ANN ARBOR, Mich., March 20 -- The University of Michigan issued the following news release:<br /><br />John Sullivan has been appointed treasurer of the University of Michigan. His appointment, effective April 1, was approved today by the university's Board of Regents.<br /><br />Sullivan is currently the university's controller for investment accounting, with responsibility for ensuring accurate accounting and reporting for $10 billion in cash and investments for the institution. He was selected as treasurer following a national search.<br /><br />In his new position, Sullivan will have responsibility for the university's treasury, debt management and risk management functions. He also will be an integral member of the executive lead team in the university's Finance Division. As a member of this team, Sullivan will be actively engaged in determining the university's financial strategies as well as supporting the operational execution of its financial initiatives.<br /><br />"This is a key position for the university and John has a proven track record in our organization. I'm very pleased to welcome him to the Finance executive lead team," said Nancy Hobbs, interim associate vice president for finance. "Many of us across Finance have had the occasion to work with John over the years and are very familiar with both his high level of financial expertise and commitment to the university."<br /><br />Prior to joining the university in 2000, Sullivan spent more than 20 years in the financial industry in a variety of key positions, including manager of treasury for Oakwood Healthcare Inc., vice president for employee benefit administration at First of America Bank and vice president for master trust administration at Comerica Bank and Manufacturers Bank.<br /><br />Sullivan received his BBA in accounting from UM-Flint, an MBA in finance from UM-Ann Arbor, and a JD from Wayne State University.<br /><br />"I'm very excited to move into this challenging new position and look forward to partnering with my colleagues in the Treasurer's Office and Finance to offer the university community the highest-quality financial services and exemplary customer service," Sullivan said.