Kathleen Casey has been nominated as the latest member of the Penn State board of trustees.
Gov. Tom Cortbett nominated the former U.S. Securities and Exchange commissioner to the 32-member board. One vacancy still remains after board member Steve Garban resigned in July.
Casey, a 1988 Penn State graduate, spent five years on the SEC, where she was principal representative to various international boards and commissions, including the G-20 Financial Stability Board and International Organization of Securities Commissions, according to a Corbett press release today.
“Kathy’s financial background, oversight experience and international perspective will make her an asset to Penn State’s (b)oard of (t)rustees,’’ Corbett said. “I am proud to nominate someone of her caliber.’’
Casey, 46, is employed with Patomak Global in Washington, D.C., as a senior adviser. According to the Governor’s Office, she was the chairwoman of the Alternative Investment Management Association and is a Distinguished Policy Fellow at the Center for Financial Markets and Policy at Georgetown University’s McDonough School of Business. She also served as as staff director and counsel to the U.S. Senate Banking, Housing and Urban Affairs Committee.
Although Casey must still be confirmed by the state Senate, at least one group already opposes the nomination.
Penn Staters for Responsible Stewardship issued a statement today decrying Corbett’s appointment.
“While Kathleen Casey appears to be a very accomplished nominee, the members of Penn Staters for Responsible Stewardship strongly oppose the appointment of Ms. Casey, or anyone else, until the (b)oard of (t)rustees updates its conflict of interest policy and gets the appropriate training around this component of governance, as clearly stipulated in the Freeh Report,” the statement said.
The group, which claims to have more than 15,000 members nationwide, has been the most vocal critic of the current board of trustees. Its Facebook page is titled “WE intend to vote out the Penn State Board of Trustees.”
The board of trustees could not be reached for comment. The university, however, stands by the nomination of Casey.
“The university welcomes and looks forward to working with Ms. Casey, pending her confirmation by the state Senate,” university spokesman David LaTorre said in an email.