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Last modified: Friday, June 25, 2004

Miller to step down as IU treasurer

BLOOMINGTON, Ind. -- Steven A. Miller, who has served Indiana University as treasurer for almost 14 years, will step down from the position effective July 30.

Miller has accepted a position as senior vice president at Northern Trust Global Advisors in Chicago, which provides investment portfolio management services to corporate and public pension funds, foundations and endowments.

"Although I only worked with Steve for a brief period, I am well aware of his many accomplishments and distinguished record of service to Indiana University. I regret that we won't be able to work together longer, but wish him well in his new endeavor," said IU President Adam W. Herbert.

Miller said that investment management is one of his strongest interests and that he has an opportunity in Chicago to finish his career concentrating on what he most enjoys. Still, he said leaving IU won't be easy.

"IU and Bloomington have been a big part of my life and will always occupy a special place in my heart. During my time here I have had the good fortune to be surrounded and supported by a large number of dedicated professionals who love the university and work tirelessly to make it the best it can be."

While serving as treasurer, Miller forged a strong relationship with the university's board of trustees.

"Steve's expertise has been invaluable to trustees, who must make decisions that will have a lasting impact on the university," said IU board president Fred Eichhorn. "Over the years, he has guided us through key investments and important bonding issues, and has provided crucial advice and counsel. We will miss him, not only for his professional acumen, but for his affable manner. He has been an outstanding colleague."

IU Vice President and Chief Financial Officer Judith Palmer praised Miller for his steady leadership as treasurer, particularly in the areas of investment management and debt financing. "During Steve's tenure at IU we have seen significant enhancements in both of these areas," she said.

The Office of the Treasurer has the primary responsibility for investing the university's funds. It also provides for the capital financing needs of the university through access to the public debt markets and conducts all banking related business of the university.

Palmer said that the president and the trustees are expected to announce future plans regarding the position and treasurer responsibilities in August.