Virginia Tech has named Simon Allen as the next vice president for finance and chief financial officer, effective May 6.
Allen currently serves as vice president for finance and chief financial officer of the Ithaca campus of Cornell University, a peer of Virginia Tech.
Reporting to Executive Vice President and Chief Operating Officer Amy Sebring and partnering with university stakeholders, Allen will provide key leadership in supporting the teaching, research, and outreach missions of Virginia Tech.
“Virginia Tech’s commitment to be an inclusive community of knowledge, discovery, and creativity dedicated to improving the quality of life and the human condition within the Commonwealth of Virginia and throughout the world resonates very strongly with my personal values and ambitions,” said Allen. “I am honored and excited to be offered this opportunity.”
The vice president for finance and chief financial officer serves as an institutional catalyst, stimulating sound financial management practices across the organization that support the university’s strategic achievements and financial objectives.
Allen will be a member of the President’s Council with direct responsibility for the oversight and management of the university’s key financial operations, including budget and financial planning, capital financing, financial reporting, treasury management, accounting, university bursar, insurance, payroll, travel, procurement, and tax.
In this role, he will provide leadership and oversight to strategic and financial planning, ensure overall management and integrity of the university’s budget, provide guidance for university business and financial initiatives, represent the university in its relationships with its affiliated organizations, and engage in the processes of obtaining new resources and allocating resources such that goals and objectives are accomplished consistent with the university’s mission.
“Throughout his career in both the private sector and in higher education, Simon has demonstrated his ability to bring stakeholders together to solve complex problems in ways that are mission-driven and people focused,” said Sebring. “Simon’s financial expertise and collaborative leadership style will enable Virginia Tech to continue elevating our financial services in support of the university’s strategic objectives and build upon Virginia Tech’s track record of strong financial management and positioning.”
Allen brings a wealth of financial experience to Virginia Tech, having most recently served in a similar role at an R1 research and land-grant institution. As Cornell University’s vice president for finance and chief financial officer, Allen was responsible for the university treasurer, bursar and controller’s offices, procurement and contract management, as well as other insurance, asset, and real estate functions. He oversaw an annual operating budget of approximately $6 billion, net assets of $14 billion, a debt portfolio of $1.9 billion, and approximately $1 billion in capital assets while providing oversight support for the university’s three campuses in Ithaca, New York, and New York City.
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Prior to his career in higher education, Allen was employed in the finance sector, most recently as the U.S. managing director of real estate private equity for leading European asset management firm Amundi Asset Management. He was responsible for all financial analysis and implementing a data-centric approach to financial operation and decision-making.
Allen earned an MBA with concentrations in finance and economics from the University of Warwick, Coventry, United Kingdom; a master’s degree in environmental management from Duke University; and a Bachelor of Science in urban estate management from the University of Westminster, London.