Richard J. Stanton has been named associate vice chancellor and associate dean for administration and finance at Washington University School of Medicine in St. Louis.
Stanton’s appointment, effective July 1, 2008, was announced by Larry J. Shapiro, M.D., executive vice chancellor for medical affairs and dean of the School of Medicine.
“Rick is an accomplished executive with broad experience in finance and administration within a university and medical school environment,” Shapiro says. “He has successfully developed financial and operational strategies that have led to significant growth and transformation for his previous employers. We are excited that Rick will bring his high energy and passion for his work to Washington University School of Medicine.”
At the School of Medicine, Stanton will be responsible for coordinating the financial, administrative and capital activities. He will manage the non-academic operations and will oversee all short- and long-term financial planning, information technology services, facilities management, design and construction, and related operations.
Stanton comes to Washington University from Massachusetts where he has worked for more than 30 years in various capacities. Since 1992, he has been deputy chancellor for finance and administration for the University of Massachusetts Medical School in Worcester, responsible for finance, human resources, information systems, development, public affairs and government relations, licensing and intellectual property management and oversight of a University-owned biologics manufacturing facility. During his tenure, he has substantially bolstered the school’s financial foundation and championed state appropriation support.
In addition, he steered negotiations to merge the University’s Hospital and Faculty Practice with the region’s second-largest hospital system, creating a $2.2 billion health system. He implemented a performance-based merit compensation system for all non-faculty employees and directed strategic acquisitions, oversaw a campus expansion from 1.3 million gross square feet in 1992 to 2.5 million gross square feet in 2005 and coordinated financing to support campus capital programs.
Previously, he held key positions with the Massachusetts Department of Revenue, the Division of Public Employee Retirement Administration, the Office of the Governor and the Office of the Secretary of State.
Stanton earned a law degree from George Washington University in 1976 and a bachelor’s degree from Bradford College in 1973. He is president of the Worcester City Campus Corp., a member of the University of Massachusetts Conflicts of Interest Committee, a member of the finance committee of UMass Memorial Healthcare Inc. and a board member of Massachusetts Biomedical Initiatives.
Washington University School of Medicine’s 2,100 employed and volunteer faculty physicians also are the medical staff of Barnes-Jewish and St. Louis Children’s hospitals. The School of Medicine is one of the leading medical research, teaching and patient care institutions in the nation, currently ranked third in the nation by U.S. News & World Report. Through its affiliations with Barnes-Jewish and St. Louis Children’s hospitals, the School of Medicine is linked to BJC HealthCare.