February 15, 2015
This article has been updated with information from the Feb. 19 Board of Regents meeting.
Kevin P. Hegarty, a longtime financial leader at the University of Texas at Austin, has been appointed U-M's next executive vice president and chief financial officer.
Hegarty, currently serving as the vice president and chief financial officer at UT-Austin, will begin his duties April 6 after receiving unanimous approval Thursday by the Board of Regents.
"Mr. Hegarty is strongly committed to the role of public universities and brings a valuable combination of private sector and public higher education experience to the appointment," Schlissel said in a recommendation to the regents. "I am confident he will serve our university well in meeting the challenges ahead."
As executive vice president and chief financial officer, Hegarty will oversee the university's investments, finance, facilities and operations, human resources and information technology.
In his 14-year tenure as CFO at UT-Austin, he successfully partnered with members of the governing board and faculty to obtain new research grants, recruit faculty and make business cases for investments in critical academic and research initiatives.
He led the president's efforts to improve the efficiency of administrative operations, and worked closely with the UT-Austin provost to lead an effort to establish a medical school and medical innovation district to transform medical care in central Texas.
Prior to his career in higher education, Hegarty had leadership positions in financial affairs in the private sector, including with Dell Inc., Associates First Capital, Trammell Crow Co. and PricewaterhouseCoopers.
Hegarty received his bachelor's degree in business administration and his master's degree in professional accounting from UT-Austin.
Hegarty succeeds Douglas L. Strong, who has served as interim executive vice president since April 2014. Strong will return to the U-M Health System.