Ohio State named Michael Papadakis the new university treasurer and vice president for the Office of Financial Services on Tuesday.
Papadakis comes from KeyBanc Capital Markets Inc., where he served as a director since 2004. He will earn a yearly salary of $300,000, said Amy Murray, assistant director of media relations for the university.
Papadakis could not be reached for comment.
He will be the leader of the Office of Financial Services and will be responsible for managing the treasury, bursar’s office and student financial services among other duties.
Geoffrey Chatas, senior vice president and chief financial officer for Financial Services, was responsible for the hiring of Papadakis. Chatas and a group from his office worked with a head hunter to find their new treasurer, he said.
A head hunter, in the business world, is someone who works for an employer to help recruit possible employees for a certain position, according to Dictionary.com.
“We were looking for somebody who has significant capital market and banking experience as well as asset management,” Chatas said. “Mike had served well in his time at KeyBanc in those areas.”
Papadakis will replace assistant vice president Tom Johnson as treasurer. Johnson said he served as interim treasurer along with his assistant vice president role for Financial Services from 2007-2011.
He had taken over for former treasurer James Nichols, who, according a Columbus Dispatch report in 2007, had told donors and trustees in 2005 that the university’s endowment was $500 million larger than it really was.
During the time Johnson served as interim treasurer, there was no official vice president.
Johnson said he will retain his assistant vice president title and now have a role within OSU’s Student Financial Services. He said he thinks Papadakis will do a great job as treasurer.
“He is the right person for it and comes in at the right time I think,” Johnson said. “I also look forward to my job too as really spending more time working with Student Financial Services and working with the bursar’s office.”
Papadakis attained a master’s in business administration in finance and international business from Ohio State in 2004. Awaiting approval by the university Board of Trustees, his appointment will officially start June 13.