After more than a decade of service to the University of Â鶹´«Ã½, Kalbert Young, the system¡¯s vice president for budget and finance (VPBF) and chief financial officer (CFO), will step down to become the executive director of the Â鶹´«Ã½ State Employee Retirement System (ERS) at the end of 2025.
Appointed to the VPBF/CFO role in 2015, Young oversaw the university system¡¯s $1.1 billion operating budget, capital improvement projects and long-term financial planning. His leadership was pivotal in navigating state funding fluctuations, modernizing financial systems and aligning resources with academic and research priorities across all 10 UH campuses. His tenure included keeping UH financially stable during the COVID-19 pandemic, negotiating strong bond ratings that saved millions of dollars, and providing state and federal lawmakers with a clearer picture of the campuses.
“Kalbert has been an extraordinary steward of the University of Â鶹´«Ã½¡¯s financial health,” said UH President Wendy Hensel. “His commitment to our mission and his dedication to the university community have left a lasting impact. We are deeply grateful for his service and wish him continued success in this important new role.”
At the ERS, Young will lead the retirement system that manages benefits for more than 135,000 state and county employees and retirees, overseeing a multibillion-dollar portfolio. His appointment is expected to add crucial broad governmental experience and expertise to one of the state¡¯s most critical financial institutions.
“Serving the University of Â鶹´«Ã½ has been one of the most meaningful experiences of my career,” Young said. “I am proud of what we have accomplished together to strengthen UH¡¯s financial foundation and support its academic mission. While sad to think that I will no longer be a part of the continued evolution of my alma mater, I am nevertheless excited to take on this new role at the ERS and continue serving the people of Â鶹´«Ã½ in a different capacity.”
Prior to joining UH, Young served as the director of the Â鶹´«Ã½ Department of Budget and Finance, where he managed the state¡¯s fiscal policy and capital markets. He also served as the director of finance for the County of Maui. His experience at both the state and university levels positioned him as a respected leader in Â鶹´«Ã½¡¯s public finance sector.
A search for his successor will begin immediately.