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HARTFORDBUSINESS.COM | JUNE 10, 2024 3 Biz Briefs Dr. Andrew Agwunobi is returning as CEO of UConn Health. After two-year hiatus, Agwunobi returns as UConn Health CEO A fter two years serving as a senior executive for health insurer Humana, Dr. Andrew Agwunobi has returned to UConn Health as its CEO and executive vice president of health affairs. Agwunobi previously had a dual role of interim president of the University of Connecticut and CEO of UConn Health. He left to work for Humana in early 2022, after starting with UConn Health in 2014. Agwunobi was selected to return to the CEO role after an extensive national search, UConn officials said. His first day back in his old job was May 31. Dr. Bruce Liang, who was named interim CEO of UConn Health after Agwunobi's 2022 departure, will continue as dean of the UConn School of Medicine. Agwunobi, a pediatrician with an MBA from Stanford Business School, returns as the UConn Health center's future remains somewhat cloudy. Many state leaders agree the health center — which has faced sizable deficits over the years and entertained past merger options — needs to achieve larger scale and greater financial stability. A newly published study by investment banking firm Cain Brothers concluded that the state should explore selling John Dempsey Hospital, linking it in partnership with a private acute care network, and other options to keep the UConn Health Center afloat financially. The analysis also concluded the Farmington-based home to UConn's medical and dental schools and John Dempsey Hospital is too small to compete in the current market while struggling with fringe benefit and wage costs. Yale University names its 24th president Yale University has named its next president. Maurie McInnis, who earned a Ph.D. from Yale in 1996 and currently serves as president of Stony Brook University in Long Island, will become the school's 24th president as of July 1, the university announced. She will be the first woman to lead the university in a non-interim role. McInnis will succeed Peter Salovey, who served for 11 years and is returning to the faculty full-time. Josh Bekenstein, senior trustee and chair of the presidential search committee, said McInnis was the unanimous choice of the Yale Board of Trustees. McInnis has spent three decades in higher education, and has held teaching, research and leadership roles. At the University of Virginia, she was an associate dean and led academic affairs as a vice provost; at the Univer- sity of Texas at Austin, she was the provost. Nutmeg State Financial Credit Union, First Bristol FCU complete merger Rocky Hill-based Nutmeg State Financial Credit Union and First Bristol Federal Credit Union have completed their merger, following approval from the state Department of Banking. The two credit unions in January applied to merge under the banner of Nutmeg, the larger of the two institutions. The merger became effective on June 1. The newly formed $675 million organization will serve 48,000 members with 10 branches across Connecticut. Nutmeg CEO John D. Holt will serve as CEO of the combined organization, while First Bristol CEO Mark Cornacchio will remain in a leadership role with the credit union. First Bristol will operate as a division of Nutmeg until the credit unions' systems and operations are combined early next year, and its two Bristol branches will remain open under the Nutmeg brand. Naugatuck-based Ion Bank to absorb New Jersey lender Naugatuck-based Ion Bank announced that it plans to absorb New Jersey lender NVE Bank as part of a merger. NVE Bancorp, the holding company of NVE Bank, will join Ion Financial, which is the holding company of Ion Bank. NVE Bank will continue as a sepa- rate division of Ion Bank. The merger will increase Ion Bank's assets from roughly $2.1 billion to $2.7 billion, expanding the lender's reach into Bergen County, New Jersey, with the addition of 10 branches. In July 2022, Ion Bank acquired Lincoln 1st Bank in New Jersey for $7.5 million. David Rotatori, president and CEO of Ion Bank, will remain CEO of Ion Financial, which currently has 20 branches in Connecticut and two in New Jersey. Maurie McInnis CONTRIBUTED PHOTO | PAUL HORTON/UCONN Ion Bank CEO David Rotatori. HBJ FILE PHOTO Tel: (860) 236-9998 | Fax: (860) 570-2493 Copyright 2020. All rights reserved. Postmaster: Please send address changes to: Hartford Business Journal P.O Box 330 Congers, NY 10920-9894 Peter Stanton | CEO, pstanton@nebusinessmedia.com Tom Curtin | President, ext. 124, tcurtin@hartfordbusiness.com Subscriptions Annual subscriptions are $132.00. To subscribe, visit HartfordBusiness.com, email circulation@ hartfordbusiness.com, or call (845) 267-3008. Advertising For advertising information, please call (860) 236-9998. 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