return to of ce brings promises of mass deportation and tariffs that could wreak
havoc on New York City’s economy
By Nick Garber
Donald Trump’s victory in the Nov. 5 presidential election is likely to usher in a turbulent era for New York City, an economic powerhouse highly reliant on immigrant labor that may now need to contend with a hostile federal government.
e Republican president-elect’s
promise to carry out large-scale deportations of undocumented immigrants could wreak havoc on the New York City economy.
Some 500,000 undocumented people live in the city, not counting the more than 200,000 migrants who have entered New York since 2022 after being granted asylum. at “mass deportation” plan,
if enacted in some form, would imperil their status and throw a wrench into industries like construction, hospitality and home health care that employ large numbers of undocumented workers. It would also hurt New York’s nances in other ways — New York’s undocumented immigrants pay over $3 billion in combined federal, state and local taxes, according to a July study by the Immigration Research Initiative.
4 questions in the air at Somos, New York’s political confab PAGE 7
Trump’s plan to impose high tari s on imports from China and other countries, if successfully implemented, would be all but certain to dramatically increase the cost of goods, in New York and across the country, according to studies.
Trump’s rst term was characterized by frequent legal battles between his administration and New York’s Democrat-run city and state governments — a dynamic all but
certain to return over the next four years.
High-income earners may cheer Trump’s pledge not to renew the $10,000 cap on state and local tax deductions, created through his own 2017 tax law, which has proven deeply unpopular in high-tax states like New York. (Democrats in Congress have been the loudest opponents of the SALT cap, which is set to expire in 2025.)
Also in jeopardy are major infrastructure projects that require
State fumbles health costs database
New York has spent $159M, but the platform is still unavailable to the public years later
By Amanda D’Ambrosio
Nearly a decade ago New York signed a lucrative contract with a health services rm to build a database to boost transparency on the pricing of medical procedures across health systems. It’s still not ready. e database was intended to pull together medical claims from Medicare and Medicaid, private insurers and hospitals to display the true cost of health services in New York. e database would help patients nancially plan for upcoming procedures and aid policymakers in understanding and addressing the drivers of rising
“Patients have suffered; employers have suffered. We have all paid for this delay.”
Elisabeth Benjamin, vice president of health initiatives at the Community Service Society
health costs. e state Health Department inked a $168 million contract with Optum — the health services arm of insurance giant UnitedHealth – to build its health transparency tool in 2016, ve years after a law authorizing the state to collect, store and analyze claims data from hospitals and insurance companies was passed. State documents outlining the project said that New York has “fragmented, inconsistent and incomplete” information about its health care ecosystem and that such a database was an “essential
The database would help patients nancially plan for upcoming procedures and aid policymakers in understanding and addressing the drivers of rising health costs. | GETTY IMAGES
City doubles housing target for Midtown South rezoning
By Nick Garber
Mayor Eric Adams’ administration is scaling up its plan to convert Midtown’s outdated industrial zones into bona-fide neighborhoods. A draft plan unveiled Oct. 30 would allow for the creation of some 9,700 homes — more than double the previous estimate of 4,000, thanks to a change in state law that lifted a cap on residential density.
The Midtown South Mixed-Use plan covers 42 blocks between 23rd and 41st streets, bounded by Fifth and Eighth avenues — including the Garment District and sections of Flatiron and Chelsea lined with loft-style buildings. For decades, the area’s zoning has al-
one of the biggest housing achievements of Adams’ mayoralty and the most sweeping landuse changes in Manhattan since the 2017 rezoning that boosted office towers in Midtown East.
“This is precisely the area of the city where we should enable our highest-density residential buildings — centrally located, with great amenities and access to transit,” City Planning Director Dan Garodnick said during a virtual meeting Oct. 30 where the draft plan was revealed.
The latest plan would finally allow residential uses in Midtown South while continuing to permit light manufacturing, retail and offices. Of the 9,700 new homes, about 2,800 would be affordable through the city’s inclusionary housing mandates.
New state laws could help the Adams administration remake industrial Midtown into a residential neighborhood.
lowed only industrial uses, but those limits appear increasingly out-of-step as manufacturing has declined and housing has become increasingly scarce.
In the works since 2023, the rezoning is now closer to starting its seven-month public review around the start of 2025. With support from both local City Council members, the plan seems poised for approval — which would mark
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Although city officials previously forecast just 4,000 new homes, they upped their ambitions thanks to the April state budget deal in which lawmakers ended a decades-old policy that limited the square footage of New York City apartment buildings to 12 times the size of their lot — a measure known as floor-area ratio. Now, City Planning is proposing to allow 18-FAR apartment buildings in most of the 42 blocks being rezoned, and 15 FAR on the rest, marking the first-ever uses of the newly dense districts.
First, though, the Adams administration must formally add those high-FAR districts to the city’s zoning toolkit. That would
come as part of the City of Yes housing plan, a set of wide-ranging changes to zoning rules that will face a vote this year — months before the Midtown South plan. Make conversions appealing
Much of the housing created in Midtown South would come through the conversion of existing office or industrial buildings, and it’s unclear how eager local landlords will be to take advantage.
Several Midtown South building owners told Crain’s last year that they supported the rezoning but had no immediate desire to renovate their properties — although that came before this year’s state budget, which added new tax incentives that make conversions more appealing.
Another part of the Midtown South plan will try to preserve the neighborhood’s loft-style streetscapes. A newly created special district would require new buildings to line up evenly with the street — a response to complaints about new hotels that are often set back several feet from the sidewalk.
The Midtown South plan will need to move through the city’s land-use review process and face a final vote by the City Council next summer. Importantly, it has tentative support from local City Councilmen Keith Powers and Erik Bottcher, who both spoke positively about the plan on Oct. 30.
“The challenge is going to be to get the right mix of the retention of commercial and light manufactur-
ing,” Bottcher said. “We want conversions and new construction.”
The rezoning also has the support of some local business groups, including the Garment District Alliance and Flatiron NoMad Partnership. By permitting more housing, leaders hope the changes could transform Midtown South into a more vibrant livework area after a rough few years following the pandemic, which ushered in an era of vacant storefronts and eerily empty streets after work hours.
The 42 industrial blocks being rezoned already contain about 2,300 homes, thanks to a mix of special
zoning exemptions and units that were built before the city’s 1961 zoning code was adopted. The city has long struggled to figure out how to handle Midtown’s remaining industrial areas. As recently as 2018, the city loosened the Garment District’s manufacturing-only zoning to allow for more office use, but passed up a chance to permit housing. Local officials and business leaders wanted to allow apartments but faced resistance from then-Mayor Bill de Blasio’s administration, which wanted to prioritize creating office space, according to people who worked on that effort.
Former bank site in Carroll Gardens to become 6-story mixed-use building
By Julianne Cuba
A 6-story mixed-use building is likely to rise on the site of a former bank in Carroll Gardens, according to permits recently filed with the city.
The new project is proposed for 420 Court St., a now-vacant lot that was occupied by Capital One until 2020, when the financial institution closed dozens of its brickand-mortar branches during the pandemic.
Acquired the property
A limited liability company named after the address acquired the property, between First and Second places, from the bank for $3.2 million in 2021, and secured a $14.1 million loan from California-based Preferred Bank as part of the transaction, records show. The same entity, which is also associated with Tribeca-based Avo
Correction
Construction, is the one that submitted plans for the project with the Department of Buildings. It’s unclear, however, if Avo Construction is involved in the project; the firm did not respond to a request
An updated 40 Under 40 profile of Matt Weinberg appears on Crains NewYork.com. The title of Yves Duroseau, which appeared in the Oct. 21 edition of Crain’s, has been updated to reflect that he is the chair of emergency medicine at Northwell Lenox Hill Hospital.
for comment by press time.
The proposed structure would include retail on the cellar and first floors across roughly 2,470 square feet — replacing what was previously the safe deposit and vault — as well as four dwelling units on the upper floors across about 8,885 square feet, records show. The south Brooklyn neighborhood is largely made up of 1- to 3-story brownstones and retail shops, while the tallest nearby building is less than 7 stories, re-
cords show.
Information from the Department of Buildings indicates that the construction permits have been approved, but the $1.5 million cost associated with the work may have been “underreported.”
Paul Lombardi, an architect at the firm Design Studio Associates, which is also located on Court Street, is listed as the architect of record, according to the filing. Lombardi did not respond to a request for comment.
Carlo A. Scissura
The Midtown South rezoning would create as many as 9,700 homes by allowing residential uses in industrial parts of Midtown lined with loft-style buildings, like 144 West 27th St. | BUCK ENNIS
420 Court St. COSTAR
Smaller fleet and hospital closures are slowing ambulance response times, officials say
members of the Fire Department responsible for the city’s emergency services testified about the factors that have stretched resources thin in recent years
By Ethan Geringer-Sameth
Response times for emergencies in the city are getting longer thanks in part to fewer ambulances on the road and hospital closures stretching resources thin, officials said on Nov. 1.
Ambulances have been slower to respond while the number of medical emergencies has gone up since 2020. From July 2023 to June 2024, the Fire Department’s average response time to a life-threatening medical emergency was 10 minutes and three seconds, 79 critical seconds longer than the average response time in the twelve months ending in June 2021, according to city data from the Mayor’s Management Report.
After a surge in the number of ambulances during the height of the pandemic, the city’s fleet has returned to pre-pandemic
levels, said Michael Fields, chief of EMS operations, at the hearing. At the same time, the number of private ambulances in the city’s emergency response system has decreased, officials say.
Stretching resources further is the closure or downsizing of hospitals, increasing turnaround times at other emergency departments and forcing ambulances to travel longer distances to deliver their cargo, Fields said. Meanwhile, the city’s spending on Emergency Medical Services has increased by close to $100 million between Fiscal 2021 and 2024, totaling $435
Emergency Medical Services spending has increased by close to $100 million between Fiscal 2021 and 2024, totaling $435 million last fiscal year.
million last fiscal year, according to an analysis from fiscal watchdog group Citizens Budget Commission. Spending on personnel accounted for $85 million of that. But the average number of in-service ambulance hours per day decreased by more than 6,000 over the same period, according to city data. Private hospitals have also reduced the number of ambulances participating in the 911 system, Fields said. The mayor’s executive budget plan included $1.7 million in Fiscal 2024 to support ambulances to replace ambulances previously run by
volunteer hospitals. That figure would increase to $9.4 million by Fiscal 2028.
A strain on neighboring hospitals
The closure of hospitals, like Kingsbrook Jewish Medical Center, has also put a strain on neighboring hospitals, which increases ambulance turnaround time at those facilities. In the case of nearby King’s County, which has one of the most crowded emergency departments in the public hospital system, the average turnaround time in the ED increased by three minutes this year, to 44 minutes and 14 seconds, Fields said. Multiply that by the 28,900 emergency transports there last year, “that’s the amount of minutes that we don’t have resources available to respond to that respective neighborhood,” he said.
Fewer ambulances on the road and hospital closures have led to longer response times. bLoomberG, bUCK eNNIS
Surrey Hotel attempts a comeback with a hybrid hospitality model from the past
The historic Upper East Side site just reopened last month as a hotel-and-condo property after shuttering during the pandemic
By C. J. Hughes
One of the many hotels to be wrecked by the pandemic is attempting a comeback with a nod to a neighbor and the past.
The Upper East Side’s Surrey, which closed four years ago as Covid raged, reopened last month as a combination of a lodging and a residence. It now houses a 100-room hotel and a 14-unit condo under the same roof.
Mixing places to crash for short visits with pads for long-term habitation is an approach the nearby Carlyle Hotel, which contains dozens of coop units, has long embraced. And the Surrey, which arrived in 1926, functioned like other lodgings of the era as an extended stay-type “residential hotel,” a place to enjoy services as townhouses fell out of favor. Many rooms featured kitchens there for decades. But the trend of shacking up for long-term visits seemed to have waned in recent years.
In 2020 longtime owner Denihan Hospitality Group failed to make several ground rent payments on the then-190-room property and eventually lost the 16-story tower after 49 years.
The bet on the Surrey’s hybrid model comes from Reuben Brothers, a British development firm that has not previously had a presence in New York but has been on a local buying binge as of late. Reuben, under the direction of Jamie Reuben, the son of firm co-founder David Reuben, paid $150 million for the 20 E. 76th St. site in the Lenox Hill neighborhood. It is not clear what Reuben spent on renovations. A project spokeswoman declined to make anyone available for comment.
Still, the wager on the condos may be paying off. After six months of marketing, 13 of the hotel’s 14 units were in contract in November, the spokeswoman said, at prices ranging from $9 million to $28 million. The project’s offering plan promises a $209 million total payout.
Details about the deals won’t be clear until they are actually completed, which is expected to happen early next year. But at a time of sluggishness from still-high interest rates, the speed of the sales seems notable.
Reuben, who has also taken control of the 79-unit Chatwal hotel in Midtown after its debt went into default, may have noted the rebound in the city’s hotel sector, as properties have come offline to house migrants and Airbnb options have dwindled after a crackdown.
The migrant shelter population of 120,000, part of which occupies 9,000 hotel rooms, is not expected to decrease much in the coming months, based on a recent city deal with a housing contractor. The Surrey, then, might have picked the right time to right itself.
This five-story, 8,200-square-foot neo-Renaissance mansion, completed in 1896, is one of several well-kept limestone homes on the block, though its placid facade masks a turbulent history. An early owner, wealthy mining executive Joel Thorne, vanished one night in 1917, leaving his wife Mary and son Joel behind. Try as she might for years, Mary could not track down Joel, according to newspaper reports from the time. After he did reappear in 1919, a two-year divorce battle followed with Mary coming out on the losing end in 1921. She appealed the ruling but lost in 1924, and Joel died after getting hit by a car the next day. In the 1950s, owners converted the single-family dwelling into apartments and doctors’ offices, according to a historic district designation report from the city’s Landmarks Preservation Commission. Soon afterwards the nation of Lebanon purchased the building for its United Nations mission for an unclear price. Israel-aligned groups occasionally staged raucous demonstrations outside, and a pipe bomb detonated by an unknown party exploded on No. 9’s limestone steps in 1982. Today the mission is located closer to the U.N. at 866 United Nations Plaza, though Lebanon’s consul general, Ambassador Dr. Abir Audi, still lives at No. 9.
16 E. 76TH ST.
A legacy of art and fashion echoes through the halls of this red brick-and-terracotta prewar townhouse. Stephen Mazoh, a dealer in Abstract Expressionist pieces, operated a well-known gallery in the 19-foot-wide neo-Georgian building in the 1980s. Apparel mogul Calvin Klein then bought the 8,600-square-foot dwelling in 1988 for about $7 million, according to the city register, but sold it three years later at a reported loss for $5 million. The buyer in 1991 was the Italian government, which styled the rooms with Renaissance paintings and a bust of Julius Caesar as it became the home of Italian United Nations envoy Maurizio Massari. Italy has now decided to part with the property after more than three decades. The building, which features a living room with a fireplace, a paneled library and a small elevator, hit the market in June 2023 for $20 million. However the country’s “for sale by owner” strategy, as spelled out on a sign dangling from a balustrade, does not seem to have worked. Despite two price cuts, the building is still for sale, and Italian officials have been looking for help from a proper real estate broker.
980 MADISON AVE.
Guests who wanted to stay for a while in the historic Surrey Hotel in the prewar days could enjoy a home-like experience in spaces laid out like apartments. Former owner Denihan Hospitality Group, which spent $60 million on a 2008 makeover, once specialized in long-term stay properties. In recent years, the site’s ownership structure became layered. Denihan owned and operated the 190-room property on a site controlled by developer Ashkenazy Acquisition by way of a ground lease from the landlord Kaufman Org. But Denihan’s failure to pay $500,000 a month rents in 2020 set in motion a chain of events that squeezed out Denihan and Ashkenazy. It also paved the way for British firm Reuben Brothers to snap up the land and building for $150 million, according to public records. Though some construction remains, the 16-story building opened last month as a 100-room hotel operated by the English firm Corinthia. The property, designed by Schwartz & Gross of 55 Central Park West fame (the Ghostbusters building), will welcome an additional 14 condo units in 2025. The ground-level space that had contained neighborhood mainstay Café Boulud from 1998 to 2021 is as of late last month now part of Casa Tua, a public restaurant that also offers a private club. Firm founders David and Simon Reuben, billionaire brothers who are part of one of the United Kingdom’s wealthiest families, have been in acquisition mode in New York, where they have also picked up sites in NoHo and SoHo from Vornado Realty Trust.
If the intersection of Madison and East 76th seems steeped in art, this block-long building may be why. Built in 1949 as a sort of one-stop shop for the art sales world, the 119,000-square-foot Parke-Bernet Galleries offered auction rooms, painting storage areas and gallery spaces, and it quickly made an imprint on the area. The Rockefeller family was once an owner of the building, which has an aluminum likeness of Venus clutching fire above its front door. Developer Peter Jay Sharp, whose holdings included 1370 Sixth Ave., 450 Park Ave. and the nearby Carlyle Hotel, also was once an owner of No. 980. Developer RFR Holding picked it up in 2004 from the Sharp estate for $118.6 million, and Aby Rosen’s firm later announced plans to add two tall glass towers on the six-story site’s roof. But in the face of fierce local opposition, the appendages were never built. Earlier this year an entity linked to billionaire former mayor Michael Bloomberg snapped up No. 980 from RFR for $560 million in a blockbuster deal. Reporting suggested Bloomberg had previously pushed to lease the majority of the building, but a major tenant, the gallery Gagosian, stood in his way. Over the years, as the gallery scene ebbed, No. 980 added clothing boutiques, a list that today includes a women’s only outpost of the contemporary clothing chain Vince.
35 E. 76TH ST.
The 40-story Art Deco tower that has occupied this corner since 1930, the Carlyle, is considered one of the world’s top hotels. Every U.S. president from Harry Truman to Bill Clinton supposedly stayed there. And Hollywood stars who attend the annual Costume Institute Benefit gala at the nearby Met Museum often slip into their eye-catching garb in its rooms. The childlike drawings by Madeline writer and illustrator Ludwig Bemelmans inside its 77-year-old Bemelmans Bar belie the complex real estate reality of the site. The Carlyle is divided into a 192-room hotel operated by the company Rosewood, after it bought a stake for a reported $130 million in 2001, and a 60-room co-op. The residential portion’s owners have included the late billionaire Viacom chairman Sumner Redstone, who had a two-bedroom on the 32nd story, according to the city register, and publishing heiress Patty Hearst, who lived on the fifth floor. Doors from the hotel lead into a sister building also completed during the Great Depression, the co-op Carlyle House, a 15-story, 42-unit offering whose official entrance is at 50 E. 77th St.
971 MADISON AVE.
Zitomer, a pharmacy that occupies a recently renovated three-floor berth, has been in business since 1950 and at this location, its fourth in the neighborhood, since 1986. A doorman greets visitors, who on a recent pre-Halloween afternoon squeezed past a heap of masquerade-style masks atop a cosmetics display case. Tucked in the back is a bodega-style counter that dispenses snacks, drinks and lottery tickets. Zitomer owner Sharon Sternheim bought her space from Blenheim Trading Corp. in 2004 for about $18 million, according to a deed. The retail portion of the building, which dates to 1982, was constructed to house art galleries, given its location in a hub of the Upper East Side’s gallery scene. The residential tower atop it, built at the same time, is still known as The Gallery today and uses the address 32 E. 76th St. Long Island firm Arminjo Realty Corp. was the project’s initial developer, though after sales of its 32 condo units failed to catch fire, a Japanese firm, Haseko Corp., took over the project in 1983, according to news clips.
The 15-story building on this site doesn’t look particularly cramped. But its dimensions seem to have been an issue in the mid-1970s, when a medical facility located there, the Madison Avenue Hospital, racked up violations because of having an insufficient number of ways to get in and out. “We are still negotiating with the owner of [the] adjacent property for a place to put another exit, but there are cost factors,” the hospital’s administrator told The New York Times at the time. But by 1976, the 117-bed facility closed for good. The next decade, Kenneth and Lucille Gladstone’s development firm Madison Equities converted the prewar tower into a 15-unit condo whose sales produced a $15.4 million haul, according to its offering plan, or about $47 million today when adjusting for inflation. Two units at the condo, which uses the address 30 E. 76th St., were for sale in early November: a three-bedroom for about $3 million and a five-bedroom for about $5 million. The Madison Avenue side, meanwhile, offers a retail space leased to high-end candle company Diptyque, which has had a presence there for about 15 years. It expanded in 2022 to become the site’s sole commercial tenant.
