David B. Hale, a senior financial executive with more than 25 years of professional experience in higher education and the private sector, will join the University of Richmond as vice president for business and finance and treasurer.

Hale is vice president for finance and administration and treasurer at Colgate University, where he has served since 1993. At Richmond, he will provide leadership for a division of more than 500 individuals and have oversight of the university’s approximately $235 million annual operating budget and financial operations, as well as other key areas including facilities, human resources, dining services, sustainability and campus police.

Hale holds a bachelor’s degree from Colgate University and a master’s degree in accounting from Stern Graduate School of Business Administration, New York University.

He has held increasingly responsible positions at Colgate, including associate director of planned giving, assistant treasurer, director of financial analysis and investments, and financial vice president and treasurer before assuming his current position. Prior to working at Colgate, he was director of international accounting at Sony Pictures Entertainment and head of Paramount Pictures’ international accounting office in the Netherlands, as well as controller of a division of Paramount.

Richmond President Edward L. Ayers said, “Dave brings an outstanding record of achievement and experience to Richmond. I look forward to the contributions he will make in the years ahead. He is committed to helping sustain and advance the university’s excellence academically and as a model institution of higher education and will continue our legacy of careful stewardship of institutional resources and innovation in meeting new demands. He will also help us realize the ambitious aspirations of the university’s strategic plan, The Richmond Promise, as well as our campus master plan.”

At Colgate, Hale co-chaired a committee that oversaw significant restructuring of the operating budget during the economic downturn while maintaining the university’s commitment to academic excellence and access through increases to the financial aid budget.

Hale has led Colgate’s active engagement in its local community through both the Hamilton Initiative and the Partnership for Community Development, which have provided investment capital and university support in the surrounding region. Hale also is a member of the board of directors of Community Memorial Hospital, where he serves as chair of the Finance Committee, and was past treasurer of the Hamilton Community Chest and Hamilton Bicentennial Commission.

“I am deeply impressed with the University of Richmond’s unwavering commitment to its core academic mission and to providing access to highly qualified students through its remarkable financial aid program,” said Hale. “It is an honor to accept the challenge of stewarding the financial and human resources that will allow the University of Richmond to achieve its ambitious goals for the future. I relish the opportunity to serve as a member of the university’s impressive administrative team and work alongside such talented faculty and staff.”

Hale, who will officially begin his duties July 29, succeeds Hossein Sadid, who has served as the vice president for business and finance and treasurer since 2009.

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