At its meeting on February 19, 2004, the Church Pension Fund Board of Trustees unanimously elected T. Dennis Sullivan to succeed Alan F. Blanchard as president of the Church Pension Group.
"Mr. Sullivan's commitment to the public good, and his solid investment and financial management credentials informed by years of high-level business leadership, will be invaluable as CPG continues to study how best to serve its beneficiaries and the church," said David R. Pitts, chair of the Church Pension Fund board and co-chair of the board's CEO/President Selection Committee.
Blanchard, who served as president of CPG for the past 15 years, will retire in June. "I applaud the board's decision," said Blanchard, "and I look forward to working with Dennis Sullivan during the transition period."
"I am deeply honored to be entrusted with the leadership of the Church Pension Group," said Sullivan upon his election.
Sullivan's career has revolved around investments, finance and administration in the for-profit, not-for-profit and public sectors, and he brings extensive financial and investment leadership experience to his new role. Most recently, he served as CFO for the New York Public Library; prior to that, he was financial vice president of the Andrew W. Mellon Foundation and special advisor to the president. Before joining Mellon, he was with J.P. Morgan Securities, then managed Princeton University's endowment as president/chief investment officer of that university's investment company. He has also served as deputy commissioner of the Department of Labor & Industry for the State of New Jersey, secretary of finance for the State of Delaware, and executive director of the Municipal Assistance Corporation for the City of New York.
Sullivan and his wife, Susan, are members of St. Bartholomew's Church in New York City. He is a trustee of the Prospect Park Alliance, and has served on the Russell 20-20 Association, the Research Council on Global Investment of the Conference Board, and the Advisory Committee for the New York State Common Retirement Fund. He holds a BA (Phi Beta Kappa) from Princeton University, and an MA from Oxford University, England.
Founded in 1917 as the pension system for Episcopal clergy and their families, the Church Pension Fund has paid out nearly $2 billion in benefits. Over the years, benefits and services for clergy and their families have been increased and expanded on a regular basis, pensions for church lay employees instituted, life, property and casualty insurance made available, a health insurance program established, and the publishing function expanded. Today, the Church Pension Group includes educational programs and advisory services for clergy and laity as well as for Episcopal dioceses and parishes throughout the United States.