Kenneth B. Colloton Appointed Senior Vice President, Center for Innovation
ALBANY, N.Y., January 23, 2012—One of the region’s leading business executives and a recognized leader in innovation, growth and efficiency has been named senior vice president of Albany Medical Center and will head its newly created Center for Innovation.
Kenneth B. Colloton, whose career has spanned more than 35 years in banking and finance, joins the senior leadership team of the Medical Center, charged with leading the critical effort to improve competitiveness by efficiently delivering the highest quality of care at the lowest cost.
In his new position, Colloton will develop strategies and improvements to increase efficiency and help ensure continued success for Albany Med in the rapidly changing health care environment. In this role, he will also help shape the Center for Innovation, exploring new ways to advance Albany Med’s mission and improve the bottom line.
“Albany Medical Center is extremely fortunate to have someone of Ken Colloton’s caliber leading this important effort. In his long and distinguished career in the finance industry, he helped guide organizations through market and regulatory changes similar to those currently underway in health care,” said James J. Barba, Albany Med’s president and CEO. “Ken’s perspective is especially powerful: he brings a familiarity with the Medical Center, having served on our board of directors, coupled with the ability to view our operations objectively. He understands our strengths, challenges and aspiration in a unique way – and clearly he understands change.”
Most recently Colloton, of East Greenbush, served as senior vice president and director of Citizens Bank, where he developed and implemented a model of innovation and competitive positioning to accelerate business growth and revenues in Citizens’ 13-state government banking franchise. Previously, he spent nearly 20 years with Bank of America and its predecessors Fleet Boston Financial and Norstar in leadership positions, including regional president for the Capital District and Hudson Valley. Before that, he spent a decade with Bankers Trust Company as a vice president and group head of global trading and funding, residing in Hong Kong and Brazil.
Over his years in banking and finance, Colloton developed an expertise in the areas of innovation, efficiency and productivity, and led numerous programs to re-build corporate cultures focused on growth, productivity and results.
Colloton also brought these skills and experiences to numerous non-profit organizations, most notably the World Alliance of YMCAs, the oldest and largest health and human services organization in the world, where he was elected the first American president in 30 years and worked to transform the organization’s image to increase its global competitiveness in the areas of membership, employment and philanthropy.
In addition, Colloton has served on the board and executive committee of the Center for Economic Growth and the Albany-Colonie Regional Chamber of Commerce; was a trustee and board treasurer of the Albany College of Pharmacy and Health Sciences; held a state Senate appointment to the New York Business Development Corporation; holds a gubernatorial appointment to the board of Hudson Valley Community College; and chaired the board of directors of the Capital District YMCA, among numerous other community involvements.
A recipient of numerous honors, Colloton was recognized with a Jefferson Award in 2009 for outstanding public service; the Albany-Colonie Regional Chamber of Commerce “Spirit of the Chamber award,” the President’s Award of the Capital District YMCA, and the Distinguished Alumnus Award of Hudson Valley Community College, to name a few.
A native of the Capital Region, he is a graduate of Hudson Valley Community College, York College of Pennsylvania and the Bank Administration Institute for Advanced Banking.
Albany Medical Center, northeastern New York’s only academic health sciences center, is one of the largest private employers in the Capital Region. It incorporates the 651-bed Albany Medical Center Hospital, which offers the widest range of medical and surgical services in the region, and the Albany Medical College, which trains the next generation of doctors, scientists and other healthcare professionals, and which also includes a biomedical research enterprise and the region’s largest physicians practice with 325 doctors. Albany Medical Center works with dozens of community partners to improve the region’s health and quality of life. For more information: www.amc.edu or www.facebook.com/albanymedicalcenter.
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