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| Nathan E. Brostrom |
Brostrom was selected following a nationwide search that was launched four months ago. It produced a final pool of 10 highly qualified candidates from the fields of higher education, private enterprise and the government and public sectors.
During his tenure as interim executive vice president for business operations, Brostrom maintained his responsibilities as vice chancellor for administration at UC Berkeley while overseeing the successful completion of a number of organizational and budgetary initiatives at the systemwide office. He received no salary increase for his additional responsibilities.
Brostrom, 45, replaces Katherine N. Lapp who served as UC's executive vice president for business operations from May 2007 to September 2009, when she left the university to assume a similar position at Harvard University.
"Nathan is not only uniquely qualified for this position, but he brings tremendous energy and optimism," said UC President Mark Yudof, who recommended the appointment. "He also shares with me and his predecessor a deep commitment to efficiency and transparency. At UC Berkeley he was a critical force behind the development of a more rational and transparent budget process. He is the right person to lead our ongoing efforts to make the university as a whole as efficient and transparent in its actions as possible."
As UC Berkeley's vice chancellor for administration, Brostrom managed the campus's annual operating budget of more than $1.8 billion and was responsible for a division that is the largest provider of services to campus staff and a significant provider of services to UC Berkeley students.
Before joining UC, Brostrom was the manager of the Western Region Public Finance Group for J.P. Morgan Securities in San Francisco, a position he held for nearly three of his 10 years with the firm. As head of the Western Region Public Finance Group, he oversaw the largest municipal deal in U.S. history at that time, an $11.3 billion bond sale for the state of California.
Previously, he had performed roles with increasing responsibility at Merrill Lynch Capital Partners, J.P. Morgan, Quarterdeck Investment Partners and the California State Treasurer's Office, where he worked with former California Treasurer Kathleen Brown, managing financings and helping to develop economic development programs in underserved regions of California.
"I am deeply honored by this appointment and excited to continue to serve the University of California," Brostrom said. "I hold strong personal connections to the university. Fifteen members of my immediate family have studied or worked at one of our campuses, and these connections have shown me firsthand the tremendous impact the UC has on the lives of Californians. I realize UC faces tremendous challenges in the coming decade, but these challenges energize, engage me and strengthen my commitment to preserve UC's unparalleled history of combining excellence and access."
As executive vice president, Brostrom will serve as chief administrative officer for the University of California system, with responsibility over its systemwide budget, facility construction and maintenance, real estate management, human resource administration and information technology support. He also oversees the budget and administration of the Office of the President, including the ongoing restructuring process. He will report directly to Yudof.
Brostrom's proposed annual salary of $375,000 is 13.5 percent below the market median and 9.9 percent below the salary of his predecessor. There is no incentive pay for this appointment, though market data reflect additional incentive pay ranging from 10 to 20 percent of base salary at other educational institutions.
The position, funded by UC general funds, is subject to the systemwide salary reduction and furlough program, which will lower Brostrom's effective salary to $337,500 while the furlough program is in effect.
Brostrom will receive standard benefits, including a 5 percent monthly contribution to the Senior Management Supplemental Benefit Program. He also becomes eligible for an automobile allowance of $8,916 a year and access to the Mortgage Origination Loan Program, however, Brostrom does not intend to participate in either the auto or mortgage programs.
Brostrom graduated Phi Beta Kappa from Stanford University and holds a master's degree from the Woodrow Wilson School of Public and International Affairs at Princeton University. He and his wife Caitlin live in Berkeley with their six children.