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

TO:	Higher Education and Professional Practice Committee
FROM:	Johanna Duncan-Poitier
SUBJECT:	Reappointment to the New York State Teachers’ Retirement Board
DATE:	February 27, 2007
STRATEGIC GOAL:	Goal 3
AUTHORIZATION(S):

SUMMARY

Issue for Decision (Consent Agenda)

Should the Board of Regents approve the reappointment of Daniel J. Hogarty, Jr. to the State Teachers’ Retirement System Board?

Reason(s) for Consideration

Required by State Statute.

Proposed Handling

The question will come before the Higher Education and Professional Practice Committee at its March 2007 meeting, where it will be voted on and action taken. It will then come before the full Board at its March 2007 meeting for final action.

Procedural History

Appointment of a member to this position on the Retirement Board requires approval by the Board of Regents. Education Law, section 504(2), provides that:

“One 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.”

Background Information

Daniel J. Hogarty, Jr. was first appointed to the State Teachers’ Retirement System Board on July 1, 2005 to fill the unexpired term of a previous member. He is now being recommended for reappointment for a full three-year term. Mr. Hogarty currently chairs the Teachers’ Retirement System Board’s Finance Committee. He is Vice Chairman and Director of the First Niagara Financial Group. He is the former Chairman, President, and Chief Executive Officer of Troy Financial Corporation; and President, Chief Executive Officer, and Director of The Troy Savings Bank. His résumé is attached.

Recommendation

VOTED: That Daniel J. Hogarty, Jr., be reappointed to the New York State Teachers’ Retirement System Board for a term beginning May 6, 2007 and ending May 6, 2010.

Timetable for Implementation

Mr. Hogarty’s new term would begin May 6, 2007.

Attachment

DANIEL J. HOGARTY, JR.

Vice Chairman & Director

First Niagara Financial Group

Mr. Hogarty began his banking career in 1964 at First Trust Company of Albany, the predecessor of Bankers Trust Company of Albany, which was acquired by First American Bank of New York in 1984.

At present, Mr. Hogarty is serving as Vice Chairman of the Board of Directors of First Niagara Financial Group. He is the former Chairman, President & Chief Executive Officer of Troy Financial Corporation as well as the President, Chief Executive Officer and Director of the Troy Savings Bank. Mr. Hogarty was elected President and a Trustee of the Troy Savings Bank in 1985 and became President & Chief Executive Officer in 1987, remaining in that capacity until the bank was acquired by First Niagara Financial Group in January 2004.

Mr. Hogarty is Director, Treasurer and Chairman of the Finance Committee of the University at Albany Foundation; and Director of the New York Business Development Corporation, Troy Municipal Assistance Corporation, The Arsenal Partnership, United Way of Northeastern New York and Rensselaer County ARC Foundation. Mr. Hogarty is President & Director of the Troy Savings Bank Charitable Foundation and the Troy Savings Bank Music Hall Foundation.

Appointed by Governor Mario M. Cuomo in 1992, Mr. Hogarty served as a member of the State of New York Banking Board until 1997. Appointed by Governor Cuomo in 1994, Mr. Hogarty served on the Board of Trustees of Hudson Valley Community College until 2001, serving as Chair of the Finance Committee during his tenure. Mr. Hogarty also served as a member of the Boards of Trustees of The Sage Colleges, Maria College and LaSalle Institute, LaSalle for Boys, and the Board of Directors of the Center for Economic Growth and The Community Hospice.

In 1995, Mr. Hogarty was appointed a member of the Troy Municipal Assistance Corporation (MAC) by Senator Joseph L. Bruno and continues to serve in that capacity.

In 1996, Mr. Hogarty was appointed by Governor George E. Pataki a member of the Board of Directors of the New York Business Development Corporation and continues to serve in that capacity.

In 1997, Mr. Hogarty was appointed by Governor George E. Pataki a trustee of the Savings Banks Life Insurance Fund and served until June 2001.

In 2001, Mr. Hogarty was appointed a member of the Board of Trustees of the State University of New York by Governor George E. Pataki and served until March 2004.

In 2004, Mr. Hogarty was appointed a member of the Board of Directors of the Harriman Research and Technology Development Corporation by Governor George E. Pataki.

In 1994, Mr. Hogarty received the Executive of the Year award from the Capital District Business Review.

In 1995, Mr. Hogarty received the Tree of Life Award from the Jewish National Fund and he and his wife received the LaSallian Benefactor Award from LaSalle School of Albany. In 1997, they received the Monsignor Burns Memorial Award from Catholic Central High School. The Citizen Laureate Award from the University at Albany Foundation and the Accolade for Service Award from the Arthritis Foundation was awarded in 1998.

In 2001, Mr. Hogarty received the President’s Award from Hudson Mohawk Association of Colleges & Universities and the Citizen of the University Award from The University at Albany Alumni Association.

In 2002 Mr. Hogarty received The Greene County Council on the Arts Distinguished Service Award and Christian Brothers Academy Distinguished Alumni Award.

In 2003, Mr. Hogarty received the President’s Award from the Capital District YMCA and Co-Distinguished Citizen Award from Twin Rivers Council, Inc.

In 2004, Mr. Hogarty received the Edward H. Pattison Award from the Rensselaer County Regional Chamber of Commerce.

Mr. Hogarty is a graduate of Christian Brothers Academy, received a Bachelors of Science Degree from Villanova University and a Masters in Business Administration from Siena College.