20 E. 76TH ST., LENOX HILL
9 E. 76TH ST.
969 MADISON AVE.
20 E. 76TH ST.
Office building featured on ‘Seinfeld’ has no value today
By Aaron Elstein
The 800,000-square-foot office tower at 1325 Sixth Ave. is little remarked-upon. It doesn’t have an entry in the AIA Guide to New York City, which describes 28 other buildings on the avenue. Nor is it convenient to Grand Central Terminal or Penn Station and its vacancy rate is 15%, which is neither unusually high nor low.
Yet 1325 Sixth possesses cultural capital that no other building has: It’s where Elaine Benes worked for J. Peterman on “Seinfeld.”
1325 Sixth’s concrete facade flashed on screen anytime the action shifted to Elaine’s career with fashion marketer J. Peterman, a self-acknowledged master of the catalog-copywriter’s guild who strolled into his office one day and declared: “The dry air is curing me like a Black Forest ham.”
The building landed a mention in an analysis of Paramount Group’s 12 million square feet worth of office buildings in Manhattan and downtown San Francisco by Steve Sakwa of Evercore ISI. The analyst contends that the “Seinfeld” building is worth only the land it stands on.
Paramount’s portfolio has an average vacancy rate is 21% and the stock is worth less than $5 a share.
In the event Paramount were to throw in the towel and liquidate, its portfolio wouldn’t sell for much, Sakwa wrote in his analysis. Three unencumbered buildings would sell for their land value, said Sakwa, who valued the ground underneath 1325 Sixth and the two others at $300 per square foot.
$240 million valuation
That implies a $240 million valuation for 1325’s ground, which could be a bargain, with the caveat that the land comes with ailing building attached.
Sakwa wasn’t available for comment. Paramount did not return a call or email before this story posted.
1325 Sixth is also a reason why Albany shells out hundreds of millions a year in cash refunds to Hollywood producers.
The building’s interiors on “Seinfeld” were filmed in California, same as other shows based in New York, such as “Friends” and “The Odd Couple.” The state decided this state of affairs wouldn’t do, so six years after Seinfeld’s run ended in 1998 Albany began writing checks, called refundable credits, to movie and TV producers who filmed their shows on soundstages in places like Brooklyn or Queens. New York’s generous incentive to the studios has delivered precious little in return for taxpayers, according to the Citi-
zens Budget Commission, but since it was instituted just about every state in the country has imitated it.
1325 Sixth was developed by Edward J. Minskoff in 1989, so it would have been new when Elaine and Mr. Peterman worked in the 1990s.
J. Peterman Co. was a real catalog company. In 1990 it had nearly $20 million in sales and employed at least 75 people. Owner’s Manual was the flagship publication and the flagship product was the Cowboy Duster, a jacket that evoked ranch life and was popular on the
Upper East Side. Founder John Peterman told the Harvard Business Review in 1999 that success came from being “truly romantic, unique, and authentic.”
J. Peterman Co. filed for bankruptcy in 1999 and was acquired by Paul Harris. Owner’s Manual is still published digitally, but the J. Peterman Wikipedia page doesn’t seem to have been updated since 2018. The “press inquiries” link on its website leads to a page that says “Coming soon!”
The real Peterman said he thought about using the fake Peterman to promote his business,
but decided against it.
“Hanging our business to dovetail with the fictitious one on television would have been too much
of a commercial move,” he said, “and our business had been built around the idea of staying away from commercialism.”
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J. Peterman and Elaine on “Seinfeld,” and 1325 Sixth Ave. GeTTY ImAGeS, bUCK eNNIS
New York gives Democrats a sliver of hope
Despite a disastrous night for the party nationally, Democrats won key races in New York for a chance of a majority
In a disastrous night for Democrats, Kamala Harris lost the presidency to Donald Trump — but that does not mean her party in New York was completely doomed.
Hakeem Je ries, a Brooklyn Democrat, could end up the speaker of the House. Even as Trump was on track to win the presidency and Republicans had retaken the Senate, Democrats maintained a chance of taking back the House majority as of Friday afternoon. After New York Democrats were maligned in 2022 for blowing it — Nancy Pelosi even directly blamed Gov. Kathy Hochul — redemption suddenly seemed in the o ng.
Mannion, the Democratic challenger, was declared the victor over Republican Brandon Williams in the Syracuse area. Tom Suozzi, who ipped George Santos’ seat earlier this year, won again. All four Democrats could help deliver the majority, which may crest about as high as 219 seats for Democrats nationally.
Harris ran behind Joe Biden’s 2020 performance.
Proposition 1 passed statewide, codifying abortion rights in the state constitution. Despite furious opposition, the amendment made it through. Hochul can take some credit for that, even if abortion rights were already popular in New York.
More importantly, for Democrats, they ipped several crucial House districts. Josh Riley beat Republican incumbent Marc Molinaro in the Hudson Valley, Laura Gillen narrowly defeated Republican incumbent Anthony D’Esposito on Long Island, and John
Trump made tremendous gains across the state and performed better than any Republican in New York City since the 1980s.
But Riley, Gillen and Mannion were able to effectively fundraise and stump in districts that were moderately favorable to them, if always challenging in years like these. at will have to be what Democrats hang their hats on. ere isn’t much else. Trump ran stronger than he did in 2016 and 2020. He grew his vote share with nonwhite voters and proved, despite his indictments and his endless controversies, that he’s a durable commodity. e Democratic establishment, nationally, will have to gure out how they were whipped.
In New York, they can talk up their wins. A Democratic House, if
2 Wall St. eyed for partial conversion of of ces to residential
By Julianne Cuba
Another o ce tower in the Financial District is slated for a residential conversion.
Plans have been led to turn portions of the upper oors of the 21-story tower at 2 Wall St. into housing, with the lower oors remaining o ce space, according to permits led with the Department of Buildings this month.
e plans call for 121 apartments across oors eight through
chel Wooten Barley, a senior property manager at the Midtown-headquartered global real estate rm Newmark, submitted the permits and is listed as the owner of the application, although Newmark is likely the property manager.
Acquired for $13.7 million
The Financial District of ce tower is managed by Newmark, which led the plans on behalf of its owner.
21, interspersed with amenities such as a coworking space, a game room and a lounge, records show.
e cellar through the seventh oor would remain o ces fornancial services — a TD Bank is a major tenant in the building. Ra-
led by Je ries, will exist to roadblock Trump’s legislative agenda. It will be a version of the dynamic that greeted Barack Obama after Republicans won the House in 2010. e Tea Party could not govern, but it could stop Obama in his tracks.
Trump can sign executive orders and appoint judges. Clarence omas and Samuel Alito could strategically retire to ensure the conservative Supreme Court majority is maintained. He will get to ll more judicial vacancies and appoint right-wing federal judges.
Couldn’t be scripted
If he wants bills passed, though, he won’t have much luck with a Democratic House. e irony here is that New York Democratic losses in 2022 cost Democrats the House majority. By that same margin, possibly, they will reclaim it. It’s a twist that couldn’t be
scripted. is doesn’t mean the Democrats don’t have deep problems here. Trump continued to gain ground. Latinos and Asians, in particular, shifted even further into the Republican column. In Brooklyn, a Democratic state senator in a heavily Chinese district, Iwen Chu, was wiped out. Republican Steven Chan beat her as Trump romped in the district. Another Asian Democrat, Assembly-
Ron Kim, did survive in Queens.
Republicans may still take control of Congress, however, and hand Trump a trifecta. Votes are being counted. What is clear, at least, is that voters showed up for enough House Democratic candidates in New York to give the national Democrats something to hope for.
Ross Barkan is a journalist and author in New York City.
e circa-1932 o ce tower, between Broadway and Nassau Street, is owned by the limited liability company Fieldstone Capital. It is associated with Hong Kong-based rm Aegis Asset Management, whose CEO is Patrick Hotung, records show. Fieldstone acquired the building in 1996 for $13.7 million, according to PincusCo, which rst reported on the plans.
Hotung sold an undisclosed stake in the building for $25 million to an anonymous limited liability company named after the address, according to a deed that
appeared in the city register last month. Bachir Karam, a partner at Lower Manhattan-based law rm Sullivan & Cromwell, represented the buyer. Karam did not return a request for comment. Newmark declined to com-
ment, and attempts to reach Aegis were unsuccessful by press time.
e conversion plans led for 2 Wall St. are just one of several in the works across the city, and especially in the Financial District.
Weeks ago, Penn Plaza-based developer Bushburg led similar plans to convert a portion of 80 Pine St. from o ces into housing, joining others already in the pipeline, including 222 Broadway, 25 Water St. and 55 Broad St.
man
Ross Barkan
Democrats won key races in New York that could block Donald Trump’s agenda. BLOOMBERG
2 Wall Street BUCK ENNIS
4 questions in the air at Somos, New York’s political confab
By Nick Garber
A feeling of unreality was in the air at Somos, the annual New York political confab in Puerto Rico, where attendees were keeping up their pace of frenzied schmoozing even as Donald Trump’s victory promised a turbulent new era.
“We lost. What are you going to do?” shrugged one lobbyist at an opening-night reception at the Caribe Hilton in San Juan. The sense of resignation was a far cry from the shock and horror in Democratic circles after Trump’s first win in 2016 — although New York politicos are only beginning to grapple with the Republican Party’s major gains in the five boroughs.
“We still have to have specific conversations about how to move forward and what to do,” state Sen. Jamaal Bailey, the chair of the Bronx Democratic Party, told Crain’s on Nov. 7, acknowledging that he hadn’t fully processed the
activist. “It’s going to be the worst four years of our lives.”
In conversations with some of the elected officials, lobbyists and strategists in attendance at this year’s Somos conference, a few big questions predominate.
Will Trump’s win help Eric Adams, or hurt him?
New York’s Democratic mayor, indicted in September by President Joe Biden’s Justice Department, was notably restrained in his support for Kamala Harris in the runup to the Nov. 5 election and continued that approach following Trump’s win. Adams’ reluctance to make an enemy of Trump has increased the speculation — dismissed by the mayor’s camp — that he is trying to cozy up to the president-elect.
“It has been clear that the mayor has been reluctant to criticize Donald Trump, and I will leave it to others to speculate as to why,”
Trump’s win, Latino voters and the City Council speaker’s race were all up for discussion in San Juan.
GOP’s significant inroads in his own borough. “Is there something to do? Certainly, there is, and what that is is going to be played out in the days and weeks and months to come.”
Others had already made up their minds about the implications of Trump’s win.
“It’s going to be a f---ing nightmare,” said Allen Roskoff, a veteran Manhattan Democratic Party
state Sen. Zellnor Myrie told Crain’s on Nov. 7. He is one of five people running against Adams in next year’s mayoral primary. (All of Adams’ challengers were in attendance at Somos, but Adams himself said Nov. 7 he had canceled plans to attend in order to keep an eye on the city after the election.)
Among those willing to speculate was Julie Won, a progressive City Councilwoman from Queens, who wrote on X that Adams was the “biggest winner of the presidential election in NYC.”
“Eric Adams will be pardoned by Trump,” Won wrote Nov. 6. “Adams was probably at a nightclub popping champagne or on a flight to Trump victory party last night.”
Trump won about 30% of votes in the city according to unofficial results, a nearly 8-point improvement from 2020. Some at the Somos conference speculated that, as a moderate, Adams may be encouraged by the conservative swings in parts of Queens, South Brooklyn and the Bronx, as he looks to fend off more left-wing challengers next year.
Then again, Trump’s first term gave rise to a progressive upswell within the city, which could boost progressive candidates for mayor like state Sen. Jessica Ramos, City Comptroller Brad Lander and Assemblyman Zohran Mamdani, all of whom have been making the rounds in San Juan.
What’s the future of congestion pricing?
Janno Lieber, CEO of the Metropolitan Transportation Authority, was in attendance at Somos, where he was holding meetings
with state legislators to shore up funding support for the MTA’s new $68 billion capital plan.
Also on Lieber’s mind, no doubt, is the future of congestion pricing and Gov. Kathy Hochul’s still-unspecified plan to make up for the billions of dollars in revenue it was supposed to direct to the MTA. Hochul has promised to unveil her new plan sometime in the coming weeks, which may or may not include a revised congestion toll — although it’s unclear whether she would need to seek approval from Trump, who has promised to kill the program.
In an interview with Crain’s on Nov. 7, Lieber said that Hochul has congestion pricing “front of mind — that’s been evident in her last couple of public appearances.”
“I know she’s wrestling with the issue,” Lieber said, declining to speculate about whether the state would need new federal approvals. “Obviously, the federal process that took place, which is now being litigated, does create constraints on what you can do, process-wise.”
As for whether a new Republican White House might endanger the MTA’s finances — given Trump’s general hostility toward public transit — Lieber argued that transportation funding had retained bipartisan support even during Trump’s first term. And he pointed out that the city and state, not Washington, provide the bulk of the MTA’s funding.
“That’s why I’m here,” he said. Latino voters swung right — what does that mean for New York?
Exit polls showed Latino voters across the U.S. swinging by double-digit percentage points toward Trump compared to 2020. Within the city, that shift was visible in predominantly Latino neighborhoods like Corona, Queens, and the Central Bronx.
The implications of that trend were the focus of a Somos panel discussion on Nov. 7. Henry Garri-
do, head of the city workers’ union District Council 37, said the city’s influx of asylum-seekers had fostered frustration among Latino voters — creating a “perception that migrants had it better than the same working-class people in our neighborhoods.”
Garrido, an ally of Mayor Adams’, said he had noticed especially sharp criticism about the city’s efforts to house migrants in hotels, as well as a program that gave debit cards to asylum seekers to help pay for food.
Luis Miranda, a longtime Latino political strategist, told Crain’s that the swing toward the GOP in the presidential race would not necessarily replicate itself in future races for local offices like mayor or City Council.
“I don’t think there are many Trumps in the world. There are not so many rich, racist, charismatic people in the United States,” Miranda said. But, he added, “on the Democratic side, we cannot take Latinos for granted anymore.”
Who’s going to be City Council speaker?
In past years, Somos has been known as a place where City Council speakers are unofficially crowned. The jockeying is well underway in the race to succeed Adrienne Adams, which will begin in earnest once she is term-limited from office after the 2025 general election.
Leading candidates include Manhattan’s Julie Menin, Crystal Hudson of Brooklyn, Kevin Riley and Amanda Farias of the Bronx, and Selvena Brooks-Powers of Queens.
Several of those lawmakers were mingling with their fellow council members on Nov. 6 and 7. Menin was also speaking with officials from the Hotel and Gaming Trades Council — a powerful union that could provide key support after she successfully marshaled a controversial union-backed licensing bill that was signed into law by Mayor Adams recently.
People gathered Nov. 6 at the bar of the Caribe Hilton hotel during this year’s Somos Puerto Rico conference. NICK GArber
State Assemblyman and mayoral candidate Zohran Mamdani (left) spoke with MTA CEO Janno Lieber (right) at the Somos conference on Nov. 7. | NICK GArber
Election results show leaders must tackle
New York City’s affordability issues
President-elect Donald Trump didn’t win New York City last week — he collected about 30% of the votes — but he made inroads in every borough and delivered the best presidential performance for a Republican in New York City since 1992. Polls show the economy and in ation were top of mind for most voters.
at should be a wakeup call for city leaders who have been glacially slow at tackling quality of life and a ordability, dawdling in search of perfect solutions as we fall behind peer cities around the world. e election shows that New York Democrats should not take their own job security for granted.
ere are signs Gov. Kathy Hochul and Mayor Eric Adams have been correctly reading the political tea leaves, but their actions have not always inspired condence.
Hochul panicked over weak Democratic support in the suburbs and froze congestion pricing, a smart way to invest in transit and improve quality of life that taxpayers had already committed nearly $1 billion to launch. e move may have
helped stem the political tide in the short term, as Democrats recaptured three House seats, but it passed the buck on funding critical infrastructure and an opportunity to bank longterm political capital.
Adams, for his part, appeared to pander to Trump in the election’s closing days around what both perceive as overreach of the Justice Department under President Joe Biden. Critics suggested the mayor, who is facing federal corruption charges, avoided criticizing Trump and tepidly endorsed Vice President Kamala Harris in hopes Trump will shut down the case against him.
Focusing on pocketbook issues for New Yorkers would be a better bet: e return of in ation levels to historical norms does
Green rides initiative marks one year, enters next phase
Ihad the pleasure of speaking with this publication’s editor-in-chief, Cory Schouten, during a reside chat at the Crain’s Tech Summit. Regardless of whatever else is going on, it always makes me feel optimistic to be in a room of New York’s tech leaders: people launching new ideas, reimagining our city for the better and shaping the policies that move New York forward.
People like the NYC Economic Development Corporation President and CEO Andrew Kimball, who spoke with Cory right after me. Revel partnered with EDC to develop our newest public electric vehicle fast-charging station on Pier 36, the rst 24/7 station in Manhattan. We may take it for granted, but it’s not a given that government is eager to work with the private sector so productively. It’s part of what makes New York such fertile ground for founders. My industry is a great example. New York once faced a classic chicken-and-egg problem with EVs. People who live in apartments without a home garage to charge overnight — which is most of us in the city — can’t own an EV unless there’s public charging available. And without a market of EV drivers, charging developers
can’t justify the steep upfront costs to build sites. Revel’s integrated rideshare and charging model, bringing supply and demand together, helped get EV infrastructure o the ground. But it was never a problem we could solve alone.
In the last year, the situation has signi cantly improved thanks largely to the Taxi & Limousine Commissions’ Green Rides Initiative, on top of federal, state and utility EV incentives. e initiative, which just crossed its oneyear mark, mandates the rideshare industry transition to fully electric vehicles by 2030. e TLC recently issued a report on the rst year of progress, and the ndings are incredibly positive. More than 10,000 new EVs hit the road and delivered more than 14 million electric rides, an o set of 19,000 metric tons of CO2 emissions and 36 metric tons of NOx (the pollutants most responsible for smog) — the equivalent of burning 2 million gallons of gas. at’s a massive air quality win for New Yorkers. Green Rides has given con dence to us, and the industry overall, to continue investing in EV infrastructure because we know demand will be there. In 2023, virtually all of Revel’s charging activity was our own ride-
not mean prices are falling, particularly in the city. e cost of housing here is 400% higher than the national average, utilities are 9% higher, and groceries are 15% higher, according to Payscale Inc.
Both Hochul and Adams have appropriately raised alarm bells about a crisis-level shortage of housing that continues to drive rents higher — but they need to nd ways to inspire more urgency from their colleagues in Albany and at City Hall, where NIMBY sensibilities are alive and well. For instance, the zoning reforms known as City of Yes that would allow more housing development are facing calls from some council members to add back parking requirements, a move that would sharply reduce the volume of new
housing. And in exchange for approval of the plan, the council has demanded a laundry list of investments in unrelated affordable housing programs.
City leaders, on the other hand, managed to come up with billions of dollars in short order to house migrants in hotels and give them debit cards to help buy food — one reason a lot of the city’s Latino voters, historically a reliable Democratic bloc, decamped to support Trump. (Immediately after the election, Adams said the city is ending the debit-card program. He also managed to get a ballot initiative passed that requires more scrutiny on costs for City Council initiatives.)
Henry Garrido, who heads a city workers’ union, said at the Somos political confab in Puerto Rico that the city’s lavish spending on asylum-seekers created a “perception that migrants had it better than the same working-class people in our neighborhoods.”
at suggests a critical takeaway for those New York elected o cials who are soul-searching the presidential results: Elections always come down to economics.
share eet. In 2024, public charging took the lead, with more than 80% of that charging coming from rideshare drivers. We’re now charging 10 times the number of vehicles per day, and rising, than we were in 2023.
It’s clear New York is entering the next phase of EV adoption. Or as I told Cory, the egg has hatched. ere’s real opportunity for charging developers and, while I won’t argue it’s as easy as owning a gas car yet, drivers can reasonably choose to go electric. Going forward, the mandate becomes how the private and public sectors continue to work together to build on this year’s success.
