June 5 , 2006 - Cardinal O'Malley Announces Appointment of New Chancellor for the Archdiocese
(Brighton, Mass.) June 5, 2006 - Cardinal Seán P. O'Malley today announced that he has named James P. McDonough as Chancellor for the Archdiocese of Boston. Cardinal Seán said, "As Chancellor, Jim will work as part of a new leadership team in developing strategic initiatives that will help us restore financial stability and revise the organizational structure of the Archdiocese. In all these efforts our goal is to better serve the needs of the people in our parishes and fulfill our obligations to the wider community. Jim's strong management and leadership skills, combined with his commitment to the Church, will serve us well as we seek to carry out our mission."
Mr. McDonough was previously president and chief operating officer and then CEO of Abington Savings Bank. He is a past chairman of the South Shore Chamber of Commerce, past chairman of the Massachusetts Bankers Association and a former member of its board of directors. Mr. McDonough resides in Hanover with his wife and two children.
As the fifth lay Chancellor of the Archdiocese of Boston, Mr. McDonough begins his term today, replacing David W. Smith, who is retiring as Mr. McDonough takes office. In the Archdiocese of Boston the Chancellor serves as the Chief Financial Officer and Assistant Clerk of the Corporation Sole. The Chancellor has responsibility for the financial management of the Archdiocese including budget, financial reporting, cash management, investments, risk management, MIS, benefits, human resources, cemeteries, real estate and facilities.
"After a lifetime of work in the banking industry, I welcome this chance to make a difference", commented McDonough. "I care deeply about the Church and feel that this is a unique opportunity to apply my private sector experience to help the Archdiocese address its challenges. I am grateful to the Cardinal for allowing me this opportunity to serve the Church."
At Cardinal O'Malley's request, Neal Finnegan, Director of Citizens Financial Capital, Inc., chaired the search committee for the new Chancellor. The committee was comprised of local leaders in finance and communications, members of the Archdiocesan Finance Council, parish leadership, and clergy from the Cardinal's administrative cabinet.
"It was a pleasure to serve the Cardinal as he sought to find the right individual for this key leadership position within the Archdiocese,"stated Neal Finnegan. "Over the past several months, the Search Committee has had the benefit of working with an impressive and talented pool of candidates. On behalf of the committee I am very pleased that Jim emerged as the Cardinal's selection, he has a proven ability to transform operations and build strong organizations. I am confident he will serve the Archdiocese with distinction."
In addition to the Cardinal recently naming Fr. Richard Erikson as Vicar General and Moderator of the Curia, the Archdiocese also is undertaking searches for candidates for the positions of Secretary for Institutional Advancement and Secretary for Educational Services.
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