Western New England University announces the appointment of Raymond (Ray) McCarthy, CPA, as Vice President for Finance and Administration effective July 7, 2025. An accomplished executive with more than 30 years of experience in finance, McCarthy brings a deep strategic background and a lifelong connection to the University community.
A two-time Golden Bear, McCarthy holds a BSBA in Accounting (1986) and an MBA in Healthcare (1998) from WNE. His career includes nearly three decades of service at Baystate Health, where he most recently served as Senior Vice President, Chief Financial Officer, and Treasurer. There, he oversaw financial strategy for a $2.4 billion integrated health delivery system in western Massachusetts with over 13,000 employees. His responsibilities spanned financial oversight of four acute care hospitals, a large multi-specialty physician group, a visiting nurse and hospice organization, a captive insurance company, and a health plan - Health New England. Baystate is also the regional campus for UMass Medical School. McCarthy’s scope included budgeting, financial reporting, strategic planning, capital financing, treasury and investment management, managed care contracting, revenue cycle operations, supply chain, and cost accounting.
“Ray’s leadership experience, strategic insight, and longstanding dedication to WNE make him exceptionally well-suited to guide our financial future,” said President Robert E. Johnson. “We are excited to welcome him back to campus—this time, as part of our senior leadership team.”
In addition to his tenure at Baystate, McCarthy has held leadership roles at Yale New Haven Health System, CIGNA Healthcare, and KPMG Peat Marwick. A trusted advisor to the University, he joined the WNE Board of Trustees in 2023, most recently chairing the Audit Committee. He is stepping down from that role to assume the VPFA position.
Reflecting on his return to campus, McCarthy shared, “As I continue to serve the University and community, it feels like I’ve come full circle—coming back to my roots where it all began. I recognize the financial challenges higher education as a sector is facing and am committed to working collaboratively to help WNE navigate a path to long-term sustainability.”
During his undergraduate years, Ray was a resident advisor and captain of the men’s soccer team. He remained actively involved as a member of the Accounting Advisory Council, collaborating with alumni, faculty, and students on University programs and events.
McCarthy has called Longmeadow home where he has lived for the past 30 years with his wife Sarah—also a WNE alumna. The couple met on campus in 1986 and now have two adult daughters living in Boston. Ray’s connection to WNE goes further—his father also earned an MBA from the University in the mid-1960s, a legacy that inspired Ray to begin his own journey here.
Reflecting on his return to campus, McCarthy shared: “Higher education is facing a period of profound change, and institutions must be nimble, strategic, and collaborative to thrive. I look forward to contributing by providing a steady financial hand and helping the University adapt to ensure long-term sustainability and student success.”
