New Jersey Institute of Technology (NJIT) has named Catherine Z. Brennan as the university’s senior vice president (SVP)/chief financial officer (CFO). She will begin her NJIT tenure on Sept. 20.
As NJIT’s SVP and CFO, Brennan will maintain responsibility for the university’s financial management and accountability, and will lead the Offices of General Accounting, University Budgeting, Payroll, Procurement Services, Accounts Payable, Financial Systems and Innovation, Risk Management, Treasury and Bursar.
Currently serving as the Deputy Treasurer for the State of New Jersey, Brennan brings extensive experience in public finance and budgeting to NJIT. In overseeing the Office of Management and Budget and Office of Revenue and Economic Analysis within the New Jersey Department of the Treasury, Brennan leads the team of professionals responsible for developing the State’s annual $44.8 billion budget, including all appropriations and revenue initiatives. She also oversees Treasury’s responsibilities related to management of federal COVID-19 funding (CARES Act/ARP funding) and serves as a board member (Treasurer’s designee) for the New Jersey Economic Development Authority, the New Jersey Capital Budget and Planning Commission and the State House Commission, among other responsibilities.
Prior to becoming New Jersey’s Deputy Treasurer in 2018, Brennan served, since 1994, in roles of increasing responsibility within the Office of Legislative Services, which provides non-partisan staff support to the New Jersey State Legislature, and was responsible for the Legislature’s independent revenue projections as Section Chief of Revenue, Finance and Appropriations.
“Since the beginning of our Administration, Cathy Brennan has served as a valued member of our team at the Department of Treasury and played a critical role in our annual budget process,” said Governor Phil Murphy. “While we will miss her here in Trenton, we wish her all the best in her new role as Chief Financial Officer at New Jersey Institute of Technology. President Bloom has made a fantastic selection and I’m confident Cathy will help lead NJIT to continued success.”
NJIT President Joel S. Bloom said of Brennan’s appointment, “We are extremely pleased to be able to attract a candidate of Cathy’s talent and experience to NJIT. She brings a unique understanding of state finance and public-sector funding (both state and federal), and has earned the respect of industry leaders as well as legislators and government leaders from both sides of the aisle throughout her career.”
“The State of New Jersey has been well served by Cathy Brennan during her 27 years of public service, and I have greatly appreciated her partnership here in Treasury over the past several years,” said State Treasurer Elizabeth Maher Muoio. “She has played an integral role in the development and implementation of our state budget, and her commitment and work ethic are second to none. I wish her the very best in her new role.”
Chair of NJIT’s Board of Trustees Robert C. Cohen, a three-time alumnus of NJIT who is President of Digital, Robotics and Enabling Technologies at Stryker Corporation, added, “Attracting a candidate of the caliber of Cathy Brennan demonstrates the strength of NJIT and the positive trajectory of the university. The university and the Board of Trustees look forward to the leadership and vision Cathy will provide for NJIT’s financial operations in the years to come.”
NJIT Trustee and alumnus Jim Stamatis, Chair of the NJIT Board’s Audit and Finance Committee and a member of the search committee for NJIT’s SVP/CFO position, also noted his confidence in Brennan, saying, “We developed an impressive pool of candidates for this position, but Catherine Brennan clearly stood out. Her stature, experience, and the respect she has earned across state government are significant. Catherine will add new insights and energy to our leadership team and further enhance NJIT’s national prominence. We are thrilled to have her join the university’s executive leadership team.”
Brennan said of her appointment, “I understand the high value return a polytechnic research education offers, and I know that education is pivotal – even indispensable – to our economy. I am extremely enthusiastic to join NJIT’s leadership team and play an important role on behalf of one of the nation’s premier public polytechnic universities.”
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