Treasurer Garrity Announces New Chief Investment Officer

Treasurer Stacy Garrity today announced that Thomas J. Waters, former Vice President of Corporate Finance with Armstrong World Industries in Lancaster, is joining her senior staff as Treasury’s new Chief Investment Officer (CIO).

“I’m extremely confident in Tom’s ability to lead our investment staff, and I’m pleased to welcome him to Treasury as our new CIO,” Garrity said. “Treasury’s CIO plays a crucial role in making sure that state dollars are invested soundly and prudently, and Tom’s experience and leadership will serve taxpayers well. He also has a proven track record of successful mentoring and team building. I look forward to working with him.”

Most recently at Armstrong World Industries, Waters directed Armstrong’s treasury and investor relations functions. During his more than two decades with Armstrong, he held a variety of operational and corporate finance roles. Waters also served as the President of TJW Advisory and has held positions with American Airlines, Shearson Lehman Brothers, and E.F. Hutton.

Waters, who will start at Treasury in September, earned his bachelor’s degrees in economics and history from Binghamton University and an MBA in finance from the University of California, Berkeley.

“I’m thrilled to join the team at the Pennsylvania Treasury and work alongside Treasurer Garrity and her staff,” Waters said. “I will work every day to ensure the best possible investment outcomes for Pennsylvania taxpayers. Managing the state’s assets responsibly and with the highest fiduciary standards is my top priority.”

The CIO serves as a chief advisor to the Treasurer and is responsible for the direct management of approximately $40 billion in state assets and provides insight and analysis for Commonwealth investment assets under custody totaling $150 billion, including the state’s three largest pension funds.

Lackawanna College and Harrisburg University Sign Transfer Agreement

Lackawanna College and Harrisburg University of Science and Technology have signed an agreement that will make it easier for students from Lackawanna College to continue their education at Harrisburg University.

Thanks to the 2+2 agreement signed this month, academically qualified students who earn an Associate of Science Degree in Cyber Security from Lackawanna College will be able to transfer into Harrisburg University’s Bachelor of Science in Cybersecurity Operations and Management program at junior-level standing. The agreement marks the second accord HU has signed with Lackawanna College.

Last year, HU and Lackawanna College inked an agreement that grants students who complete Lackawanna’s RN-to-BSN nursing program acceptance into HU’s Master of Science in Nursing program.

“We recognize the need for well-trained cyber security professionals across the nation, and we are proud to provide our students with the opportunity to complete their bachelor’s degrees,” said Lackawanna College President, Dr. Jill Murray. “This agreement with Harrisburg University allows our students to further pursue studies that will prepare them to fill these high-demand positions in their field.”

Lackawanna College students who transfer to HU will enjoy the same benefits as current HU students and will be provided equal opportunities in applying for financial aid and in the award and distribution of funds. Lackawanna College students transferring to HU also will receive consideration for campus housing on the same basis as native HU students.

“This partnership will allow Harrisburg University and Lackawanna College to better serve students in Pennsylvania,” said Harrisburg University President Dr. Eric Darr. “Our teams are dedicated to making this partnership successful, and I think there are a lot of other significant opportunities for us to work together to meet workforce needs.  I look forward to expanding our partnership with Lackawanna College.”