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Morrissette elected chairman of Silver Cross board

Published: Saturday, Aug. 31, 2013 5:30 a.m. CST

NEW LENOX – The Silver Cross Hospital board of directors recently elected Stephen G. Morrissette as chairman.

With more than 30 years of experience in all facets of the financial industry, Stephen G. Morrissette is an associate professor of finance at the University of St. Francis in Joliet and an adjunct associate professor at the University of Chicago Booth Graduate School of Business, where he teaches merger and acquisition strategy. His expertise includes  strategic planning, mergers and acquisitions, capital planning, credit analysis/process, as well as profit and performance improvement.

Formerly, he was chief executive officer of First Community Financial Partners, a bank holding company with $900 million in assets headquartered in Joliet. He was the founding CEO in 2004 of the lead bank, First Community Bank of Joliet.

Morrissette previously held several positions within BankOne, including senior vice president of strategy of the Global Commercial Bank; chief finance officer of Bank- One’s middle market bank, including American National Bank of Chicago; and chief financial officer of First Chicago’s retail bank. He joined BankOne when it purchased AmeriFed Bank in 1995. Most of his banking career focused on transformation projects, especially through mergers and acquisitions.  

His mergers and acquisitions experience includes more than a dozen projects ranging from small deals with $10 million in sales to a full-time role on the First Chicago-BankOne executive merger integration team, one of the largest financial services mergers at that time.

In his various CFO roles at BankOne Commercial Bank, American National Bank of Chicago and First Chicago Regional Bank, he was responsible for strategy, mergers and acquisitions and post-merger integration. He also served as head of strategy and planning for BankOne Commercial Banking.

He serves on several bank, corporate and nonprofit boards. Most recently, he was a trustee and board member at Silver Cross Hospital, where he served as treasurer. He currently serves on the hospital’s finance, governance and corporate strategy committees, as well as the steering committee to create an accountable care organization. He chairs the finance subcommittee for that project. 

He is a graduate of the Union Institute & University with a doctorate in entrepreneurial finance. He also is a graduate of the University of Chicago, earning a master’s of business administration degree in finance and strategy. He earned a bachelor of science degree in management information systems from the University of St. Francis, and a bachelor of arts degree in English literature from the University of St. Francis.

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