We’re scaling our charging network and targeting 200-plus chargers next year, but
the gap to 2030 is in the thousands. e city should remove barriers so the industry can make the investments needed to ful ll the policy ambition, such as allowing fast-charging sites in residentially zoned areas where drivers actually live, or waiving TLC fees for rideshare drivers registering EVs to nancially incentivize them to switch and boost organic demand.
Speaking at the Tech Summit reminded me of the energy there is for change in this city, whether for City of Yes housing, congestion pricing, more open streets or the EV transition. e key to succeeding on all of that, especially for Green Rides, is creating opportunities for business to do what it does best: grow.
Frank Reig is the co-founder and CEO of Revel.
Mayor Eric Adams hooks up a Revel vehicle at the launch of the company’s Williamsburg super-hub in April 2023. | ED REED/MAYORAL PHOTOGRAPHY OFFICE
BLOOMBERG
increase affordable housing for seniors
Is getting older truly a privilege? Imagine this — you work hard all your life, put food on the table, struggle to balance work and family life all while helping to build your community, and then you retire. Now, you are living on a xed income and taking on an entirely new balancing act. As in ation increases everyday costs, do you pay for your rent or for food on your limited budget? Do you pay for your rent, or that doctor’s appointment or the electric bill? ese are the tough questions seniors face. Housing is a basic human right, and nding that housing should not make all of life’s other considerations impossible to a ord. As the executive director of HANAC, a New York City based non-pro t that provides support and a ordable housing to older adults, I ercely advocate on behalf of seniors to ensure they have a place they can age with dignity and respect in the communities they helped build.
eligible for assistance or are too proud to seek it. After a long life of often providing for a full family, it can be di cult to acknowledge that you need help taking care of yourself or your partner.
4. Identify underutilized buildings or structures like parking lots and convert them into housing units. As remote work has risen due to Covid-19, many city o ce buildings have remained vacant and
underutilized. In fact, according to the city Comptroller’s O ce, ofce vacancy rates in Manhattan reached 23.6% as of June 2024, “slightly higher than the last quarter of FY 2023.” (I bet more New Yorkers would like to see a safe, a ordable apartment for grandma over yet another empty conference room).
5. Address issues that affect seniors beyond housing, such as
transportation, information and services referral, mental health, food insecurity and access to health care (without the need to keep paying co-pays).
It is imperative that we as a society start revering our elders and
a ord them the time and space to age gracefully. Otherwise, we will wake up one day as seniors ourselves and nd that we are in the same unfortunate position, facing the balancing act and hardships that seniors are dealing with now.
THANK YOU FOR MAKING OUR THIRD ANNUAL HEALTH FORUM A SUCCESS!
In recent years, New York City has put an enormous e ort into expanding a ordable housing access, but even these changes don’t provide access to housing now. It’s a simple supply and demand issue. Currently, we have many seniors on xed incomes that need quality housing, and an increasing number of them need special services as well. In the city, there is very limited usable space to convert to housing, and when space is nally identi ed, it takes a long time to build (at a minimum 18 to 24 months). To add to the list of di culties, many communities deal with NIMBY-ism, with neighbors asserting they want a ordable housing in their cities, just not in their backyard.
To speed up the supply of our housing stock, the most crucial next steps are as follows:
1. Educate communities to stop the spread of misinformation and fear-mongering and to inform them about what it means to have a ordable housing in their neighborhoods. For example, when buildings have amenities like green spaces, common areas and beautiful decor, it combats the common misconception that affordable housing is an eyesore.
2. Increase and expand housing vouchers currently being given so that landlords can ll vacant units and vocally advocate for their acceptance. Landlords sometimes do not take tenants with housing vouchers due to pre-existing stigma.
3. Advertise housing vouchers to tenants so that individuals can take advantage of them. Some people either don’t know they are
On September 19th, 2024, government leaders, health experts, and community advocates joined us to confront one of New York’s most pressing issues — the rising cost of hospital care. The Price of Power: Confronting the Hospital Affordability Crisis gathered voices from across sectors to discuss real solutions for a healthier, more affordable future.
Stacy Bliagos is the executive director of HANAC.
A rendering of Sutphin Senior Residence in Jamaica, Queens BERNHEIMER
The industries that drive New York – and the city itself – are at a major crossroads. What kind of city do we want to be? How will business drive the future of housing, work, health care, climate change, technology, arts and transportation in the Big Apple? Crain’s New York Business & Partnership for New York City will dive deep into the innovations, challenges and pivotal developments that will inspire the city’s reinvention over the next 50 years.
NOTABLE LEADERS IN HEALTH CARE
“We make a living by what we get. We make a life by what we give.”
For the 750,000 health care workers in New York City, Winston Churchill’s words are more guiding principle than maxim. The professionals who deliver care directly and support it through technology, operations and finances exert their energies daily to ensure the well-being of New Yorkers. And their efforts in hospitals, health clinics, research centers and elsewhere have helped catapult New York to the eighth highest-ranking state for health care, according to U.S. News and World Report. Individuals working in the field — a major piston in New York City’s economic engine — contribute to the metropolis’s overall flourishing as well. With all this in mind, we selected 53 honorees for our 2024 Notable Leaders in Health Care. The people you’ll meet here are treating chronic illness, leading innovative women’s health platforms, investing in community-based organizations, guiding Ph.D. students, providing elder care and ensuring equitable access for diverse populations. Join us in celebrating their exceptional accomplishments and meaningful progress across the health care sector.
METHODOLOGY: The featured honorees were put forward for consideration by their peers, companies and acquaintances. Crain’s New York Business editors then selected these nominees based on their demonstrated accomplishments, professional success and meaningful contributions to their respective industries, as represented in the eligibility section of their nomination form.
Christopher Aguwa
Chief commercial officer, Lane Health
Scope of work: Christopher Aguwa is the chief commercial officer at Lane Health, a fintech-enabled health care benefit services company. He is accountable for growing sustainable revenue and developing corporate strategy to increase affordability and access to care for end users.
Biggest career win: Aguwa has been able to grow business through innovative partnerships that empower patients to have more agency in their health care journey. They include value-based care partnerships that increase access, whole-person care and channel partner marketing agreements with health plans, providers and employers.
Other contributions: Aguwa is a member of the board of directors and treasurer of the Council of Urban Professionals, which has locations in New York City and Los Angeles.
Steven
Brick Administrator, Mosholu Parkway Nursing and Rehabilitation Center
Scope of work: As an administrator at Mosholu Parkway Nursing and Rehabilitation Center, Steven Brick oversees a team of approximately 150 staff members, managing a multimillion-dollar budget. His responsibilities include ensuring regulatory compliance, enhancing patient care and optimizing operational efficiency.
Biggest career win: Brick’s most significant career achievement in the past five years occurred during his tenure at Family of Caring in Tenafly. He successfully grew the census from 60% occupancy to full capacity, involving himself directly in the recruitment process. His leadership transformed the facility into a 5-star establishment.
Other contributions: Brick is active in his house of worship and has created spiritual gatherings in his town to bring all worship houses together to celebrate occasions.
Pete Anevski
Chief executive officer, Progyny
Scope of work: As chief executive officer of Progyny, a fertility, family-building and women’s health benefits solution, Pete Anevski drives the vision of making such services accessible to all. Under his leadership, Progyny grew 38% year-overyear from 2022 to 2023, expanded its offerings with Progyny Rx, male fertility services and menopause support while surpassing $1 billion in revenue.
Biggest career win: Anevski leverages Progyny’s expertise to extend support to underserved areas of women’s health, further empowering individuals and families with health care solutions.
Other contributions: Anevski has championed diversity, equity and inclusion at Progyny, establishing employee resource groups and mentorship programs. His commitment to sustainability is reflected in Progyny’s building, which runs on renewable energy.
Gregory Bunt
Medical director, Samaritan Daytop Village
Scope of work: As the medical director of the nonprofit provider Samaritan Daytop Village, Gregory Bunt, a physician, oversees all medical staff and services, including psychiatry, behavioral health and primary care across 15 community-based and 11 residential treatment programs as well as 34 transitional housing facilities.
Biggest career win: Under Bunt’s leadership, medical personnel have successfully integrated medical, behavioral health and addiction treatment in response to the growing need to address patients’ co-occurring medical conditions holistically.
Other contributions: Bunt is a fellow of the American Society of Addiction Medicine and a distinguished fellow of the International Society of Addiction Medicine. He has published dozens of peer reviewed papers on therapeutic communities, addiction and treatment for adolescents.
Chief equity officer and senior vice president of medical management, EmblemHealth
Scope of work: Abdou Bah serves as chief equity officer and senior vice president of medical management for EmblemHealth. He focuses on business priorities including medical cost management, quality improvement and implementation of clinical initiatives surrounding Medicare beneficiaries to improve the health of more than 3 million members that EmblemHealth covers.
Biggest career win: Bah was instrumental in securing Health Equity Accreditation from the National Committee for Quality Assurance for EmblemHealth, making it the first health insurer in New York State to be awarded the accreditation across three product lines.
Other contributions: Bah was recently part of a committee that hosted a panel called “Expanding Cardiac Rehab in New York.”
Chief executive officer, professor and Kenneth L. Davis distinguished chair, Mount Sinai Health System
Scope of work: Brendan Carr serves as chief executive officer, professor and Kenneth L. Davis, MD, distinguished chair at Mount Sinai Health System, one of New York City’s largest health care networks. A physician, he provides strategic leadership, overseeing compassionate patient care, advancing education and research and fostering community outreach.
Biggest career win: During the Covid-19 pandemic, Carr expanded the health system’s emergency and critical care capacity, implementing innovative care protocols and ensuring staff and resource optimization. His initiatives solidified Mount Sinai’s role as a leading health care provider, setting a benchmark for emergency response nationwide.
Other contributions: Carr is actively involved with the National Academy of Medicine.
Suzanne Bakken
Alumni professor of the school of nursing and professor of biomedical informatics, Columbia University School of Nursing
Scope of work: Suzanne Bakken serves as an alumni professor of the school of nursing and a professor of biomedical informatics at the Columbia University School of Nursing. She has made contributions in terminology and standards, quality improvement and informatics to advance health equity and social justice. Bakken founded the Center for Community-Engaged Health Informatics and Data Science.
Biggest career win: The American Academy of Nursing recently named Bakken a Living Legend.
Other contributions: Bakken serves as editor-in-chief of the Journal of the American Medical Informatics Association and co-chairs the National Institutes of Health’s Engaging the Public as Partners in Clinical Research Working Group.
Executive vice president and chief operating officer, Hospital for Special Surgery
Scope of work: Mary Cassai is the executive vice president and chief operating officer at Hospital for Special Surgery. She presides over the operational landscape of all inpatient and ambulatory sites, optimizing nursing, perioperative services, service lines and facility services.
Biggest career win: Cassai led strategic initiatives that transformed post-anesthesia care units and operating rooms into intensive care units, integrated telehealth, optimized biomedical assets and enhanced clinical systems to allow for optimal access across the health system.
Other contributions: Cassai enhances access to care for diverse communities and is active in initiatives including a health equity task force, a diversity, equity and inclusion executive committee and a supplier diversity program.
Abdou Bah
Brendan Carr
Mary Cassai
Kelly Cassano
Chief executive officer, Mount Sinai Doctors Faculty Practice; dean for clinical affairs, Icahn School of Medicine at Mount Sinai; senior vice president for ambulatory operations, Mount Sinai Health System
Scope of work: Kelly Cassano serves as chief executive officer at the Mount Sinai Doctors Faculty Practice, dean for clinical affairs at the Icahn School of Medicine at Mount Sinai and senior vice president for ambulatory operations for Mount Sinai Health System. She oversees approximately 300 sites and 2,500 physicians, managing their financial performance and strategic growth.
Biggest career win: Under Cassano’s leadership, Mount Sinai became the first New York City health system to implement a digital self-triage system.
Other contributions: Cassano spearheaded pandemic response efforts, including testing and vaccination pods.
Innocent Clement
Chief executive officer and founder, Ciba Health
Scope of work: As the chief executive officer and founder of Ciba Health, Innocent Clement oversees a pioneering health care technology company dedicated to preventing and reversing chronic diseases through digital health solutions. Under his leadership, the company has grown to a team of 63 employees and health providers focused on developing and implementing personalized health programs.
Biggest career win: Clement launched and expanded Ciba Health’s Type 2 Diabetes Reversal Program, a holistic approach for treating diabetes through personalized care and a dedicated provider team. This program has achieved a 93% chronic disease reversal rate.
Other contributions: Clement sits on the board of directors for the CUNY Graduate School of Public Health and Health Policy Foundation.
Jon Cohen
Chief executive officer and director, Talkspace
Scope of work: Jon Cohen, a physician, serves as chief executive officer and director of the online therapy platform Talkspace. He oversees strategic direction and operational management and is responsible for leading day-to-day operations and steering company growth.
Biggest career win: Cohen forged partnerships with organizations such as NYC Teenspace and Baltimore County Public Schools to help combat the youth mental health crisis by providing free therapy. Under his leadership, Talkspace now accepts Medicare, offering therapy to 13 million members.
Other contributions: Cohen has served as a senior advisor to New York Governor David A. Paterson, responsible for policy and strategic planning. He continues to educate and speak on health care accessibility and related topics.
Winifred Cudjoe
Chief operations and management officer, Ronald McDonald House New York
Scope of work: As chief operations and management officer at Ronald McDonald House New York, Winifred Cudjoe helps her organization provide a haven for families battling cancer and other serious illnesses. Leading a team of 32, she oversees programs that support the housing, reservation, guest services and family support needs for families and their children.
Biggest career win: Cudjoe led the development and construction of two Family Room programs, which will offer respite spaces and overnight sleeping rooms for caregivers.
Other contributions: Through her nearly 35 years with the organization, Cudjoe’s efforts have been based on the relationships she’s made with other local organizations, as well as partners across the country.
Glen Davis
Chief medical officer, Institute for Community Living
Scope of work: Glen Davis is chief medical officer of the Institute for Community Living, one of New York City’s largest nonprofit behavioral health organizations. He oversees all clinical operations, leading the agency in providing person-centered care for more than 13,000 individuals across 140 programs annually.
Biggest career win: From 2015 to 2022, Davis led an opioid overdose prevention program where he trained more than 3,300 individuals on opioid overdose response and distributed 4,800 naloxone kits within the community.
Other contributions: Davis’ commitment to public service was shaped by his experience volunteering for two years at a primary care clinic in rural Burkina Faso with the U.S. Peace Corps.
HOW YOU MOVE MAKES A
Amy Divaraniya
Chief executive of cer and founder, Oova
Scope of work: Amy Divaraniya is chief executive of cer and founder of Oova, a women’s health platform known for its physician-backed fertility and perimenopause at-home hormone monitoring. She oversees the development and implementation of at-home hormone kits, ensuring they meet high standards of accuracy and usability.
Biggest career win: Under Divaraniya’s leadership, Oova has tracked more than 15,000 menstrual cycles, providing important data that has advanced the eld of women’s health. The platform’s arti cial intelligence-powered data analytics offer personalized results with a 95% correlation to blood tests, making it a trusted tool for both users and clinicians.
Other contributions: Divaraniya serves on the advisory board of Paterna, a male infertility organization, and speaks at conferences.
Michael Dowling
President and chief executive of cer, Northwell Health
Scope of work: As president and chief executive of cer of Northwell Health, Michael Dowling leads a clinical, academic and research enterprise with a workforce of more than 87,000.
Northwell Health is the largest health care provider and private employer in New York State, caring for more than two million people annually through a vast network of outpatient facilities and hospitals.
Biggest career win: Dowling participated in an invitation-only meeting hosted by the White House Of ce of Gun Violence Prevention. The meeting included health care leaders from across the country.
Other contributions: Dowling is a member of the National Center for Healthcare Leadership, the Greater New York Hospital Association and the Healthcare Association of New York State.
Michelle Drayton
Vice president for health equity, United Way of New York City
Scope of work: Michelle Drayton is vice president for health equity at the nonpro t United Way of New York City. She is a health care executive with more than three decades of experience in program design and development, care coordination, public policy, grant writing and leading teams.
Biggest career win: Drayton implemented a social services platform to support the work of health care workers who are responsible for helping individuals access needed social and health services that improve their wellbeing.
Other contributions: The former founding director of Healthy Start/NYC, she spearheaded a campaign that raised more than $40 million in support of the organization’s mission to reduce infant mortality.
Sharen Duke
Executive director and chief executive of cer, Alliance for Positive Change
Scope of work: Sharen Duke is executive director and chief executive of cer of Alliance for Positive Change, a nonpro t that provides low-income New Yorkers living with HIV and other chronic conditions with access to quality health care, housing, harm reduction, coaching, peer training and job placements. She oversees a team of more than 150 people while managing a multimillion dollar budget.
Biggest career win: Duke has implemented peer education programs and forged partnerships with the city’s top hospitals, expanding and deepening the impact of Alliance. She also continues to strengthen workforce development initiatives.
Other contributions: Duke serves on the board of directors for the Communities Advocating Emergency AIDS Resources Coalition.
Susan Fox
President and chief executive of cer, White Plains Hospital
Scope of work: Susan Fox is president and chief executive of cer of White Plains Hospital. Since joining WPH in 2010, Fox has transformed the hospital into a tertiary hub of advanced care for the region. During her tenure, WPH has quadrupled its operating revenue to about $1.5 billion, while staff has grown to number more than 5,300.
Biggest career win: Under Fox’s leadership, WPH earned the “Five Star” designation from the Centers for Medicare and Medicaid Services in 2022, 2023 and 2024 – the only Hudson Valley hospital to achieve this recognition for three years running.
Other contributions: Fox was appointed to the national board of commissioners of The Joint Commission.
“Medicine is an instrument of social justice that is amplified when we work with others toward common goals.”
Philip O. Ozuah, MD, PhD President and CEO, Montefiore Einstein
Montefiore Einstein Congratulates Philip O. Ozuah, MD, PhD
On his inclusion in Crain’s New York 2024 Notable Health Care Leaders, in recognition of his vision, leadership and dedication to a future of healthcare built on a foundation of global access to state-of-the-art care.
Ken Gibbs
President and chief executive of cer, Maimonides Health
Scope of work: Ken Gibbs has served as president of Maimonides Medical Center since 2016 and became chief executive of cer of Maimonides Health in 2022. Gibbs oversees a staff of more than 7,000 and an annual budget of $2 billion. Under his leadership, Maimonides established the Maimonides Bay Ridge Emergency Department and opened the Maimonides Doctors Multispecialty Pavilion.
Biggest career win: In 2023, Gibbs developed a partnership with SUNY Downstate to provide cancer services to historically underserved Brooklyn communities. Maimonides also earned the LGBTQ+ Healthcare Equality High Performer Designation in the Human Rights Campaign Foundation’s Healthcare Equality Index in 2024.
Other contributions: Gibbs serves on the board of the Healthcare Association of New York State.
Zachariah Hennessey
Executive vice president and chief strategy of cer, Public Health Solutions
Scope of work: Zachariah Hennessey serves as executive vice president and chief strategy of cer at Public Health Solutions, a large public health nonpro t in New York City. He leads the WholeYouNYC, a network of more than 200 partners dedicated to reducing health inequity through access to and investment in community-based organizations.
Biggest career win: Hennessey secured Public Health Solution’s award as the Social Care Network for Queens, Brooklyn and Manhattan.
Other contributions: Hennessey serves on the board of the Ridgewood, Queens YMCA, where he contributes to local health and wellness initiatives. As a fellow of the New York Academy of Medicine, he also participates in advancing health policies and practices.
Christopher Hillyer
President and chief executive of cer, New York Blood Center Enterprises
Scope of work: Christopher Hillyer, a physician, is president and chief executive of cer of New York Blood Center Enterprises. He leads its world-class research institution, as well as operations providing hospitals with one million lifesaving blood products. The organization serves more than 75 million people, more than 400 hospitals and 200 research organizations, academic institutions and biomedical companies around the globe.
Biggest career win: Under Hillyer’s leadership, the center will move into a new state-of-theart campus in Rye, allowing it to provide service to patients in the tri-state area.
Other contributions: Hillyer has dedicated his expertise to many boards, including the American Association of Blood Banks and the National Blood Foundation.
