Richard R. Crater

Senior Vice President and Vice Dean, Corporate Chief Financial Officer

Richard R. Crater, Senior Vice President and Vice Dean, Corporate Chief Financial Officer, will retain his current responsibilities overseeing the financial operations of both the Hospitals Center and the Medical School, while working to fully integrate them. Mr. Crater joined NYU in 1999 as Chief Financial Officer of the NYU School of Medicine and presided over the separation of the Medical School’s financial systems from the Hospitals Center to enable the merger with Mount Sinai Hospital. Mr. Crater helped develop the first multi-year financial planning document that ultimately led the University to approve construction of a new research facility as well as significant faculty and staff recruitments. In 2001, Mr. Crater was asked to oversee the financial separation of NYU Hospitals Center from Mount Sinai Hospital including the separation of debt obligations, and to establish an independent finance department for the hospitals. In recent years, Mr. Crater has successfully restructured NYU Hospital’s debt and secured an upgrade in its credit rating, thus substantially reducing cost of NYU Hospital’s outstanding debt. Mr. Crater, working with Morgan Stanley, also presided over the largest sale to date of royalty rights by a University, securing $650M for the further development of the NYU School of Medicine.

Mr. Crater began his career at the Massachusetts General Hospital (MGH) in 1979 as Director of Budgets and Cost Accounting. He was appointed Chief Financial Officer in 1986, and in 1989 became Vice President for Finance of MGH, the McLean Hospital and the Spaulding Rehabilitation Hospital, all part of MGH. Mr. Crater became Chief Operating Officer in 1992. In 1993, Mr. Crater was a key player in the formation of the Partners Health Care System, the merger of Massachusetts General Hospital and Brigham and Women’s Hospital, and the formation of Partners Community Health Care Incorporated, Partners’ community physician organization. Within Partners, Mr. Crater served as CEO of MGH and also as Executive Vice President of Partners. He left in 1998 to join The Bristol Group, a Boston-based healthcare consulting group as a Principal, where he served for a year before joining NYU Langone Medical Center.

Mr. Crater received his B.A. from Duke University and holds an M.B.A. from Boston University. He also attended the Harvard Business School’s Advanced Management/International Management Program for three months in 1996.