THE STATE EDUCATION DEPARTMENT / THE UNIVERSITY OF THE STATE OF NEW YORK / ALBANY, NY 12234

 

TO:

The Honorable the Members of the Board of Regents

FROM:

Johanna Duncan-Poitier

 

 

COMMITTEE:

Full Board

TITLE OF ITEM:

Reappointment to the New York State Teachersí Retirement System Board

DATE OF SUBMISSION:

March 29, 2004

PROPOSED HANDLING:

Approval (Consent Agenda)

RATIONALE FOR ITEM:

Regents appointment required

STRATEGIC GOAL:

Goal 3

AUTHORIZATION(S):

 

 

SUMMARY:

 

            Richard F. Lindstromís term on the New York State Teachersí Retirement System Board expires on May 6, 2004.  Appointment to this position on the Board requires approval by the Board of Regents.  Education Law, section 504(2), provides that:

 

            ďOne member who is not an employee of the state, who shall have been an executive officer of a bank authorized to do business in this state, elected by the Board of Regents of the University of the State of New York to serve for a term of three years.Ē

 

Mr. Lindstrom has served on the New York State Teachersí Retirement System Board since April 29, 1985. He is an extremely knowledgeable Board member, who has served on several of the Boardís committees. He is the current Vice President of the Board and Chair of the Finance Committee. Mr. Lindstrom was formerly President and Chief Executive Officer of Bankers Trust Company of Albany and is retired from the position of Executive Vice President of the First American Bank of New York. His resume is attached.

 

Recommendation:  I recommend that the Regents take the following action:

 

            VOTED, that Richard F. Lindstrom be reappointed to the New York State Teachersí Retirement System Board for a three-year term commencing May 6, 2004 and expiring May 6, 2007.

 

 

Attachment


ATTACHMENT

 

 

Richard F. Lindstrom

 

 

Richard Lindstrom has been a member of the New York State Teachersí Retirement System Board since 1985 and is the current Vice President.  He is Chairman of the Boardís Finance Committee, while also serving on its Executive, Personnel and Planning, and Proxy Committees.

 

Mr. Lindstrom has been a prominent figure in the banking community for a period spanning four decades.  He was formerly President and Chief Executive Officer of Bankers Trust Company of Albany and retired from the position of Executive Vice President of the First American Bank of N.Y.  He is a graduate of Colgate University and was awarded an honorary doctor of humane letters degree from Siena College.

 

He has served as Trustee of the YMCA (Albany), Albany Medical College, Siena College, Christian Brothers Academy, and W.M.H.T. Public Television and as Chairman of the Board of Trustees of St. Peterís Hospital.

 

He has been a member of the Albany Parking Authority, the Community Advisory Committee of the Urban Development Corporation, and the Administration Board of the NYS Bankers Association and Comptroller of the Currency Regional Advisory Committee.

 

Mr. Lindstrom has served as director of the American Red Cross (Albany Area Chapter), Albany Park and Shop Corporation, Albany County Youth Bureau, State University of New York at Albany Foundation and Farmers National Bank.

 

Mr. Lindstromís affiliations have also included the Albany Institute of History and Art, Albany County U.S. Savings Bond Program, Government Relations Committee of NYS Bankers Association and the Albany Chamber of Commerce, of which he served as president.