Bridgette Ingraham-Roberts
Director of external affairs, Hackensack Meridian Health
Scope of work: As director of external affairs at Hackensack Meridian Health, Bridgette Ingraham-Roberts is a results-driven executive with experience in government and community relations, public policy analysis and development, marketing, communications and fundraising.
Biggest career win: Ingraham-Roberts lobbied for more than $60 million in capital funds for NYC Health + Hospitals/ South Brooklyn Health from federal, state and local elected of cials to develop a collaborative learning center, renovate the outpatient hematology/oncology practice, build a new ambulatory care practice and expand women’s health services.
Other contributions: Ingraham-Roberts helped spearhead the South Brooklyn Health Collaborative Action for Resilience + Empowerment = Success.
Helen Irving
President and chief executive of cer, Schwarzman Animal Medical Center
Scope of work: Helen Irving is president and chief executive of cer at Schwarzman Animal Medical Center. She joined at the start of 2023, overseeing nearly 550 hospital staff members, welcoming 54,417 visits throughout the year and leading a hospital-wide renovation and expansion.
Biggest career win: Irving redesigned the Of ce of Medical Affairs to be more inclusive of all faculty, incorporating the chief veterinary technician and fostering shared governance. This breaks down silos between veterinarians and support staff, ensuring all roles in patient care are part of decision-making.
Other contributions: Irving serves on the boards of the New York State Hemophilia Consortium and the Medical Advisory Board for the New York Institute of Technology.
Continued on page 33
CEO
Deborah Visconi
Bergen New Bridge Medical Center President and
A special section in partnership with NewYorkCIO
The annual New York ORBIE® Awards honors chief information officers and chief information security officers who have demonstrated excellence in technology leadership. Winners in the Super Global, Global, Large Enterprise, Enterprise, Corporate, CISO Global & CISO Enterprise categories will be announced November 14 at Ziegfeld Ballroom.
WHO’S WHO OF NEWYORKCIO
Meet the Advisory Board & Members of NewYorkCIO PAGE S13
VINCE DORAN Coaction Specialty Insurance Group, Inc.
DAVID FOSTER Colgate-Palmolive
JOHN FRUSHOUR NewYork-Presbyterian Hospital
STEFANO GAGGION Chanel
PETER GILHOOLY St. Mary’s Healthcare, Amsterdam
KEVIN GOKEY Church & Dwight Co
DANIELLE GOMES Johnson & Johnson
JOSEPH GOTHELF Wyndham Hotels & Resorts
SUSANNAH GREENBERG L’Oreal
SHEETAL GUPTA Patterson Belknap Webb & Tyler
MIKE HATCH Infineum
GILL HAUS JP Morgan Chase
KAREN HIGGINS-CARTER Gilbane Inc.
PATRICIA HINERMAN IPG
STEVEN HIRSCH Centers Plan For Healthy Living
JONATHAN HOSEMAN EQ
KATHY HUGHES Northwell Health
JOE INZERILLO SiriusXM
KHALIL JACKSON Federal Reserve Bank of New York
PRACHI KASODHAN Microsoft
MICHAEL KIM MultiPlan
SEAN KOENIG Geisinger
MARC KRONENBERG Wildlife Conservation Society
RACHANA KUMAR Etsy
DAVE LAMPERT Cadwalader, Wickersham & Taft LLP AJ LANG JP Morgan Chase
JEREMY LAWSON Pentegra Services, Inc.
RINA LEONARD OTIS
ARIEL LITVIN First Quality Enterprises
SOPHY LU Northwell
Connected Leaders Move Faster
Great CIOs know technology moves fast, and connected leaders move faster.
NewYorkCIO brings together the preeminent CIOs from New York's largest organizations to enhance leadership e ectiveness, create value, mitigate risks, and share successes. Member-led, non-commercial programs foster meaningful professional relationships, enabling collaboration on shared challenges to gain leadership advantage.
ere is no textbook for how to be a great CIO. Leaders sharpen professional acumen through peer collaboration with others facing similar challenges. While industries and organizations vary in NewYorkCIO, successful leadership approaches are universal.
Members understand the "superpower" of trusted relationships. In any gathering of CIOs, the answer is in the room.
rough regular member-led events and interactions, the collective power of executives working together generates immense value. Everyone wins when ideas,
experiences, and best practices are shared in a collaborative and secure group.
NewYorkCIO connects CIOs to nearly 1,600 lifelong learners across over 40 chapters in the
"Members understand the 'superpower' of trusted relationships. In any gathering of CIOs, the answer is in the room."
Inspire Leadership Network. From public and private companies to government, education, healthcare, and nonpro ts, we exist to help members succeed in one of the most demanding C-suite executive roles.
e principles serving CIOs for over 25 years are now available to CISOs as the Inspire Leadership Network expands, with six chapters
exclusively for CISOs launching in 2024.
e leadership of CIOs transforming organizations in New York is recognized through the ORBIE® Awards. On behalf of NewYorkCIO, I congratulate all the nominees and nalists for their remarkable achievements. A special thank you to the sponsors, underwriters, and sta for making the New York ORBIE® Awards possible.
Sincerely,
Andrea Markstrom
2024 Chair, NewYorkCIO
Chief Information O cer, Schulte Roth & Zabel LLP
Honoring Cyber Security Leadership
Congratulations to our Chief Information Security O cer Michael Palmer for being honored as a New York ORBIE Award CISO Global finalist. We thank you and all the finalists for your work and leadership in this critically important area.
ANDREA MARKSTROM
Delivering Solutions
A Conversation with Leadership Award Recipient Sal Cucchiara, CIO of Wealth Management & Investment Management Technology
SAL CUCCHIARA CIO of Wealth Management & Investment Management Technology
Morgan Stanley
2024 ORBIE Leadership Award recipient Sal Cucchiara has made a tremendous impact on the world of technology for more than 30 years. Eight of those years have been spent at Morgan Stanley, where he currently serves as CIO of Wealth Management & Investment Management Technology.
Cucchiara, who grew up in Queens, NY and worked in construction in his youth, developed an appreciation for hard work and a passion for building that continues to drive him today. Cucchiara recently shared his thoughts on top trends in wealth and asset management technology, as well as how Morgan Stanley drives growth and change in this business sector.
What are your chief responsibilities as CIO of Wealth Management & Investment Management Technology?
I oversee so ware development to deliver solutions to enable our business to support our clients. I’m focused on ensuring platform stability, security, e ciency and the highest level of quality. Keeping up with technology trends is a core part of my function, ensuring that we are bringing the most innovative technology to our clients. In addition, I’m focused on building and investing in our very talented, global workforce that make everything we do possible.
What drew you to working at Morgan Stanley?
I was drawn to Morgan Stanley because the company has strong executive leadership with a clear vision for where they want to take the company. e leadership at Morgan Stanley deeply understands the importance of technology. Morgan Stanley sees technology as an asset, not as an expense, which is a CIO’s dream. When I joined, they were looking for a tech leader to help in uence and execute the strategy. e leadership here has
a growth mindset – with a focus on growing investment in IT and continuing to grow the business.
What are the biggest trends in wealth and asset management technology that you see?
Generative AI is the single most important trend right now. Not just as a standalone technology, but what’s possible when it converges with things like data and predictive analytics, end-to-end processing, cloud-based apps and modern platforms with a turbocharge e ect.
On the surface, these synergies unlock the ability to automate routine tasks, better anticipate market trends, and enable advisors and investment professionals to deliver increasingly personalized client interactions, all while keeping a human in the loop. Behind the scenes, it’s all about driving e ciency and laying the technological groundwork to harness the full capabilities of GenAI now and into the future.
We’ve been on a digital journey for many years, and now with the growth of AI, there is a push to extend our digital initiatives to go beyond structured data into the world of unstructured data.
How does Morgan Stanley drive transformation and innovation in this area?
Transformation is always the most successful when it’s business-led. Since we are very closely aligned with our business, we drive our modernization e orts as a part of business programs rather than as separate initiatives. Additionally, as part of our innovation strategy, Morgan Stanley meets with more than 1,000 startups, high-potential tech companies, and VCs annually.
We’ve also been holding innovation events around the globe for several years – the largest one, called Tech Week, has been held for more than 20 years in Silicon Valley with 100-plus companies participating in the latest edition. We were the rst to establish such an event on the West Coast and our ties to the Valley run deep.
e startups we meet and work with bene t from real-world feedback and access to resources to scale, while we get to learn from their cutting-edge tech stacks and innovative development practices. Fostering this kind of collaborative, innovation ecosystem is what tech is all about.
How has the role of CIO changed over time?
e CIO role was always critical, but now the role is a lot more in uential. Instead of responding to ideas, you’re creating ideas. While we’re not a technology rm, in a lot of ways the rm is enabled through technology.
What is the biggest challenge that CIOs face today?
Demand always exceeds capacity. ere is never a shortage of great ideas. What is challenging is how to prioritize, and how to sequence things in a way where we can e ectively and e ciently deliver. Another challenge is determining how to marry business priorities with technology objectives of modernization. We also are focused on how to make great decisions on when to buy versus build. We aim to buy best-of-breed, while building for di erentiation. AI changes a lot because it’s quick to build, however the testing cycle becomes elongated.
What is your advice to CIOs?
Be in uential. Surround yourself with high-caliber talent who can also be in uential. Make sure you have a good balance of
people with technical and domain expertise to be in uential.
Stay connected to industry partners and trends in technology. Be sure to prioritize security and stability over business enablement and e ciency. Attract talent that will contribute positively to your culture. Last but not least, make sure you are willing to evolve your culture over time.
What is your leadership style?
ere are a few traits that I expect from my leaders, including:
• Commercial mindset – Activate your teams to deliver high quality, commercial solutions, on time.
• Inclusivity – Solicit ideas from all of your employees, showing everyone the same respect. ink before assigning tasks to the same people.
• Courageous Communication – Set clear expectations and align to mutual purpose.
• Driving Growth – Provide team members with avenues for visibility, knowledge and network-building that create career momentum and opportunities to grow.
What projects or endeavors are you most proud of during your time at Morgan Stanley?
We have executed the acquisitions and integrations of Eaton Vance, E*TRADE and Solium simultaneously. is is a huge testament to the team in planning, execution and corporate culture integration. It’s not only the execution of the integrations but also the cultural integration of four diverse companies coming together.
We’re also proud of pioneering the use of GenAI in nancial services. For example, we have rolled out two products that are helping our advisors. AI & MS Assistant is a tool that uses GenAI to answer frequently asked questions from Field users and also de ect calls and chats into the Morgan Stanley Service Network. A second tool we have launched – Debrief – helps to transcribe Zoom meetings, generate notes and surface action items.
What philanthropic work are you most proud of?
e philanthropic work I do is where I get the most reward –such as the partnerships we have had with Year Up and NCWIT – as well as the role I played on the HITEC advisory board.
Year Up is a non-pro t that o ers job training programs and access to career opportunities, aimed at helping students improve their job prospects and social mobility.
e National Center for Women & Information Technology (NCWIT) is an organization which works to increase participation of girls and women in computing. I serve on the advisory board of NCWIT.
What does the future hold for wealth and asset management technology at Morgan Stanley?
Support the business’s drive towards $10 trillion in AUM: Across Wealth and Investment Management, we reached $7.6 trillion of total client assets. Expanding markets and increased client engagement should support growth to $10 trillion and Technology will play an important role in achieving this goal. We will continue our focus on innovation, evaluating new technology trends and staying connected with industry partners and startups. We partner with the best-of-breed and have developed an industry leading platform, and we want to continue investments in that platform to support business growth.
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SUPER GLOBAL FINALISTS
RAMA DONEPUDI VP & CIO, Global Nutrition Reckitt
Rama Donepudi is the SVP, CIO at Reckitt, overseeing the Nutrition Business Unit. With over 22 years of global experience, including signi cant roles within a $20B company, Rama has driven substantial digital transformations. His strategic vision has effectively integrated technology across business operations, signi cantly enhancing revenue and operational ef ciency. Rama holds an MBA from Kellogg School of Management and champions continuous innovation and leadership development within the IT sector.
Rama Donepudi, SVP and CIO at Reckitt, spearheaded the transformative digital strategy for the Nutrition Business Unit, driving remarkable revenue growth and operational ef ciencies. His leadership during the U.S. infant formula crisis involved rapid digital interventions that stabilized the supply chain and maintained market leadership. Under his direction, Reckitt’s Nutrition IT transformed into a highly effective product operating model. Rama’s approach combines innovative technology solutions with strategic business acumen, fostering sustained growth and industry-leading performance.
Corporate VP & CIO Intel Corporation
Motti Finkelstein, CVP & CIO leads the Global IT organization, delivering digital business outcomes while optimizing and automating IT capabilities. Responsibilities include data & analytics, support for corporate functions & supply chain organizations, help desks, end-user technologies, architecture, and infrastructure. He is an advisor for Capri Ventures & Board Member of the American Friends of the Jerusalem College of Technology.
The speed and agility of my organization to support the IDM 2.0 Acceleration Of ce, driving a complete transformation of Intel’s business model is our biggest accomplishment. We are revolutionizing Intel’s business model and enabling separate P&L’s. This impacts the entire nancial organization and legal entity structure of Intel. We’re overhauling our ERP system to cut costs, reduce legacy applications by 40%, and enhancing supply chain and data analytics. The IAO has collectively saved Intel $3B, bolstering margins and cost competitiveness. We’ve built strong relationships and prioritized strategic investments with our BU partners enabling their needs with the latest technologies.
PRACHI KASODHAN
Financial Services, Enterprise CTO Microsoft
Technology Executive with extensive experience in Financial Services and Insurance. At Microsoft, Prachi leads global strategy and execution for one of the largest Global Systemically Important Financial Institutions in the world. Prior to her role at Microsoft, she spent eighteen years between Morgan Stanley and UBS, holding various leadership roles across the Investment Banking Division, Operations, and Equities technology. Passionate advocate for DEI, Prachi is dedicated to fostering inclusive and accessible participation in STEM elds.
With a remarkable career at the forefront of digital innovation, data, and AI, Prachi Kasodhan has established herself as a visionary leader in Financial Services and Technology sectors. Known for a commitment to servant leadership, she excels in talent attraction and retention, consistently driving exceptional customer outcomes. Her relentless focus on harnessing the power of emerging technologies has positioned her as a trailblazer in the industry, shaping the future of Financial Services. Prachi’s dedication to fostering a collaborative and innovative environment continues to inspire and lead the way forward.
Laksh Nathan is EVP and CIO of Paramount Global, one of the world’s leading producers of media and entertainment content. He manages and oversees all of Paramount’s application services and business technology liaisons, including corporate applications, commercial systems, client/ production services, and end user technology. With over 20 years of experience, Laksh has driven signi cant IT transformations leading to increased ef ciencies and productivity through cloud migration, AI adoption, and app rationalization.
Laksh and his team revolutionized collaboration at Paramount by implementing Slack, boosting productivity by 30% and earning the Unlocking Productivity Award. They developed the ‘Content for Change’ site using Acquia, increasing audience engagement by 25% and winning the Acquia Engage Awards. Their dedication to technology has driven signi cant organizational improvements. On the AI front, Laksh’s team manages 30 projects, including enabling Microsoft Co-Pilot for Web and developing business-focused AI solutions with Azure AI. All AI solutions are documented on the ‘AI for the Enterprise’ intranet site for easy access and awareness.
When everything works perfectly, no one seems to notice the IT teams responsible for the innovative technology and complex, secure systems required to support modern business and commerce...until now.
SALVATORE DIDONATO CTO
STG Logistics
Salvatore DiDonato, the EVP and CIO of STG Logistics, has established himself as a visionary leader in the logistics industry. With a career spanning various technology leadership roles, Salvatore joined STG Logistics in 2015, bringing valuable experience from sectors such as cold chain logistics, healthcare, big data analytics, and digital advertising. His strategic approach focuses on leveraging technology and organizational culture to drive operational excellence and create value across multiple organizations.
At the heart of my leadership philosophy is the passionate belief that people and business processes should be prioritized before technology investments. This approach enables organizations to innovate, evolve, and develop competitive advantages through strategic use of technology. I have found that fostering a culture of ongoing learning, transparency and adaptability is instrumental in guiding organizations through successful digital transformations and technological advancements.
KAREN HIGGINS-CARTER CIDO Gilbane Inc.
Karen HigginsCarter is executive vice president and chief information and digital of cer for Gilbane, Inc. where she leads innovation, technology, data, and cybersecurity strategy. With over 25 years of progressive experience in diverse industries, Karen has a proven record of leading transformation efforts, building highperforming teams, and delivering business solutions. Karen earned a dual degree in mechanical engineering and economics and business at Lafayette College. She maintains a Certi ed Information Security Systems Professional (CISSP) credential.
At Gilbane, I have leveraged my banking digitalization experience to drive change in the construction industry. Managing construction projects means dealing with complex data and risk, like banking but with distinct challenges. My role transcends technology implementation, focusing on understanding and overcoming obstacles to change. By engaging with eld teams, I gained crucial insights and stakeholder support. Our team has deployed new enterprisewide strategies to improve pro tability by increasing workforce utilization, supporting risk management through AI-enhanced contract management, and enhancing eld productivity with a generative AI tool that identi es con icts in project documentation, preventing change orders and improving schedule attainment.
GLOBAL FINALISTS (CONTINUED)
RACHANA KUMAR
CTO
Etsy
Rachana is Etsy’s Chief Technology Of cer, focused on leveraging technology to create economic empowerment opportunities for Etsy’s vibrant, global community. Over the course of her eight-year tenure, Rachana has played a leading role in critical initiatives, including launching Etsy's product development principles, driving mobile and app penetration, and buyer growth. Rachana's experience spans multiple countries and industries ranging from media and ecommerce in the US, the sociopolitical space in India, and international development in Cambodia.
Under Rachana’s leadership as CTO, Etsy has signi cantly expanded its use of AI to improve the search and discovery experience to help buyers easily navigate the more than 100 million items listed on the marketplace and connect with sellers around the world. This has included launching a new graph neural network retrieval system to improve relevance and implementing large language models across a number of complex solutions. Rachana has also guided the engineering team in leveraging generative AI to support innovative products like Etsy’s new Gift Mode experience, as the company continues it's journey to become the ultimate destination for gifting.
FRANCIS VERDIER
CTO
Neuberger Berman
Francis Verdier, Chief Technology Of cer at Neuberger Berman since 2019, previously served as the Chief Information Of cer at Apollo Global Management. Prior roles include leadership positions at JPMorgan, including Managing Director and Chief Information Of cer for the Private Bank. He also worked at HBOS Treasury Services and began his career at Ef x Reuters and Morgan Stanley. Verdier graduated with a Software Engineering degree from Ecole Supérieure d’Informatique, d’Electronique et d’Automatique in Paris, France in 1992.
As CTO of Neuberger Berman, I have led a transformative journey over the past four years. We have uni ed our technology groups under the Global Technology organization, fostering a culture of innovation and strategic vendor partnerships. We have modernized our digital experience for Private Wealth clients and advisors and implemented robust data governance, optimizing our technology investments. I am particularly proud of our commitment to diversity, re ected in our improved gender ratio and the successful launch of our Global Technology Apprenticeship Program. These initiatives have truly established Global Technology as an equal business partner within the rm.
ALLA WHITSTON CIO for the Americas MUFG Bank Ltd
Alla Whitston is the Chief Information Of cer for MUFG Americas, supporting core functions such as strategy, applications, infrastructure, enterprise architecture, cyber security, and IT risk management. She previously held leadership roles at Silicon Valley Bank, CIT Group, Bank of America, JP Morgan/Bear Stearns, and Goldman Sachs. Alla is engaged in women’s professional networks and an avid DEI champion. She received her master’s degree in computer science with Honors from Georgian Technical University in Tbilisi, Georgia.
Alla Whitston is a seasoned technology executive with a strong track record of spearheading innovation and strategic initiatives aligned to multi-year business objectives. Her leadership and vision enable MUFG to deliver critical initiatives while strengthening the technology backbone, supporting business growth goals of expansion and diversi cation, and ensuring safety and soundness through risk management. Her accomplishments – combined with her leadership style of leading by example and fostering a transparent and inclusive environment – enable the next generation of leaders. This underscores her commitment to continuous improvement and positions MUFG for sustained success.
