New money · James M. Staten will assume the position of chief financial officer for the spring of 2015. – Photo courtesy of Yale New Haven HealthJames M. Staten, the executive vice president and chief financial officer for the Yale New Haven Health System, has been hired by USC as the new CFO.Staten served as an important member for the president and CEO’s leadership team at the YNHHS for more than 15 years, according to USC News, the Los Angeles Times reported the health system operates three hospitals in Connecticut, one of which is affiliated with Yale University.Staten will replace Robert Abeles, who was appointed senior vice president, finance and chief financial officer in August 2010, after serving as an interim senior vice president and chief financial officer since January 2009. Abeles recently announced he is retiring.Staten will be reporting to President C. L. Max Nikias starting on Jan. 19. He will oversee USC’s budget and planning, Keck School of Medicine’s finances, capital construction and facilities management services, the university comptroller and information technology services.According to USC News, Staten’s past titles include executive vice president and CFO for the YNHHS, chairman of the board of Medical Center Insurance Co. and treasurer of the boards of both the YNHHS and the Yale-New Haven Hospital.While Staten was at Yale-New Haven, he developed health care strategies with his colleagues, launched a system-wide information technology and data analytics and implemented cultural integration activities. Additionally, he managed the financing that led to the opening of the Smilow Cancer Hospital at Yale New Haven in 2010.Prior to working at Yale New Haven, he was the senior vice president of finance at New York-Presbyterian Hospital and New York-Presbyterian Health System. He worked as the organization’s vice president of financial planning before being promoted.According to USC News, Staten also directed Ernst & Young’s NYS Revenue Cycle Consulting Services and was a partner at Pannell Kerr Fosrster. He also served as a board member of The Country School in Madison, Connecticut, and the finance committee for the Connecticut Hospital Association.Staten holds a B.A. in business and economics from the State University College of New York.