As much as any officer at for- or nonprofit enterprises, chief financial officers are a distinct breed.
Nonprofit Winner: CCCI's Consorte: His reach extends beyond numbers
Private Company, more than 100 employees: BlumShapiro's Maguire innovates while managing change
Private Company, less than or equal to 100 employees: Turbine Tech's Marchak is its 'money man'
Public Company: 'Driven' Sudol manages change at Simsbury Bank
Not only are they responsible for tracking the revenue and expense "beans,'' they have a hand in raising capital through borrowing or tapping equity markets. They, too, have a crucial voice in how those enterprises operate and for setting policy that maximizes their financial and human resources.
Again, the Hartford Business Journal, with the assistance from readers in the business community and an esteemed panel of judges, has identified a worthy cast of four Greater Hartford financial managers as honorees for "CFO of the Year.'' They are profiled in this special section.
One of those is Joseph Consorte from Bristol nonprofit Connecticut Community Care Inc., who brings compassion and accounting expertise to an agency that helps the aged and disabled.
Another is David Marchak, of Turbine Technologies Inc., who devised a short-term forecast model to help the Farmington manufacturer navigate the recession and industry changes.
Tammy Maguire, of BlumShapiro, accomplished a similar feat, creating a software tool for tracking the West Hartford accounting-business consultancy's operations.
Finally, Richard Sudol, of Simsbury Bank & Trust Co., successfully enabled the Farmington Valley lender to raise fresh capital, some of which it used to open its first West Hartford branch.
In terms of methodology, the business community was invited to submit nominees in four categories — nonprofit (full-time paid); private company (less than or equal to 100 employees); private company (greater than 100 employees); and public company.
This year's judges — University of Hartford Barney School of Business Dean Martin S. Roth; Quinnipiac University business school Dean Matthew O'Connor; and Laurie A. Whalen, CFO for New Britain's Hospital for Special Care — reviewed the nominations and came up with our four winners.
Please join HBJ in congratulating our winners and all their accomplishments. And remember, we'll be back with our CFO of the Year awards again next year, so if you know of worthy candidates please nominate them, as they could be featured in next year's issue.
— Gregory Seay News Editor, Hartford Business Journal