LARGE ENTERPRISE FINALISTS Over
MICHAEL MAINIERO SVP & Chief Digital and Information Of cer Catholic Health
Michael Mainiero is a seasoned digital health leader with 25 years of experience driving transformation across startups, Fortune 100 companies, and healthcare systems. As Chief Digital and Information Of cer at Catholic Health, he leads digital strategy, cybersecurity, telehealth, and Epic EHR implementation across six hospitals. Previously, Michael spent 20 years at NYU Langone, spearheading digital innovation, and prior to that running digital startups in NYC. His expertise in leadership, UX, and agile methodologies has consistently elevated healthcare delivery and patient experiences.
In July 2024, when a global CrowdStrike outage brought down six hospitals and 200 practices at Catholic Health, Mike Mainiero faced a potentially catastrophic situation for patient care. Recognizing the severe risk, Mike swiftly led the response, assembling cross-functional teams and establishing a command center. His decisive actions ensured that surgeries and of ce visits were not canceled, and clinical operations continued seamlessly. Within hours, critical systems were restored, avoiding disruptions that could have severely impacted patient outcomes. Mike’s leadership turned a potential disaster into a demonstration of resilience and operational excellence, keeping patient care running throughout the crisis.
VIKRAM NAFDE
EVP & CIO
Webster Bank
Vikram Nafde is EVP and CIO at Webster Bank where he leads the vision, strategy, and execution of Webster’s technology including digital, engineering, data, agility, architecture, infrastructure, cybersecurity, and AI. Vikram is an active leader in the CIO communities including as Co-Chair of NYC CIO, and member of CNBC Tech and WSJ Tech Councils. Vikram also serves on the Board of UWCWCT. Vikram previously held technology leadership roles across companies including Bridgewater, GEAM, and Starwood.
At Webster Bank, I led the transformation of the bank’s technology operating model, establishing product aligned autonomous agile teams that paved the way for the technology integration work for the 2022 merger with Sterling National Bank that formed a $75B+ assets northeast powerhouse bank. I led the creation of an integrated technology stack for the combined bank and led my team on an end-to-end cloud and data modernization journey, setting up a modern IT infrastructure for AI-powered innovation. I am an engaged champion of colleagues’ development and have continued to focus on purpose-driven workplace, innovation, team building, and continuous learning.
ENTERPRISE FINALISTS
BRIZZI CDO
Crum & ForsterSurplus & Specialty
Bryan Brizzi is the Chief Digital Of cer at Crum & Forster’s Surplus and Specialty Division, spearheading digital transformation and IT innovation. With over 25 years of experience, Bryan excels in IT leadership, digital strategy, and business process management. He has a proven track record of driving technological advancements and operational ef ciencies in previous roles at AIG and CGI. Bryan is recognized for his exceptional management skills and ability to bridge the gap between business and technology.
Under our collective leadership, the IT department transformed business sentiment within a year, transitioning from widespread dissatisfaction to commendations at the annual Crum & Forster Surplus & Specialty Summit. We overhauled our digital infrastructure with key initiatives, including a comprehensive digital transformation and developing our North Star framework. We recruited additional talent, established processes like Architecture Review Boards (ARB), Permit-to-Build (PTB), and Permit-to-Operate (PTO), and revitalized our offshore development operations. By aligning our efforts with strategic business needs and fostering a high-performance culture, we addressed security and reliability concerns, improved delivery, and set a new standard for excellence and collaboration.
SURESH RENGANATHAN CTO
Teachers Federal Credit Union
Suresh Renganathan is a leader and Chief Technology Of cer at Teachers Federal Credit Union, recognized for spearheading enterprise-wide digital transformations that drive signi cant growth. With a track record of enhancing member experiences and operational ef ciency, Suresh has led initiatives that resulted in a 16% YoY growth and an 70+ Digital NPS score. His leadership has been instrumental in advancing AI-driven decisioning platforms and innovative payment systems, earning accolades such as ”Model Bank of the Year."
As CTO at Teachers Federal Credit Union, I lead a team of 100+, managing IT, digital banking, and data analytics. We modernized payment systems, launched the Genesys Cloud platform, saving 5 FTEs and 59 seconds per call, and introduced AI and RPA innovations, saving 5,800 hours monthly, equating to $2.5M annually. Our Gen AI tool improved member interaction turnaround by 33%, and our ML-driven credit decisioning system boosted approval rates by 20% and automated 80% of loan approvals. These initiatives drive growth, cost savings, and enhanced member experiences, aligning with our mission.
KIM CIO MultiPlan
Michael oversees the Company’s technology organization. He has nearly 20 years of experience leading large IT organizations including major insurance companies. Prior to senior leadership roles in Technology, Michael spent 12 years in consulting. Michael has a BA in Economics from Yale University.
SACCAL VP, Head of Information Technology Cambrex Corporation
Scott Saccal is Vice President, Head of Information Technology for Cambrex Corporation. He has more than 30 years’ experience in IT. Scott has held Information Technology roles at Merck Sharp & Dohme and Johnson & Johnson, including Vice President, Chief Information Of cer for J&J ALZA. Scott holds an MBA from Fairleigh Dickenson University and MS/BS degrees from NJIT. Scott and his wife Teri live in New Jersey. Scott enjoys sporting activities, DIY projects, and a sunny beach.
Michael has developed an enterprise class, scalable technology platform and has started the modernization of legacy technology systems to a more current, nimble microservice-based architecture. He has transitioned the company’s waterfall software development methodology to a Scrum based agile methodology and adopted DevSecOps practices to achieve continuous integration and deployment. Additionally, Michael has architected a hybrid, multi-cloud infrastructure that shifts more workloads to the cloud. Most recently Michael led MultiPlan’s adoption of generative AI into the software development and testing teams. These innovations and initiatives deliver business value to our customers and the industry at large.
I’m blessed to have had such amazing experiences throughout over 30 years in IT.
In this time, I have had tremendous mentors, business partners, and teammates that have helped me to grow and shape my thinking.
I’ve learned that learning itself is lifelong and that the humans are amazingly complex and dynamic. My success as a leader today is 100 percent a function of creating an environment in which every individual knows that they are valued and that I care about them achieving their purpose in life. I only hope to continue to help everyone to release their full potential.
HAL STERN VP, Head of Technology, Innovative Medicine R&D Johnson & Johnson
Hal Stern is the VP and Head of Technology for J&J Innovative Medicine R&D. He joined J&J from Merck & Company, where he led Merck Research Labs Engineering. Hal had a 25 year career in the technology industry, with a variety of software and services leadership positions. He is co-inventor on 11 patents and co-author of three technical books.
Adopting a product model across the complexity of a world class R&D organization, Hal and team created a common language, measurements and architectural patterns for more than 5,000 applications expressed in under 100 products. Improvements in lab cycle time, automated data capture and case processing, and scienti c computing despite an explosion in data cardinality and dimensionality helped propel J&J Innovative Medicine to the IDEA top ranking in pharmaceutical R&D invention in 2024.
Senior business leader, CIO and CTO with a demonstrated history of building company value through customer focused innovation. Possession of a proven background in virtually all areas within the advertising ecosystem that include technology strategy and nancial planning, Systems Analysis, Design and Development, and Implementation and Support. Internal and external client focused executive with the ability to drive results and create and deliver best practices through the use of several methodologies while consulting in the Big 4 arena. Leading Infrastructure with a strong cyber security and compliance background.
Our greatest accomplishment was the transformation to a work from home environment during the pandemic. My team had to react in record time to deploy a single collaboration tool to enable virtual meetings and conference calls. We were just starting our journey with Of ce365 after a year long consolidation of of ce environments and we had to pivot to deploy Teams in record time of 6 days. We also had to distribute over 350 laptops to employees that were working on desktops across 58 of ce locations. The transformation of the infrastructure and back of ce here at OUTFRONT has been nothing short of miraculous.
MICHAEL
SCOTT
LOWELL SIMPSON CIO Outfront
BRYAN
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CORPORATE FINALISTS Up to $750 million annual revenue
ROBERT FIELD CIO Adler Advisors
A seasoned CIO with extensive experience across diverse industries, I specialize in driving digital transformation, optimizing IT, and fostering innovation. I am a people person, a connector, passionate about creating exceptional customer experiences. By integrating cutting-edge technologies like AI and Cybersecurity, I enhance business outcomes. With a focus on collaboration, transparency, and team empowerment, I have successfully led initiatives that increased pro tability, streamlined operations, and opened new revenue streams, positioning organizations for sustained growth & success.
As CIO of Adler Advisors, I’ve led transformative IT initiatives that drive pro tability and innovation. By integrating AI for operational ef ciency and developing a robust cybersecurity framework, we’ve achieved signi cant cost savings and enhanced client trust. I’m passionate about creating exceptional customer experiences and fostering a collaborative, growth-oriented culture. These efforts have resulted in new revenue streams and increased organizational agility, positioning Adler Advisors for sustained success. My people-centric approach and commitment to leveraging technology have solidi ed our reputation as a trusted advisor in the industry.
PRASAD SURAPANENI CIO
United Nations Federal Credit Union
Prasad Surapaneni is the Chief Information Of cer at the United Nations Federal Credit Union (UNFCU), which has over USD 9 billion in assets and is headquartered in New York with representative of ces in Austria, Switzerland, Kenya, Italy, and Uganda. He has been leading the technology teams at UNFCU for the past nineteen years. Prasad holds degrees in Chemical Engineering and Computer Applications. He is an avid aviation enthusiast and holds a private pilot certi cate.
I have led the technology arm of the organization for 19 years with the motto “Enable UNFCU Strategy While Having Fun Doing IT.” The success of the IT organization and the broader organization is due to the high-performing team I built. I am proud of having the most engaged workforce, with a turnover rate of less than 3%. We replaced legacy systems with digital- rst architecture, achieving a 95% self-service interaction rate and 99.9% uptime. We built a custom crossborder payment platform, remitting over $2.5 billion annually with 100% accuracy. UNFCU IT team is trusted as a value-generating innovative partner.
PETER GILHOOLY CIO
St. Mary’s Healthcare, Amsterdam
Peter has more than 20 years of senior level leadership including CIO experience through multiple technical, business, and health care positions, which have allowed him to become a seasoned, tech savvy IS leader with a focus in the medical eld. Previously, he served in executive level healthcare technology positions at MVP Healthcare, Albany Medical Center, Champlain Valley Medical Center, and most recently Glens Falls Hospital. A graduate of Fordham University, Peter built on his education with experience and excels in building high performance teams, strategic planning, project management, and implementing best practice methodologies and improvement programs.
SHEETAL GUPTA CIO
Patterson Belknap Webb & Tyler
Accomplished technology executive with over 30 years of experience in corporate IT and consulting, with a focus on successfully building and leading IT organizations. Currently I serve as Chief Information Of cer at Patterson Belknap Webb and Tyler, leading and directing information technology and records functions of the Firm. I lead IT vision, strategy, and execution, including but not limited to transformation programs for the future of Work for the Firm.
My most signi cant achievement as the PBWT CIO has been successfully delivering a seamless and effective multi-year digital transformation for the Firm. As a part of the program, we have revamped the employee experience by implementing a modern, high-performing, and reliable computing environment. This comprehensive overhaul included the deployment of modern platforms, which have facilitated smoother interactions both internally and externally. In addition to these innovations, we have been focusing on streamlining and automating our business processes by utilizing data pipelines. These initiatives have collectively transformed our operational ef ciency, enabling the Firm to adapt to the evolving digital landscape.
MICHAEL PALLADINO
Chief Information & Technology Of cer YMCA of Greater New York
As CITO, Michael Palladino provides vision, leadership and support for development and implementation of technology initiatives for the YMCA, leveraging his 15 years of progressive experience. Prior to his current position, he was Head of Technology at Prepaid Ventures LTD, responsible for driving the transformation of a startup marketing company with 8 employees to an 80-plus employee, wellrecognized, multimillion dollar PCI Level 1 Fintech company, while spearheading the development of multiple mobile and web applications.
Michael Palladino led the transformation of Prepaid Ventures LTD, growing it from a small startup to a multimillion-dollar leader in the Fintech space. He implemented key innovations, including an in-house call center, customer service portal, and agent portal used at 2,000+ locations. His work in developing mobile and web applications and achieving PCI Level 1 status secured the company’s place on the Inc. 5000 list and earned him multiple industry accolades. Including being recognized as one of the fastest-growing payment companies. Showcasing his ability to turn vision into reality and drive sustained growth.
WENDELL
THOMAS
VP, Information Systems & Technology Smile Train
Wendell is an innovative, strategic leader with an IT optimization and cybersecurity background. He joined Smile Train in 2022 and currently serves as VP of IS&T, spearheading global technology strategy aligned with business goals. Previously, he served as VP of IT at Safe Horizon, where his team was recognized as the #1 best-managed non-pro t in technology after implementing comprehensive data and cybersecurity programs. Wendell holds advanced degrees in Cybersecurity and Business.
Under my leadership, our team successfully implemented a data governance strategy, established a data governance committee, and conducted vendor-led workshops. This initiative enhanced our data privacy and protection processes, resulting in a 15% increase in ef ciency and a 20% reduction in report generation time, leading to a 15% cost saving in reporting. By creating a single source of truth, we improved data management, which has been instrumental in informing decision-making and driving our strategic outcomes.
“Great CIOs know technology moves fast, and connected leaders move faster, which makes the
CHAIR
ANDREA MARKSTROM
Schulte Roth & Zabel LLP
PROGRAMS CHAIR
NICOLÁS AVILA
ADVISORY BOARD OFFICERS
VICE CHAIR
MEMBERSHIP CHAIR
PROGRAMS CO-CHAIR
Diana Acevedo, Shiseido Americas Corporation
Sharad Agrawal, EF Hutton
Greg Bellotti, Kean University
Dave Blankenship, Subway
Dan Bosman, TD Securities
John Bresney, Selective Insurance
Douwe Busschops, Veolia
William Cassidy, New York Life Insurance (fmr)
Chris Colla, B&G Foods
Ryan Crosby, ICON International Inc.
Craig Cuyar, Omnicom Group
Nick Daffan, Verisk Analytics
Rama Donepudi, Reckitt
Philip Dundas, PGIM Fixed Income (fmr)
MEMBERSHIP
AWARDS CHAIR
ADVISORY BOARD MEMBERS
NEWYORKCIO MEMBERS
Sastry Durvasula, TIAA
Mark Eimer, Hackensack Meridian Health
Ken Finnerty, UPS
Assunta Gaglione-Austin, Fortress Investment Group
Reju George, HARMAN International
Mike Gioja, Paychex, Inc.
Jon Harding, Conair LLC
Jody Harper, Lincoln Center for the Performing Arts
Dave Harris, Cooper's Hawk Winery and Restaurants
Karen Higgins-Carter, Gilbane
Daren Hubbard, Princeton University
Raj Jodhpurkar, InfoCepts LLC
Vijay Kasarabada, Nuveen
Prachi Kasodhan, Microsoft
Brent Lanier, Vista Equity Partners (fmr)
Fariba Marvasti, Aetna, Inc.
Mila Milagros Talabucon, Pernod-Ricard
Vikram Nafde, Webster Bank
Ajit Naidu, TIAA
Lakshman Nathan, Paramount
Andy Rhodes, Ultimate Medical Academy
Michael Ruttledge, Citizens Financial Group
Michael Smith, The Estee Lauder Companies
Ratna Subrahmanyam, MetLife
Manoj Thopcherneni, Cox Automotive
Alan Yang, MSC Industrial Supply
SUVAJIT BASU Goya Foods Inc (fmr)
GARY SORRENTINO Zoom Video Communications
SCOTT SACCAL Cambrex Corporation
CO-CHAIR
ROBERT FIELD Adler Advisors
PETER SCAVUZZO Marcum LLPl
LOOKMAN FAZAL NJ Transit
SHANE BRAUNER Schrodinger
GLOBANT
SHANNON BRITTON Stryker
JASON GALVIN Travelers
CARMINE LIZZA Lazard
STEW GIBSON USI Insurance Services
FOUNDING CHAIR
SOPHY LU Northwell Health
VIKRAM NAIR Amneal
BRIAN NEUHAUS B&H Photo
KAARTHICK SUBRAMANIAN Atlas Systems
FRANCIS VERDIER Neuberger Berman
CISO GLOBAL FINALISTS
ANDRE ELDER CISO & Global Principal ZS Associates
André is an experienced seniorlevel security executive and Chief Information Security Of cer with extensive expertise working in the medical device industry. He leads the information security function for ZS Associates’ overall corporate information security strategy, security infrastructure, governance, risk management, and compliance. André also leads the establishment of the product security strategy to support ZS’ scaling software offerings, the customer security program and evolving enterprise customer needs.
BRIAN LUTERAN VP, IT Security and Risk Management Bausch + Lomb
Brian is a respected IT executive with over 18 years of experience in cybersecurity. He has a proven track record of building cybersecurity programs from the ground up and maturing established ones. Brian excels in driving cross-functional projects, reducing costs, enhancing product and manufacturing security, and ensuring compliance. Known for his innovative solutions and leadership in complex environments, he is also a skilled leader and relationship builder with strong communication abilities with executives and clients.
Under my leadership, our team has signi cantly enhanced the company’s cybersecurity posture through three major initiatives. First, we developed a strong foundation through the adoption of the NIST Cybersecurity Framework, identifying and remediating critical gaps, normalizing our budget, and achieving savings through vendor consolidation. Second, we established an AI security practice based on industry best practices, balancing security with business agility. Lastly, we uplifted our Identity and Access Management (IAM) program by implementing identity governance, enhancing privileged account management, and enforcing multifactor authentication.
GEORGE MOSER CISO S&P Global
George Moser is Chief Information Security Of cer for S&P Global. In the CISO role, George is responsible for implementing a risk resiliency strategy and for securing S&P’s digital ecosystem. Previously George was Global Head of Operations for Visa. Prior to Visa, George was Chief Infrastructure Architect at BNY Mellon. George holds an MBA from Saint Joseph’s University and a BS in Computer Science from the University of Delaware.
Our S&P Global Information Security organization lowered cyber risk exposure through a program that focuses on improvement in the maturity of cyber capabilities. Key to this is an understanding of
Michael is the Chief Information Security Of cer for Hearst, a leading diversi ed media, information, and services company with over $12 billion in annual revenue. Hearst has been innovating for more than a century, leading with purpose, integrity, and a culture of care, with a mission to inform audiences and improve lives. Hearst’s portfolio of more than 360 companies across 40 countries spans cable television networks such as A&E, HISTORY, Lifetime and ESPN; global nancial services leader Fitch Group; and Hearst Health, a group of medical information and services businesses.
I’m very proud of the work our team has done to successfully implement a transformation program that aligns security strategy and business objectives across Hearst's diverse portfolio. We’ve created a culture of security
MICHAEL PALMER CISO
Hearst
NEIL BOLAND CISO
Major League Baseball
Neil Boland, Senior Vice President of Technology and Chief Information Security
Of cer at MLB, leads comprehensive leaguewide programs in technology, infrastructure, and cybersecurity. He has driven innovation while advancing security and compliance across MLB’s core businesses and 30 clubs. Before MLB, Neil was Managing Partner at E2 and held senior roles at startups and a consulting rm. He also serves on advisory boards for Okta, Palo Alto Networks, and Zoom.
Neil Boland, Senior Vice President of Technology and Chief Information Security
Of cer at MLB, leads comprehensive leaguewide programs in technology, infrastructure, and cybersecurity. He has driven innovation while advancing security and compliance across MLB’s core businesses and 30 clubs. Before MLB, Neil was Managing Partner at E2 and held senior roles at startups and a consulting rm. He also serves on advisory boards for Okta, Palo Alto Networks, and Zoom.
CISO
USI Insurance Services, LLC
As a trusted CISO, I excel in executing IT strategies and complex cybersecurity initiatives for large, heavily regulated organizations. I align security with business objectives, innovate solutions to improve operational ef ciencies, and ensure regulatory compliance. My leadership focuses on providing strategic guidance, personal accountability, and operational support to achieve project success. At USI Insurance Services, I built a comprehensive cybersecurity program, adapting to the company’s growth from 80 to 190 of ces and 11,200 team members.
