IU treasurer to leave after 14 years

After nearly 14 years in Bloomington, Treasurer Steven A. Miller is leaving IU effective July 30.\n"I really enjoyed working investment management at IU and in previous jobs, and I still have 10 or more years working and would like to finish my career concentrating in that area," said Miller, a 56-year-old IU alumnus.\nMiller will leave IU for a job as senior vice president at Northern Trust Global Advisors in Chicago, which provides investment services to corporate and public pension funds, foundations and endowments.\nAlthough Miller is leaving IU to pursue a job that targets his interests, a recurring problem some public employers face is hiring and keeping qualified employees, despite competition from private sectors. The public sector generally cannot compete with wages, incentives and bonuses in the private sector. But in the Office of the Treasurer, Miller said, a job, especially in the public sector, isn't all about money.\n"I have had the good fortune to be surrounded and supported by a large number of dedicated professionals who love the University and work tirelessly to make it the best it can be," Miller said in a statement.\nMiller said he agreed that "by and large, public sectors have trouble compensating" when compared to private business. But he said that employees of IU "believe in higher education" and work here because they enjoy other benefits such as the close proximity to family and less stress than a private sector position.\nMany of the people who worked closely with Miller said they admire the accomplishments he has made. Managing Director Dennis W. Reedy, who has worked with Miller for the last 14 years, commented on his experiences with Miller.\n"Steve, No. 1, is a very good person," Reedy said. "He is very unique. (Miller) is an expert in the field, but also a very good people person. The University is losing an exceptional person. He has been a pleasure to work for, and I hate to see him go."\nIU Vice President and Chief Financial Officer Judith Palmer praised Miller for his steady leadership as treasurer, particularly in the areas of investment management and debt financing. \n"During Steve's tenure at IU, we have seen significant enhancements in both of these areas," she said. Although IU President Adam Herbert has only worked with Miller only since last spring, he acknowledged Miller's contributions to the University.\n"I am well aware of his many accomplishments and distinguished record of service to Indiana University," Herbert said in a statement. "I regret that we won't be able to work together longer but wish him well in his new endeavor."\nPalmer said the president and the IU board of trustees expect to announce plans regarding the position and treasurer responsibilities in August.\n-- Contact staff writer Ashley Lough at