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October 1, 2015

Office of Finance on the move

The Office of Finance is moving to a new office building off campus to prepare for future growth.

Arthur G. Ramicone, senior vice chancellor, chief financial officer and interim executive vice chancellor, said the University intends to add a dozen people to Chief Investment Officer and Treasurer Amy Marsh’s staff within the next two years, due to growth in the size and complexity of the University’s endowment funds.

About 20 current staff members in the Office of Finance, including Pitt’s investment office and treasurer’s staff, will make the move to a new office building currently under construction behind Ruskin Hall, Ramicone said.

The Board of Trustees property and facilities committee on Sept. 28 approved a 10-year lease between the University and landlord Schenley Place LP that will move the finance office from the 24th and 25th floors of the Cathedral of Learning to the new Schenley Place building.

The lease is set to begin Dec. 1 at an initial annual cost of $448,206 for 13,852 square feet of office space.

The seven-story office building is under construction on the site of a former surface parking lot at 4420 Bayard Street.

“The lease is written for December, so they’re saying it will be available,” Ramicone said, adding that the move could be delayed until January if necessary.

Who will move into the vacated Cathedral of Learning space has yet to be determined, Ramicone said. He noted that the Office of the Chief Financial Officer has lost space amid ongoing elevator renovations that have reclaimed lobby areas on some of the upper floors in the Cathedral of Learning.

University trustees have approved a lease that will relocate Pitt’s Office of Finance to Schenley Place. The seven-story office building is being built at 4420 Bayard Street, behind Ruskin Hall.

University trustees have approved a lease that will relocate Pitt’s Office of Finance to Schenley Place. The seven-story office building is being built at 4420 Bayard Street, behind Ruskin Hall.

—Kimberly K. Barlow      

Filed under: Feature,Volume 48 Issue 3

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