As CISO at USI since 2014, I’ve led the development of a resilient cybersecurity program that has adapted to signi cant company growth and the challenges of a hybrid work environment. I’ve built a team of ten professionals operating on a modest annual budget. Our approach emphasizes education, collaboration, and innovation. We’ve improved the SDLC process, implemented rigorous vendor risk management, and introduced UEBA and insider threat programs. By transitioning from only web-based to personalized inperson training, we’ve signi cantly enhanced staff engagement and security awareness. My leadership style fosters a dynamic, knowledgeable team capable of meeting USI’s evolving cybersecurity needs.
JESSE FASOLO Head of Technology Infrastuctre
& Cybersecurity, ISO St.
Joseph’s
Health
A dedicated technology executive with over two decades of experience in information technology management, focused on driving transformative change and service excellence. Blending transformational and servant leadership styles to enhance employee engagement, build strong relationships, and improve organizational performance. Proven successes in leadership and digital transformations have led to strategic advancements, cost savings, and ef ciencies. Responsible for aligning technology strategy with strategic goals, implementing technology, and ensuring data and systems are security.
Our organization has made signi cant strides in cybersecurity. We have developed a robust strategy to mitigate risks and vulnerabilities, implemented comprehensive security awareness programs to educate employees about cyber threats, established incident response plans for swift responses, and deployed advanced threat detection tools. Compliance with regulatory standards has built trust with stakeholders. Collaborating internally and externally fostered a uni ed approach to cybersecurity. Innovative cybersecurity solutions addressed emerging threats. Continuous improvements based on data-driven insights through measuring security metrics and KPIs. These accomplishments strengthen defenses, protect sensitive data, ensure business continuity, and enhance our reputation in the digital landscape.
JOHN FRUSHOUR
VP & CISO
NewYorkPresbyterian Hospital
John is currently the Vice President of InfoSec and CISO at NYP. Previously, John was the Deputy CISO at Nuance Communications. Prior to this position, John was the Corporate Director for Enterprise Architecture at Motorola Solutions. John is a retired Marine Of cer, combat Veteran, and ”Mustang”. John has degrees in Computer Science from the University of Kentucky (BS) and Naval Postgraduate School (MS), as well as expert level certi cations from Cisco, vmWare and ISC2.
Leveraging aggregated digital identity sources, and correlating them with rich AAA information in multiple Electronic Health Record systems, NYP created the rst home grown privacy and narcotic diversion analytics platforms in the US. Designed, built, and deployed a remote access system to take back ownership of one of the highest risk exploit pathways in healthcare - now a standard by which commercial products strive towards. Built the NYP security team from 3 to 49, an organic award winning Security Operations Center, award winning Engineering Team, and a framework
Khalil Jackson is a distinguished Technology Executive with over 25 years of experience. As the Chief Information Security Of cer at the Federal Reserve Bank of New York, he has led initiatives safeguarding trillions in assets and enhancing global nancial stability. Khalil’s career includes leadership roles across nancial services, where he drove transformative cybersecurity and risk management strategies. A published author and mentor, Khalil is committed to diversity, equity, inclusion, and shaping the future of cybersecurity.
With a passion for science and the arts, I embarked on a self-directed educational journey due to nancial constraints. Through unwavering determination, I published two research papers by the time I completed graduate school. Over my career, I’ve led initiatives that have safeguarded billions in assets, enhancing global nancial stability. My mentorship has empowered numerous professionals to ascend to leadership roles. Recognized for strategic vision and innovation, my commitment to driving industry-wide change and fostering talent has positioned me as a leader in global technology and security, in uencing policies that shape the future of cybersecurity and privacy.
The ORBIE Awards is a premier technology executive recognition program in the United States. Since inception in 1998, over 500
winners have received the prestigious ORBIE Award.
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MEDIA SPONSOR
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Michael Israel
President and chief executive officer, Westchester Medical Center Health Network
Scope of work: Michael Israel has served since 2005 as president and chief executive officer of Westchester Medical Center and the Westchester Medical Center Health Network, the 1,700-bed regional medical system serving New York’s Hudson Valley and beyond.
Biggest career win: Under Israel’s leadership, WMCHealth has transformed into a multi-hospital regional health care network with a $896 million economic impact. Notable achievements in the past five years include his oversight of the $230 million construction of the Ambulatory Care Pavilion at Westchester Medical Center, the largest health care construction project in the region at the time.
Other contributions: Projects Israel has worked on have significantly enhanced health care delivery in local communities.
Nicole Jordan-Martin
Executive director and chief executive officer, NYC Health + Hospitals/Community Care
Scope of work: Nicole Jordan-Martin serves as executive director and chief executive officer at NYC Health + Hospitals/Community Care. She directs strategic initiatives focused on growth, business development, clinical integration and service line expansion.
Biggest career win: Jordan-Martin led public health transformations nationally and internationally, including expansion of HIV prevention care, treatment and support systems. She led the implementation of Medicaid Health Home, the Delivery System Reform Incentive Payment and NYC Test & Trace Take Care Hotel programs.
Other contributions: Jordan-Martin is a dedicated advocate for health equity, focused on improving both community health and the health care industry.
Donald T. Morrish, MD, MMM, became CEO of Episcopal Health Services in 2024 after serving as executive vice president and chief medical officer since 2018. He now leads a health system on the Rockaway Peninsula in Queens, N.Y., that provides urgently needed emergency and ambulatory care to the underserved but densely populated Rockaway and Five Towns communities.
Episcopal Health Services, dedicated to serving people of all faiths, is known for its mission of delivering high-quality, patient-centric care. At the heart of the system is St. John’s Episcopal Hospital, where Dr. Morrish has driven a strategic agenda focused on innovative healthcare, with enhanced quality, patient safety, and satisfaction measures. The hospital has earned awards like the Gold-Plus Get with the Guidelines®Stroke Quality Achievement and Heart Failure Quality Achievement Awards from the American Heart Association.
Episcopal Health Services is also shaping New York City’s healthcare future, training over 180 residents across 10 state-accredited graduate medical programs. Dr. Morrish joined the system in 2013 as Chairman of the Department of Obstetrics and Gynecology. Crain’s Content Studio recently spoke with Dr. Morrish about his vision and priorities.
Ryan Kelly
Chief technology officer, Capital Rx
Scope of work: Ryan Kelly is a co-founder of Capital Rx, a full-service pharmacy benefit manager and pharmacy benefit administrator. He has served as its chief technology officer since 2018, leading the company’s software development, engineering, product and IT teams.
Biggest career win: Building JUDI, a platform that is one of Capital Rx’s main differentiators in the industry, has been a massive undertaking, which Kelly led from the start. He continues to oversee all updates and new features.
Other contributions: Capital Rx partnered with the New York City Football Club. As part of this partnership, Capital Rx joins the club in volunteer events around New York City, including a community pitch cleanup day in Flushing Meadows Corona Park.
April Koh
Chief executive officer, Spring Health
Scope of work: In 2016 April Koh founded Spring Health, a mental health solution for employers and health plans, where she now serves as chief executive officer. In 2022 she became the youngest female chief executive officer of a unicorn, with Spring Health now valued at $3.3 billion.
Biggest career win: Koh successfully implemented Spring Health’s proprietary, clinically validated Precision Mental Healthcare, which uses artificial intelligence and machine learning to create personalized treatment plans. The company reported that 70% of members showed symptom improvement within the first 14 days of engaging with the platform.
Other contributions: Koh has served on the board of directors for the Psychiatry Innovation Lab since 2016, contributing to innovation in the field.
Sean Lally
Executive vice president and chief strategy officer, St. Mary’s Healthcare System for Children
Scope of work: As executive vice president and chief strategy officer for St. Mary’s Healthcare System for Children, Sean Lally oversees operations management and is responsible for leading the organization’s strategic planning initiatives, managing and implementing fundraising programs and overseeing external relations activities.
Biggest career win: Under Lally’s leadership, St. Mary’s created its first ever telehealth and remote patient monitoring services program during the peak of the Covid-19 pandemic. The program, launched entirely through philanthropic support, capitalized on the talents of leaders across the health care system.
Other contributions: Lally has been a key leader in the founding of St. Mary’s mentoring program, volunteering his time to mentor other staff.
Sponsored Content
NOTABLE SPOTLIGHT with Donald
T. Morrish
A visionary takes the helm of a hospital system bringing top-quality healthcare to an underserved population
As the new CEO of Episcopal Health Services, what is your vision for the health system’s future, and how will you drive continued innovation in healthcare delivery?
My vision for Episcopal Health Services is to be the community’s top choice for high-quality, patient-centered care. We are focused on improving access, patient safety, experience, team engagement, and promoting diversity, equity, and inclusion. Through strategic investments, expanded services, and enhanced care in the Rockaways, we aim to ensure equitable access and exceptional patient experiences, driving innovation and solidifying our leadership in healthcare delivery.
Recognized for excellence in residency education in obstetrics and gynecology, how do you balance leadership with your passion for teaching, and what key lessons do you hope to impart to future healthcare professionals?
Balancing leadership with my passion for education involves fostering a learning culture within our health system. As CEO, I prioritize professional growth and innovation, leading by example and emphasizing patient-centered care, teamwork, and adaptability. I aim to impart values of compassion, collaboration, and lifelong learning
to future healthcare professionals— essentials for advancing healthcare and improving patient outcomes.
How has your background in obstetrics and gynecology shaped your approach to leadership in healthcare management?
My background has shaped my leadership with a deep commitment to patient-centered care. In obstetrics, each decision affects both mother and child, reinforcing the importance of precision, patient safety, and compassion. These principles guide my focus on quality care, fostering collaboration, and driving innovation. Applying clinical insights to healthcare management, I aim to enhance patient outcomes, improve care access, and support our team’s growth.
How do you see research and academic contributions shaping the future of healthcare, given your experience as an author and contributor?
Research and academic contributions are essential for shaping community healthcare by informing evidencedbased practices that improve patient outcomes. They help identify local health disparities and guide targeted interventions, fostering equity in care. Additionally, research enhances the
training of community health workers and promotes collaboration. By raising public awareness and encouraging community engagement, academic findings empower individuals to make informed healthcare decisions, ultimately strengthening the overall health of the community.
What are the key priorities for Episcopal Health Services in the coming years, and how do you plan to address the evolving needs of the communities you serve?
At Episcopal Health Services, our key priorities are to enhance the patient, family and team member experience, improve financial performance, invest in key service lines, and improve community health outcomes. We will address the evolving needs of our communities by ensuring access to high-quality, patientcentered care, and expanding services where they are needed. Additionally, we will continue our community outreach efforts, promoting health education, and providing resources that support well-being. Through these efforts, we aim to improve the overall health within our communities.
Haibo Lin
Director of medical physics, New York Proton Center
Scope of work: As director of medical physics at New York Proton Center, the rst proton radiation therapy cancer center in New York State, Haibo Lin works with physicians to create treatment plans for patients that optimize radiation doses to tumors while protecting surrounding tissues and organs.
Biggest career win: Lin brought cutting-edge proton therapy to a new state and region and successfully treated more than 5,000 patients since the center opened in 2019. His ongoing physics research continues to advance cancer treatment.
Highlights include novel studies of FLASH proton therapy.
Other contributions: Lin has advised and consulted on the opening of more than 10 proton centers around the world.
Svetlana Lipyanskaya
Chief executive of cer, NYC Health + Hospitals/South Brooklyn Health
Scope of work: Svetlana Lipyanskaya is the chief executive of cer of NYC Health + Hospitals/ South Brooklyn Health, a position she has held since January 2020. In this role, she oversees the strategic direction and operations of a 351-bed facility that serves a catchment area of approximately one million New Yorkers.
Biggest career accomplishment: Lipyanskaya steered the organization through the Covid-19 pandemic and oversaw the facility’s response and recovery, including opening a new 11-story inpatient hospital. She spearheaded the creation of life-saving services, including a cardiac catheterization lab, percutaneous coronary intervention and a neurointerventional program.
Other contributions: Lipyanskaya is a board member of the Healthcare Association of New York State.
Darrell Martin
Founder, Artists Reimagining Therapy & Systems
Scope of work: Darrell Martin is founder of Artists Reimagining Therapy & Systems. He developed the program, which has been offering free services to individual artists and arts workers with one-on one-counseling and support group therapy. It is also sponsoring coaching and consultations for New York City’s artist administrators on how to support artists.
Biggest career win: Martin provides mental health and wellness counseling for artists and arts workers free of charge during their initial engagement, for up to one year.
Other contributions: Martin is committed to addressing and offsetting years of marginalization and structural inequities faced by BIPOC and LGBTQ+ artists and arts workers, improving mental health care and wellness access for all of New York City’s artists.
Lauren Mendenhall
Executive director, La Casa de Salud
Scope of work: As executive director of La Casa de Salud, the primary care arm of Acacia Network, Lauren Mendenhall manages operations, a $23 million budget and a 180-person staff. She supports the strategic and operational goals of the organization’s mission of providing high quality, cost-effective care.
Biggest career win: Mendenhall helped secure nearly $3 million from the Health Resources and Services Administration to develop a pilot to address the mental health crisis among health care workers in the wake of Covid-19. Together with Acacia Network, she built a consortium of partners to serve more than 2,000 health care workers.
Other contributions: Mendenhall presents the methodology and results of La Casa de Salud’s HRSA-funded pilot at conferences.
Boris Molchanskiy
Vice president and chief nursing of cer, Maimonides
Midwood Community Hospital
Scope of work: Boris Molchanskiy is vice president and chief nursing of cer at Maimonides Midwood Community Hospital in Brooklyn, New York. His mission is to bring better health care to Brooklyn by improving community access to health care, improving education for frontline staff and leveraging technology.
Biggest career win: Molchanskiy improved access to care by reducing wait times at the emergency room.
Other contributions: Molchanskiy has been on the faculty of numerous colleges and learning institutions such as Long Island University, the College of Staten Island and St. Paul’s School of Nursing. He is an active member in the Epsilon Mu chapter of Wagner College and the American Association of Critical Care Nurses.
Susan Fox
Regional Senior Vice President for the Hudson Valley, President & CEO, White Plains Hospital
Montefiore Einstein congratulates Susan Fox
For being honored in Crain’s New York 2024 Notable Health Care Leaders and in recognition of her leadership, in uence and dedication to the community.
Donald T. Morrish
Chief executive officer, Episcopal Health Services
Scope of work: As a physician and chief executive officer at Episcopal Health Services, Donald T. Morrish ensures the health system fulfills its mission of providing patient-centered emergency and ambulatory care to the densely populated, culturally and economically diverse and medically underserved Rockaways and Five Towns populations. The system provides people with treatment and services regardless of ability to pay.
Biggest career win: Morrish has led teams that have improved quality, patient safety and satisfaction measures for the health system. He has also worked to implement, integrate and onboard new hospitalist, emergency medicine and anesthesia service.
Other contributions: Morrish has received recognition from the Association of Professors of Gynecology and Obstetrics national faculty.
Alan J. Murray
President and chief executive officer, MediDrive
Scope of work: Alan J. Murray is president, chief executive officer and co-founder of MediDrive, a technology and service-based company focused on non-emergency medical transportation. He oversees all aspects of MediDrive, including sales, customer relations, operations, planning, finance, network development, governance, government relations and community relations.
Biggest career win: Murray focuses on championing affordable health care, partnering with payers and providers to address social determinants of health. He previously served as president of Empire BlueCross BlueShield.
Other contributions: An advocate for diversity, equity and inclusion and committed to improving youth mental health, Murray is an advisory council member with American Corporate Partners and a board member of STOMP Out Bullying.
Melissa O’Brien
Medical director of psychiatric services, Project Renewal
Scope of work: Melissa O’Brien, a psychiatric nurse practitioner, is medical director of psychiatric services at the nonprofit Project Renewal, which works to end the cycle of homelessness. Overseeing a team of 20, she manages workflows and develops policies and procedures across housing, shelter, health and substance use programs.
Biggest career win: During the Covid-19 pandemic, O’Brien was integral to the implementation of telehealth psychiatry services, leading efforts to establish telehealth use across shelters, residences, mobile medical vans and primary care clinics. The American Psychiatric Association awarded her and her colleagues the Distinguished Service Award for this work.
Other contributions: O’Brien initiated meetings uniting different departments to discuss clients in need of acute care.
NOTE WORTHY
$14,423
Philip Ozuah
President and chief executive officer, Montefiore Medicine
Scope of work: Philip Ozuah is president and chief executive officer of the academic health system and research institution Montefiore Medicine. He has expanded access to care for underserved communities, recruited and cultivated outstanding talent and improved financial and operational performance by integrating care across an evolving system.
Biggest career win: Under his leadership, Montefiore Medicine recently secured a $1 billion gift to ensure that Albert Einstein College of Medicine will always be tuition free. This achievement is at the center of Ozuah’s vision of health equity and economic opportunity.
Other contributions: Ozuah chairs the Greater New York Hospital Association and is chairman of the board of trustees for the New York City Police Foundation.
Keith Patterson
Executive vice president and chief financial officer, VNS Health
Scope of work: As executive vice president and chief financial officer of VNS Health, Keith Patterson provides financial management for the $3 billion nonprofit, which employs 10,000 people and includes six provider-services business lines, five health plans and a corporate shared services division. He also oversees the finance, audit and investment board committees.
Biggest career win: Under Patterson’s leadership, in 2024 VNS Health acquired four upstate managed long-term care plans that otherwise would have closed, providing an essential safety net for New Yorkers statewide and ensuring continuity of care was preserved for those health plan members. Other contributions: Patterson has worked to orchestrate career development and internship programs.
Estimated health care spending per person in the U.S. in 2023 was approximately $14,423. (Reuters)
Caroline Pearson
Executive director, Peterson Center on Healthcare
Scope of work: Caroline Pearson is executive director of Peterson Center on Healthcare, where she leads initiatives and grantmaking to fulfill its mission to create a high performing health system that delivers better care at lower cost. She designed and built the Peterson Health Technology Institute to accelerate the adoption of high-value technologies.
Biggest career win: PTHI made a splash in the digital health world under Pearson’s leadership through its groundbreaking reports and by bringing together stakeholders to advance digital health evidence standards.
Other contributions: Pearson sits on the board of directors for a nonprofit, provider-sponsored health plan in Ohio. She is also an elected member of the National Academy of Social Insurance.
Nathan Price
Chief scientific officer, Thorne
Scope of work: As the chief scientific officer of Thorne, Nathan Price is driving forward a disruptive new era in the health and preventive medicine industry. Leading the health intelligence aspect of the business, he is dedicated to making the next frontier in health care about prevention instead of treatment.
Biggest career win: In 2023, Price was the recipient of the Health 2.0 Outstanding Leadership Award and published “The Age of Scientific Wellness” with co-author Lee Hood.
Other contributions: Price is co-director of the Center for Human Healthspan at the Buck Institute for Research on Aging. He has directly mentored 53 trainees from highly diverse socioeconomic backgrounds. These trainees are now faculty members at the Mayo Clinic and elsewhere.
Jeffrey
Reynolds
President and chief executive officer, Family & Children’s Association
Scope of work: Jeffrey Reynolds is president and chief executive officer at Family & Children’s Association, which works to protect and strengthen Long Island’s vulnerable children, seniors and families. Reynolds is dedicated to helping these individuals cope with poverty, mental health issues, educational barriers, substance use and more. Biggest career win: FCA recently launched two recovery centers, allowing the organization to serve more people across Nassau and Suffolk counties. It also recently won a grant to provide integrated care and employ a more modern approach to services.
Other contributions: As a spokesperson for nonprofits across Long Island, Reynolds lends his voice to conversations on issues including gaming, cannabis, opioid use and human trafficking.
Wayne J. Riley
President, SUNY Downstate Health Sciences University
Scope of work: Wayne J. Riley, a physician, has served as the president of SUNY Downstate Health Sciences University for more than seven years. In this capacity, he oversees an operation of nearly 4,000 employees, spanning both the academic and health care enterprises, including University Hospital at Downstate and Downstate Health.
Biggest career win: In 2019, Riley spearheaded the transition of SUNY Downstate Medical Center to SUNY Downstate Health Sciences University, elevating its educational, research and clinical missions. This move broadened academic offerings and strengthened the research enterprise.
Other contributions: Riley is chair of the board of trustees of the New York Academy of Medicine and a commissioner for the U.S. Medicare Payment Advisory Commission.
Michael Rosenblut
President and chief executive officer, Parker Jewish Institute for Health Care and Rehabilitation
Scope of work: Michael Rosenblut serves as president and chief executive officer of Parker Jewish Institute for Health Care and Rehabilitation, where he is responsible for the overall executive leadership and strategic direction of the postacute care organization, one of the largest in the region.
Biggest career win: Rosenblut built Parker’s family call center which has handled 40,000 calls since January 2020, providing patients, residents and families with centralized customer-support representatives to facilitate non-emergency communications and requests.
Other contributions: Rosenblut is a member of the board of directors at Westchester Medical Center and Good Samaritan Hospital. He is also chair-elect of the Association of Jewish Aging Services.
Tina Sadarangani
Assistant professor, New York University Rory Meyers College of Nursing and Grossman School of Medicine
Scope of work: Tina Sadarangani is an assistant professor at New York University Rory Meyers College of Nursing and Grossman School of Medicine. A board-certified adult and geriatric nurse practitioner with nearly 15 years in the field, her research portfolio focuses on improving care for people with dementia and their families.
Biggest career win: With support from the National Institutes of Health, Sadarangani created a mobile application that helps families caring for chronically ill loved ones communicate around day-to-day care.
Other contributions: Sadarangani is a board member of the Child and Adult Care Food Program Roundtable, an organization that addresses food insecurity for children and older adults.
Debbie Salas-Lopez
Senior vice president of community wellness and population health, Northwell Health
Scope of work: Debbie Salas-Lopez, a physician, is senior vice president of community wellness and population health at Northwell Health. She oversees community and population health strategy, including health management, risk-based arrangements, corporate social responsibility and the community health needs assessment across all markets.
Biggest career win: Salas-Lopez supported the development of the Northwell School of Health Sciences. She also expanded Northwell’s Health Equity Taskforce, which is composed of faith- and community-based, government and tribal leaders spanning Northwell’s entire service area.
Other contributions: Salas-Lopez is a fellow of the American College of Physicians.
Dan Savitt
Chief executive officer and president, VNS Health
Scope of work: As chief executive officer and president of VNS Health, Dan Savitt runs one of the largest nonprofit provider/ payer home- and community-based health care organizations in the country. The $3 billion organization and its 10,000 team members serve more than 51,000 patients, health plan members and clients.
Biggest career win: Savitt transformed VNS Health into a statewide organization, with its health plans — designed for individuals facing health and economic challenges — available in 37 New York counties. He also drove integration of the organization’s medical and behavioral health services and expanded its behavioral health programs.
Other contributions: Savitt fights to increase accessibility for home- and community-based health care, particularly in underserved neighborhoods.
NOTE WORTHY
930,000
Kevin
J. Tracey
Talya Schwartz
President and chief executive officer, MetroPlusHealth
Scope of work: Talya Schwartz, a medical doctor, serves as president and chief executive officer of the health insurance provider MetroPlusHealth. She drives strategic initiatives that modernize operations, improve care quality and address social determinants of health for New York’s most vulnerable communities.
Biggest career win: Schwartz spearheaded MetroPlusHealth’s initiative to bring behavioral health services in-house, underscoring the plan’s commitment to make behavioral health accessible to all. This effort resulted in faster outpatient follow-up care for individuals with substance use disorders.
Other contributions: Schwartz is committed to shaping health care policies and practices at organizational, local and national levels. She is on the New York Health Plan Association and the Health Plan Alliance boards.
Jonathan Teyan
President and chief executive officer, Associated Medical Schools of New York and New York State Academic Dental Centers
Scope of work: Jonathan Teyan oversees a consortium of New York State’s medical schools as president and chief executive officer of Associated Medical Schools of New York. As chief executive officer of New York State Academic Dental Centers, he advocates for city, state and federal funding to address oral health disparities, innovative educational opportunities and inclusive and accessible oral health care services for New Yorkers.
Biggest career win: Teyan secured a new $10 million state allocation to help recruit and retain top scientists to New York to help drive scientific innovation. Other contributions: Teyan is a board member for the States United for Biomedical Research.
There were 930,000 uninsured people in New York in 2022, representing 4.9% of the state’s population (vs. 8% nationwide). (KFF)
President and chief executive officer, The Feinstein Institutes for Medical Research, Northwell Health
Scope of work: Kevin J. Tracey, a physician, is president and chief executive officer of The Feinstein Institutes for Medical Research at Northwell Health. He spearheads Northwell’s scientific research, leading a network of more than 50 labs, 3,000 clinical studies and 5,000 personnel across six institutes.
Biggest career win: Collaborating with global institutions such as the Karolinska Institute, Tracey and his team continue to unravel the link between the nervous and immune systems through the vagus nerve.
Other contributions: Tracey is a fellow of the American Association for the Advancement of Science. He is also a member of the American Society for Clinical Investigation.
President and chief executive officer, Bergen New Bridge Medical Center
Scope of work: Deborah Visconi is president and chief executive officer of Bergen New Bridge Medical Center, responsible for day-to-day operations and strategic planning. She oversees the nearly 2,200 employees at the hospital and its satellite locations.
Biggest career win: Visconi led the medical center’s transformation over the past seven years, leading to a complete financial turnaround and a 5% positive operating margin. She drove negotiations with major insurers, which led to the hospital accepting 99% of commercial insurance plans, and has helped secure millions of dollars in grant funding to renovate infrastructure and services.
Other contributions: Visconi serves on multiple boards, including that of the New Jersey Hospital Association.
Judith Watson
Chief executive officer, Westchester Community Health Center
Scope of work: Judith Watson is chief executive officer of Westchester Community Health Center, a federally qualified community health center, and has held various roles within the organization. She oversees the management and resources of the organization’s nine locations.
Biggest career win: Watson has worked to increase health care access for Westchester residents. Under her guidance, Westchester Community Health Center has introduced patient programs to address men’s health disparities, food insecurity, chronic disease and early childhood development delays. Other contributions: Watson serves as a board director for Westchester Medical Center Health Network, Nonprofit Westchester, New York College Advisory Board, 914Cares Advisory Board and Phelps Community Foundation.
Charles Wei
Chief clinical officer of restorative dentistry, Beam Dental Group
Scope of work: As chief clinical officer of restorative dentistry for Beam Dental Group, Charles Wei, a doctor of dental surgery, is responsible for overseeing the clinical experiences of patients at 12 locations. He standardizes clinical protocols and provides guidance to the group’s providers.
Biggest career win: With the goal of providing affordable dental access, Wei founded Haven Dental in 2023. He later joined Beam Dental Group, where he continues to prioritize a collaborative and transparent approach to treatment and pricing.
Other contributions: Wei has provided dental care to underserved populations across the globe, and has been involved with organizations such as Somos Amigos Medical Missions and the Children of China Pediatrics Foundation.
Eugenio Zuccarelli
Adviser, Carna Health
Scope of work: As an adviser at Carna Health, Eugenio Zuccarelli leads a team of data scientists focused on improving people’s lives and reducing medical costs by identifying at-risk individuals and connecting them with the resources to improve their health.
Biggest career win: During the Covid-19 pandemic, Zuccarelli co-founded a task force to leverage artificial intelligence to develop models capable of predicting Covid-19 patterns across the U.S. weeks in advance. This effort helped the group launch a public dashboard, featured in The Washington Post, for all to use. The insights generated were also provided to government agencies and local organizations.
Other contributions: Zuccarelli, a World Economic Forum Global Shaper, has written articles for various prominent publications.
Deborah Visconi
Ex-McDonald’s, State Farm jingle writer sells Central Park home
By C. J. Hughes
Keith Reinhard, a jingle-maker for McDonald’s and State Farm Insurance who rose to become head of advertising powerhouse DDB Worldwide, appears to have led a winning marketing campaign for his New York home.
Reinhard has sold his three-bedroom at Deutsche Bank Center, the high-rise condo at 25 Columbus Circle by Central Park, for $11.5 million, according to a deed that appeared in the city register Oct. 30.
e buyer of the nearly 4,000-square-foot condo unit, which features a 675-square-foot
Keith Reinhard, who was once chairman of ad giant DDB Worldwide, scored $11.5 million in the transaction.
living room, a primary suite with a dressing room and a formal dining room, plus a separate storage unit, was Charlotte Ackert, a longtime
trustee of the public television company WNET, who completed the purchase through a trust, the deed shows.
Reinhard paid $9.3 million for the home in 2004 when he and his late wife, Rose-Lee Reinhard, a fellow ad exec, bought it from the building’s developer, e Related Cos., according to the register.
Closed Oct. 2
But despite Reinhard’s considerable upside in the deal, which went into contract June 6 and closed Oct. 2, he at rst reckoned that the market could support a much larger number. Indeed, when he put the apartment on the market in February, he listed it for $17 million, according to StreetEasy. In the end, the unit required two discounts before selling for more than 30% less than its original ask.
As a copywriter who got his start at the tail end of Madison Avenue’s golden age, Reinhard was responsible for the 1970s McDonald’s ear worm “You deserve a break today,” though his equally catchy “Like a good neigh-
bor, State Farm is there” might even be more enduring.
But it was his role in helping consolidate the ad business in the mid-1980s, when he steered his Needham Harper agency into a merger with Doyle Dane Bernbach, a union that produced today’s DDB Worldwide, may be the accomplishment for which Reinhard is best remembered industrywide. Reinhard later served as DDB’s CEO until 2002 and its
chair till 2007.
McDonald’s, meanwhile, spent $650 million on advertising in 2023, including social media, according to an Ad Age report, though the now Omnicom Group-owned DDB lost the fastfood account to Publicis Groupe in 2021.
New York’s residential sales market has continued to be somewhat sluggish as fall has unfolded, as an expected drop in mortgage rates has failed to occur despite a rate cut by the Federal Reserve.
In the third quarter, which
News | Analysis | Events
mostly includes the weeks leading up to the September cut, the median price of luxury homes in Manhattan was $5.8 million, down 4% in a year, according to data from the appraisal rm Miller Samuel for the brokerage Douglas Elliman.
And the amount of inventory in that high-end bracket, or 1,569 coops and condos, was up more than 5% since the third quarter of 2023, according to Miller Samuel. Nikki Field, the Sotheby’s International Realty agent who marketed the condo for Reinhard, had no comment by press time.
25 Columbus Circle, Lincoln Square. At left, the entry hall | SOTHEBY’S INTERNATIONAL REALTY
LARGEST PRIVATE COMPANIES IN THE NEW YORK AREA CRAIN’S LIST
LARGEST PRIVATE COMPANIES IN THE NEW YORK AREA CRAIN’S LIST
, Chairman,
RobertSansone, Group
MaxLeventhal, Director of Business Development; JohnDevin, President, Fedway Associates; RalphIppolito, President, Inter
JonathanYusen , CEO,
ResearchbyAmandaGlodowski(amanda.glodowski@crainsnewyork.com).Toqualifyforthislist,companiesmustbeindependent,privatelyheldentitieswithnoultimateparent.Theyalsoneedtobe headquarteredintheNewYorkarea,whichincludesNewYorkCityandNassau,SuffolkandWestchestercountiesinNewYorkandBergen,Essex,HudsonandUnioncountiesinNewJersey.Nonprofit organizations,hospitals,mutualcompanies,travelagenciesandpartnershipssuchasaccountingfirmsandlawfirmsareexcluded. Crain'sNewYorkBusiness usesstaffresearch,extensivesurveysand themostcurrentreferencesavailabletoproduceitslists,butthereisnoguaranteethattheselistingsarecomplete.Revenuefiguresshownhavebeenroundedtoonedecimalplace,butrankingsand percentagechangesarebasedonunroundeddollarfigures.Incasesoftiesin2023revenue,companiesarelistedalphabeticallyunderthesamerankingnumber.Executivesmayholdadditionaltitles.N/ A-Not available. 1. Full-time and full-time equivalent, as of Sept. 30. 2. Figure from PitchBook. 3. Estimate from Time 4. Projected in 2023. 5. Figure from company press release. 6. Figure from Forbes See much more at crainsnewyork.com/data
LARGEST PRIVATE COMPANIES IN THE NEW YORK AREA CRAIN’S LIST
ResearchbyAmandaGlodowski(amanda.glodowski@crainsnewyork.com).Toqualifyforthislist,companiesmustbeindependent,privatelyheldentitieswithnoultimateparent.Theyalsoneedtobe headquarteredintheNewYorkarea,whichincludesNewYorkCityandNassau,SuffolkandWestchestercountiesinNewYorkandBergen,Essex,HudsonandUnioncountiesinNewJersey.Nonprofit organizations,hospitals,mutualcompanies,travelagenciesandpartnershipssuchasaccountingfirmsandlawfirmsareexcluded. Crain'sNewYorkBusiness usesstaffresearch,extensivesurveysand themostcurrentreferencesavailabletoproduceitslists,butthereisnoguaranteethattheselistingsarecomplete.Revenuefiguresshownhavebeenroundedtoonedecimalplace,butrankingsand percentagechangesarebasedonunroundeddollarfigures.Incasesoftiesin2023revenue,companiesarelistedalphabeticallyunderthesamerankingnumber.Executivesmayholdadditionaltitles.N/ A-Notavailable. 1. Full-timeandfull-timeequivalent,asofSept.30. 2. FigurefromPitchBook. 3. Figurefrom Forbes 4. Projectedin2023. 5. Crain's estimate. 6. CompanyincludesPalmBayInternational Inc., Taub Family Selections and Heritance Vintners. 7. 2022 revenue used. See much more at crainsnewyork.com/data
LARGEST PRIVATE COMPANIES IN THE NEW YORK AREA CRAIN’S LIST
headquarteredintheNewYorkarea,whichincludesNewYorkCityandNassau,SuffolkandWestchestercountiesinNewYorkandBergen,Essex,HudsonandUnioncountiesinNewJersey.Nonprofit organizations,hospitals,mutualcompanies,travelagenciesandpartnershipssuchasaccountingfirmsandlawfirmsareexcluded. Crain'sNewYorkBusiness usesstaffresearch,extensivesurveysand themostcurrentreferencesavailabletoproduceitslists,butthereisnoguaranteethattheselistingsarecomplete.Revenuefiguresshownhavebeenroundedtoonedecimalplace,butrankingsand percentagechangesarebasedonunroundeddollarfigures.Incasesoftiesin2023revenue,companiesarelistedalphabeticallyunderthesamerankingnumber.Executivesmayholdadditionaltitles.N/ A-Not available. 1. Full-time and full-time equivalent, as of Sept. 30. 2. Figure from Forbes 3. Figure from Axios. 4. Figure from PitchBook. 5. Crain's estimate. 6. Projected in 2023. See much more at crainsnewyork.com/data
CLASSIFIEDS
Zebra Tech Corp has an opening in Holtsville, NY for SW Eng, Sr.: Anlyz, dev, dsgn & maintn SW. MS+3 or BS+5 yrs exp reqd. Salary: $97,757.00-$144,300.00. Salary offered will vary w/in range based on variety of factors. All Zebra roles eligible for cash incentive programs. Telecom may be prmtd. When not telecom, mst rprt to wrkste. To apply email resume to Jobs@Zebra.com & ref job #7916906. If you are an indvdal w/a disbility & need asstnce in aplyng for psiton, contct us at workplace.accommodations@zebra.com. The EEO is the Law. The posters are avalble here: https://www.eeoc.gov/sites/default/files/2023-06/22088_EEOC_KnowYourRights6.12.pdf; https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/ OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf
Associate, Corporate Credit Underwriting (Apollo Management Holdings, L.P. – New York, NY); Mult. Pos. Avail. Salary range of $155,000 to $195,000/yr. Provide analytical and project support for all invstmt related activities; construct fin models, sensitivity analyses, comparable analyses and other discrete fin analyses as well as industry research across multiple industries F/T. Resumes: pkotakonda@apollo.com. Ref: Job ID: 8169268.
Quantitative Developer (Citadel Securities Americas Services LLC – New York, NY); Mult. Pos. Avail. Offering salary range of $230,000 - $270,000 / year. Dvlp & dply internal apps & software solutions for quant. research platforms. Design lowlatency high-throughput trading systms & infrastructure. F/T. Resumes: citadelrecruitment@citadel.com. Ref: Job ID: 8492026.
Zebra Tech Corp has an opening in Holtsville, NY for SW Eng, Advncd: Anlyzs, dev, dsgns & maintns SW for prdcts & systms. BS+8 or MS+6 yrs exp reqd. Salary: $111,000-$183,200. Salary offered will vary w/in range based on variety of factors. All Zebra roles eligible for cash incentive programs. Telecom may be prmtd. When not telecom, mst rprt to wrkste. To apply email resume to Jobs@Zebra.com & ref job #7741943. If you are an indvdal w/a disbility & need asstnce in aplyng for psiton, contct us at workplace.accommodations@zebra.com. The EEO is the Law. The posters are avalble here: https://www.eeoc.gov/sites/default/files/2023-06/22088_EEOC_KnowYourRights6.12.pdf; https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/ OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf
PUBLIC & LEGAL NOTICES
Notice of Qualification of VERBITSKY CAPITAL LLC
Appl. for Auth. filed with Secy. of State of NY (SSNY) on 10/08/24. Office location: NY County. LLC formed in Delaware (DE) on 10/03/24. Princ. office of LLC: 300 Central Park West, Apt. 3K, NY, NY 10024. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to the LLC at the princ. office of the LLC. DE addr. of LLC: 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State of the State of DE, John G. Townsend Bldg., 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity.
Notice of Qualification of CADIAN SOFTWARE GP, LLC
Appl. for Auth. filed with Secy. of State of NY (SSNY) on 10/23/24. Office location: NY County. LLC formed in Delaware (DE) on 09/25/24. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co. (CSC), 80 State St., Albany, NY 12207-2543. DE addr. of LLC: CSC, 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State of DE, Div. of Corps., The John G. Townsend Bldg., PO Box 898, Dover, DE 19903. Purpose: Any lawful activity
Notice of Formation of HARTFORD CT HOLDINGS LLC
Arts of Org filed with Secy of State of NY (SSNY) on 10/7/24. Office
Location: NY County. SSNY designated as agent upon who process shall be served and shall mail copy of process against LLC, to 156A EAST 83RD STREET, NEW YORK, NEW YORK 10028, USA. Purpose: any lawful act.
TEMPO HOOPS LLC Arts of Org. filed SSNY 1/23/2024 New York Co. SSNY design agent for process & shall mail to 570 Grand Street, Apt H901, NY, NY 10002
RA: EDWARD LUI, 570 Grand Street, Apt H901l NY, NY 10002 General Purpose
PUISSANT L.L.C. Arts of Org. filed SSNY 8/22/2024 New York Co. SSNY design agent for process & shall mail to 228 PARK AVE STE #986574, NEW YORK, NY, 10003
RA: US CORP AGENTS, INC. 7014 13TH AVE, SUITE 202, BROOKLYN, NY, 11228 General Purpose
DIA NATURAL STONE LLC
Arts of Org. filed SSNY 10/01/2024
New York Co. SSNY design agent for process & shall mail to THE LLC 368 9th Ave, WEWORK C/O KEREM SAZ, NY, NY 10001 RA: US CORP AGENTS, INC. 7014 13TH AVE, STE 202, BROOKLYN, NY, 11228 General Purpose
Notice of Formation of SHARAWADGI, LLC Arts of Org filed with Secy of State of NY (SSNY) on 10/31/24 Office Loc: NY County. SSNY designated as agent upon who process shall be served and shall mail copy of process against LLC, to 19 Stuyvesant Opal, Apt 12A, NY, NY 10009 Purpose: any lawful act
Notice of Formation of AMY R. ALSON, MD, PLLC Arts of Org filed with Secy of State of NY (SSNY) on 7/24/24. Office Location: NY County. SSNY designated as agent upon who process shall be served and shall mail copy of process against THE LLC, to 205 E. HIGH ST.. CHARLOTTESVILLE, VA, 22902.. Purpose: any lawful act.
Notice of Formation of FORCE MAJEURE LIFESTYLE, LLC Arts of Org filed with Secy of State of NY (SSNY) on 9/3/24. Office Location: NY County. SSNY designated as agent upon who process shall be served and shall mail copy of process against LLC, to PO BOX 89, DARRIEN, CT, 06820, USA Purpose: any lawful act.
BLUEFISH APPAREL LLC. Arts. of Org. filed with the SSNY on 08/22/24. Office: New York County. SSNY designated as agent of the LLC upon whom process against it may be served. SSNY shall mail copy of process to the LLC, 34 West 33rd Street, 7th Floor, New York, NY 10001. Purpose: Any lawful purpose.
Notice of Qualification of 50 HST HOSPITALITY LLC
Appl. for Auth. filed with Secy. of State of NY (SSNY) on 10/23/24. Office location: NY County. LLC formed in Delaware (DE) on 08/19/24. Princ. office of LLC: 183 Centre St., 6th Fl., NY, NY 10013. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co., 80 State St., Albany, NY 12207-2543. DE addr. of LLC: 251 Little Falls Dr., Wilmington, DE 19808. Cert. of Form. filed with Secy. of State, 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: Any lawful activity.
LUCIDITY CAPITAL PARTNERS LLC Application of AuthorityOrg. filed with the SSNY on 08/16/24. Office: New York County. SSNY designated as agent of the LLC upon whom process against it may be served. SSNY shall mail copy of process to the LLC, 555 West 53rd Street. #1547, NY, NY 10019. Purpose: Any lawful purpose.
Notice of Formation of AK Medical Rehabilitation Services, PLLC. Arts. of Org. filed with Secy. of State of NY (SSNY) on 9/6/24. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served.to 535 5th Ave, Ste 920, NY, NY 10017 Purpose: Any Lawful Activity
Notice of Formation of LP PRESERVATION DEVELOPER
LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 10/25/24. Office location: NY County. Princ. office of LLC: 116 E. 27th St., 11th Fl., NY, NY 10016. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to Corporation Service Co., 80 State St., Albany, NY 12207. Purpose: Real Estate Investment & Development
NOTICE OF FORMATION of Girl
Forgive Yourself Co. LLC. Arts of Org filed with Secy. of State of NY (SSNY) on 8/16/24. Office location: NY County. SSNY designated as agent upon whom process may be served and shall mail copy of process against LLC to 228 Park Ave S PMB 122264 NY, NY 10003. R/A: US Corp Agents, Inc. 7014 13th Ave, #202, BK, NY 11228. Purpose: any lawful act.
VINEA LLC Arts of Org. filed SSNY 7/29/2024 New York Co. SSNY design agent for process & shall mail to 45 W 76th Street Apt 1B, NEW YORK, NY, 10023 RA: US CORP AGENTS, INC. 7014 13TH AVE, SUITE 202, BROOKLYN, NY, 11228 General Purpose
HSH MANHATTAN LLC. Arts. of Org. filed with the SSNY on 09/18/24. Office: New York County. SSNY designated as agent of the LLC upon whom process against it may be served. SSNY shall mail copy of process to the LLC, c/o Marcum LLP, 730 Third Avenue, 11th Floor, New York, NY 10017. Purpose: Any lawful purpose.
Notice of Formation of D. LOUVEL MARKETING LLC Arts of Org filed with Secy of State of NY (SSNY) on 10/28/24. Office Loc: NY County. SSNY designated as agent upon who process shall be served and shall mail copy of process against LLC, to 136 E. 76th St Apt 15E, NY, NY 10021.Purpose: any lawful act
Notice of Formation of LL MAD IRON LLC Arts. of Org. filed with Secy. of State of NY (SSNY) on 10/10/24. Office location: NY County. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to c/o Farrell Fritz, P.C., 400 RXR Plaza, Uniondale, NY 11556. Purpose: Any lawful activity
federal funding. Trump has vowed to put a permanent stop to New York’s congestion pricing program — although Gov. Kathy Hochul has hinted that she may propose a new dollar figure for the Manhattan tolling system that would not require any new federal approvals.
First Trump administration
New York City has raked in federal funds during the Biden years — including some $2 billion through the Bipartisan Infrastructure Law and Inflation Reduction Act — which will help fund the redevelopment of the Brooklyn Marine Terminal and the construction of a linear park in Queens. The Gateway rail tunnel under the Hudson River, a critical $16 billion megaproject, is also underway after being stalled by the first Trump administration.
Construction on Gateway has passed the “point of no return” and is unlikely to be thwarted by Trump, advocates say. But other projects, like a future rebuild of Penn Station, may be unlikely to secure any federal funds in the coming years.
Hochul, who had campaigned hard for Democrat Kamala Harris, said Nov. 6 that she had created a new “Empire State Freedom Initiative” that would identify possi-
ble threats by the federal government to reproductive rights, immigration, gun safety, LGBTQ rights, labor and the environment, and propose legislation and rulemaking to protect them.
At the same time, Hochul called on Trump to keep his promise to repeal the SALT cap, and urged him to continue supporting Gateway and the extension of the Second Avenue subway to 125th Street.
“I will work with him or anybody, regardless of party, on these kind of efforts that I know will ben-
efit the State of New York,” Hochul said. “However, if you try to harm New Yorkers or roll back their rights, I will fight you every step of the way.”
Mayor Eric Adams offered his own, more muted response to Trump’s victory, saying at a Nov. 6 press conference that “this city will always stand up for the rights of women, our immigrant brothers and sisters, our LGBTQ+ community and millions of others.” Adams did not directly address Trump’s deportation plan, although his immigrant affairs com-
missioner Manuel Castro said in Spanish that New York “will not be following the instructions of the federal government in cases of mass deportations.”
Most New York business leaders supported the Democratic ticket over Trump, Kathryn Wylde, president of the Partnership for New York City, told Crain’s in September. But even they saw a potential silver lining in a Trump victory.
“The consolation prize with Trump is the change in the regulatory regime,” Wylde said. Business leaders have been unhappy with
“The consolation prize with Trump is the change in the regulatory regime.”
Kathryn Wylde, president of the
for New York City
the aggressive antitrust efforts being taken by Joe Biden’s Federal Trade Commission, and have looked to a Republican president for relief.
Trump’s second term will come with new wild cards. Trump has hinted he may try to exact revenge on his former home state following his criminal and civil courtroom defeats here, although his exact intentions are not clear.
Policy aside, Trump’s return to the White House will also remake New York’s political landscape. His first victory in 2016 enlivened New York Democrats, particularly progressives, and gave a boost to insurgent candidates like Alexandria Ocasio-Cortez who now play leading roles in the Democratic Party. Republicans, on the other hand, were put on the defensive — and it remains to be seen whether his victory this year will prove to be a drag on the GOP in future races, like the 2026 contest for governor.
“It’s the law of opposites,” one Albany lobbyist told Crain’s in September. “Whoever wins is going to be unpopular in two years.”
An election results gathering on Nov. 5 | bLoomberG
Partnership
COSTS
component of any health care payment reform.”
So far the state has paid Optum $159 million for its work on the database, according to records from the state comptroller, but the archive is unavailable to the public.
Optum, which earned nearly $227 billion in revenue last year, has yet to finish collecting the relevant data and has not made any claims information available to patients and researchers who want to better understand medical costs, according to the state. The database is currently only available internally to Health Department staffers.
The Health Department has chalked the delay up to logistical hurdles and challenges in collecting data from hospitals and insurers during the height of the pandemic. But in the meantime, New Yorkers continue to rack up high
New York spends more than any other state on health care, an average of $14,000 per person in 2023. That’s 37% more than the national average.
medical costs without adequate information.
The state spends more than any other on health care, an average of $14,000 per person in 2023. That’s 37% more than the national average, according to data from the U.S. Centers for Medicare and Medicaid Services. High medical costs have led to widespread medical debt statewide; more than 700,000 New Yorkers had medical debt in collections as of 2022, with half of those individuals owing $500 or more, according to a report from the Urban Institute, a Washington, D.C.-based think
tank that researches social and economic policies.
“Patients have suffered; employers have suffered. We have all paid for this delay,” said Elisabeth Benjamin, vice president of health initiatives at the Community Service Society, a Midtown nonprofit that helps patients navigate medical debt.
Intended to help patients
The cost transparency database was intended to help New Yorkers like Shameeza Singh, a mother of three who lives in Queens Village. Her son, King, was diagnosed with leukemia at age 2, and she and her husband immediately got him into treatment. The family didn’t discuss costs with the hospital when enrolling King in chemotherapy at Northwell’s Cohen Children’s Hospital in 2016; they just wanted to get him care.
Even with Singh’s insurance, which covered 80% of her son’s treatment costs, her family owed thousands of dollars per week. After her husband left his job to manage King’s treatment, the family was left to survive on a single income.
After four years of treatment, King is cancer-free. But the financial impacts of his diagnosis and subsequent procedures have endured. Singh said she wishes she’d had more information to compare the costs at different health systems, saying that she would have traveled to hospitals in other parts of the city if it meant she wouldn’t be swimming in tens of thousands of dollars in medical debt. It’s unknown how much another hospital would have charged for King’s treatment.
“It has just been a financial nightmare,” she said.
Barbara Osborn, a spokeswoman from Northwell Health, said that the health system “recognizes the challenges that families can face when managing health care costs” and has a financial assistance program that serves households up to five times the federal poverty level. Osborn noted that
the health system provides services to all patients regardless of their ability to pay.
When New York passed the law authorizing its database in 2011, it was set to become a national leader. Other states had similar tools, with Maryland implementing the first all-payer claims database in 1995. But New York’s directory was designed to be even more comprehensive than its predecessors; it would compile information on health care prices from medical claims, as most other comparable tools do, but it would also make use of birth and death data, hospital discharges and insurance enrollment to paint the full picture of the state’s health.
Since New York began its contract with Optum, at least 23 other states have gotten similar databases up and running, according to the U.S. Department of Health and Human Services. The federal government also implemented its own rule to regulate hospital price transparency in 2021, requiring hospitals to publish a full list of their prices online to increase competition and mitigate rising costs.
“We were ahead of the curve in 2011,” Benjamin said. “Now we are so far behind.”
Optum did not respond to a detailed list of questions from Crain’s about what work it has completed on the all-payer database and its delay in executing the project.
Cadence Acquaviva, a spokeswoman from the state Health Department, told Crain’s that the general system development has been complete since 2018 and the state began collecting data from insurers in 2020. The pandemic presented challenges that prevented hospitals and insurance companies from quickly submitting medical claims to the state. Once the state finally started collecting the data from insurers, officials uncovered differences in the way companies decide to pay or deny a medical claim, making it difficult to assess and validate the data, Acquaviva said. The database currently processes 800 mil-
Dog photographer Wegman parts with his longtime Chelsea studio
By C. J. Hughes
Dog photographer William Wegman, who has done for Weimaraners what Monet did for water lilies, apparently has sold the studio where he made much of his canine-themed art.
The building, 245 W. 18th St., a 2-story mixed-use site in Chelsea, went into contract last month, according to the Olshan Luxury Market report, which tracks Manhattan contract signings for $4 million and above. The last asking price of the property, which in addition to the large sky-lighted studio space offers a two-bedroom apartment, was $12.5 million.
That’s a considerable drop from the $16.5 million that Wegman sought for the property a year ago, when he first listed it. He lowered the price three times since then,
most recently in early September, according to StreetEasy.
But elevated mortgage interest rates, which have not dipped as expected in the wake of the Federal Reserve’s September rate cut, still seem to be chilling the sales market.
Yet Wegman and his wife, book publisher Christine Burgin, bought the 5,800-square-foot, ivy-covered building between Seventh and Eighth Avenues in 1994 for just $720,000 when relocating from a former synagogue in the East Village, according to public records.
It’s not clear who bought the property, which was marketed as a home and workspace but also a potential development site. The low-slung, prewar structure packs in an additional 18,000 square feet of air rights, based on its listing.
James Flowers, one of the Douglas Elliman agents representing
lion patient health care visits each year and captures information on 15 million people with insurance coverage in New York.
“We are in the final stages of validating the data,” Acquaviva said, adding that the Health Department is still collecting information from commercial insurance companies and plans to open some data to the public next year.
Helping policymakers
The database was also intended to provide lawmakers with the necessary information to mitigate the rising cost of health care by better understanding the prices of elective services, enrollment in state health programs and hospital bills for additional charges such as facilities and overhead fees.
“It would give the public and policymakers a way to know where our health care dollars are going,” said Richard Gottfried, former Manhattan assemblyman and health chairman who helped devise the state law in 2011, noting that health care is now close to 20% of the state’s economy.
There are a “limitless” number of things that could be better understood in New York with more health data transparency, according to Paul Francis, chairman of the think tank Step Two Policy Project and a former health advis-
er under ex-Gov. Andrew Cuomo. The database could help agencies like the Department of Health or the Department of Financial Services build a consumer-facing tool to help patients and policymakers understand the price differences between shoppable services like mammograms or colonoscopies across different health systems. It could also help policymakers understand how many patients enroll in a popular state home care program that’s responsible for more than $9 billion in Medicaid spending each year — one of the biggest policy focuses in New York.
The Health Department acknowledged that the database is essential for patients and policymakers.
The database “is definitely one source that will support price transparency for health care, not just hospital price transparency,” said Acquaviva. The purpose of the database is to provide a “comprehensive picture of population health in New York State” and serve as a key data and analytical resource to support policy and research, she added.
And Singh agrees that the tool — and better hospital price transparency enforcement from all levels of government — would have helped her family tremendously. “It’s the least that they can do,” Singh said.
Wegman, had no comment by press time. And the deed for the property, which could indicate the buyer’s identity, won’t appear in city records till after the transaction closes, which is probably weeks away.
But the sale seems to mark an end of Wegman and Burgin’s New York City chapter, as the couple has relocated to a second home they own in upstate Columbia County, according to earlier reporting about the listing in The New York Times. Similarly, the couple’s footprint on West 18th Street has decreased through the years. They once also owned a three-bedroom apartment (made up of two condos) at the small next-door building 239 W. 18th St. But the pair sold that apartment in 2019 for a total of $10.5 million, the register shows.
Focused at the start of his career
in the 1960s on paintings and sculptures, Wegman began photographing his beloved dog breed in humanlike poses in the 1970s with a Weimaraner called Man Ray. Later portraits would feature the same subject dusted in flour, decorated to resemble an elephant and dressed as Louis XIV, pairings that helped Wegman achieve both fine art and mass-market acclaim. After Man Ray died in 1982, several other dogs followed, though Wegman is apparently down to his last Weimaraner model, Flo, the Times said.
Wegman’s sale was part of a relatively strong week for the luxury tier, according to the Olshan data. From Oct. 21 to Oct. 27, buyers went into contract for 25 condos, co-ops and townhouses in the $4 million-plus category in Manhattan, an increase of seven deals over the previous week. But sellers do not seem to be getting their original prices.
Indeed, the average listing discount of the homes that traded in this latest round was 14%, the data showed.
Shameeza Singh (left) said she wishes she’d had more information to compare the costs at different health systems. | COURTESY OF SHAmEEZA SINGH
A man walks by a Wegman Weimaraner portrait. | BUCK ENNIS
Interim health commissioner on her vision for the agency in turbulent times
By Ethan Geringer-Sameth
It has been less than a month since Dr. Michelle Morse stepped in to lead the city’s Department of Health and Mental Hygiene after her predecessor, former Health Commissioner Ashwin Vasan, abruptly stepped down to spend more time with family.
She takes the helm as interim commissioner at a time when the city contends with a maelstrom of public health and political crises. Morse now oversees the agency’s roughly $2 billion budget and more than 4,000 budgeted positions tasked with maintaining the health of a city still reeling from the pandemic.
The agency faces new challenges from mpox and a rise in tuberculosis cases, and has a responsibility to support the health of growing populations of homeless and immigrant residents. But the department has maintained that many of Vasan’s signature issues — from mental health to the public health roadmap known as HealthyNYC — will not be disturbed by the change in leadership.
Crain’s spoke to Morse about her priorities for the department and the challenges of leading a critical agency at a time when the Adams administration’s political standing is in question. This interview has been edited for length and clarity.
What is it like stepping into the top doctor’s role at this moment?
Certainly there are public health challenges that I will be at the helm for, and it is an incredibly important time for us to keep pushing our mission to protect and promote health and health equity. So I feel prepared to step up in this time. It really, for me, continues a tradition in my family of public service. And having started as the inaugural chief medical o cer of this agency at the height of the Covid pandemic, I’ve really seen what our work can do in terms of transforming the public health and safety of New Yorkers in times of deep public health challenge.
The department has maintained that many of Vasan’s priorities are already underway and would not be disrupted by the change in leadership. But you are, of course, a different leader with your own perspective and approach. Where does your vision differ?
e beauty of this public health agency being the largest local public health department in the country is that in some ways there is already a thrust in terms of the mission of the agency. I intend to continue that work. From my perspective, part of what I bring and part of my focus as commissioner [are] going to be stability and equity. ose are really the two big areas of focus for me. I intend to focus heavily both on HealthyNYC as well as chronic disease. I think it’s so important for us to have clear goals and partner with other city agencies and other sectors to advance those goals, particularly because of the challenging impact of the pandemic on New Yorkers’ health and on the world’s health. I am also focused on our O ce of Health Care Accountability, which I helped to shape as chief medical o cer. And then our work around birth equity is a particular focus for me.
New York has signi cant racial disparities in health care. In particular, Black New Yorkers have some of
the highest rates of asthma, diabetes and overdose. How speci cally are you going to address those disparities?
From my perspective, and I know Dr. Vasan felt this way as well, we can’t achieve the goals that we set out in HealthyNYC for 2030 without really looking speci cally at the populations that have the most unfair outcomes and focusing some of our resources and attention there. at is true for all seven goals in Healthy NYC. Unfortunately, in all seven of them, Black New Yorkers are doing the worst. So I can’t — and our agency and our city can’t — be successful unless we really take a critical eye and focus on what is happening in the Black community in New York City and nd ways to address some of the most pressing needs in that community.
What is it like stepping into the role at this moment, during an exodus of top brass and as City Hall appears politically hamstrung?
Over the past 15 or so years in my career, I have worked in some of the most challenging places around the world, from Haiti to Rwanda to multiple other places across the U.S. as well, and what I’ll say is there is such an important role for public health leadership in any time. Having myself experienced leading in challenging conditions, I feel
very strongly that our work at this agency has to continue and move forward. My plan and my focus is going to be on, I would say, keeping the gears oiled for our public health agency so that our sta can continue to serve New Yorkers, particularly marginalized New Yorkers.
So much of the city’s funding comes from the state and federal government. Do you have any concerns that that could be impacted by the mayor’s political standing? From a clinician standpoint and from the city doctor standpoint, there’s really never been a time when public health has been adequately funded, quite frankly. So that is an ongoing challenge that has not changed. At the same time, public health departments across the whole country are facing the nancial challenge of pandemic-era funding and emergency funding really dwindling. ey are planning around how we can keep critical public health functions going, despite the shifts in the funding landscape at the national, state and local level. So that will be a challenge for me and for our agency.
Community-based substance-use treatment providers want to see more funding from settlements with opioid manufacturers and distributors. The city has outlined how it will use
some of the funds by scal 2027, but speci cs about how much money will go to existing community-based substance-use treatment programs remain scarce. What do you say to providers that want to see more dollars on the ground?
Number 1, for the rst time in recent history, overdose deaths have actually started to shift. at is a trend that we hope will continue. Part of our role in the city Health Department is continuing to do the work of community engagement, listening very seriously to the demands, concerns and priorities of the communities we serve and really integrating those priorities into our planning.Even though that trend in overdoses looks promising, we’ve seen, again, racial inequities in overdose deaths, so we have to pay attention to that as well. A lot of what we do in our approach at the Center for Health Equity and Community Wellness is looking at place and race. e Bronx is a priority for those reasons, and really digging deeper into what’s happening to middle-aged and older Black people in terms of overdoses is also going to be a priority for us.
Many city agencies are seeing high vacancy rates, and the Health Department is no exception. What is your approach to lling those empty positions?
I saw how challenging it was during the pandemic to respond, and yet it was our workforce who helped get the city back on track to where we are now. What we have also seen is that our vacancy rate is falling. Part of my goal in bringing this focus of stability and equity is to get the next generation of New Yorkers excited about getting into the public health workforce. And part of the way we’re going to do that and have been doing that is through things like engaging and training community members to be community health workers, continuing to work with many of our partners across the city to bring people into public health and to make it an exciting way to serve the public.
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