Albany Medical Center Names New CFO

Frances Spreer Albert
Frances Spreer Albert

Albany Medical Center has named veteran financial leader Frances Spreer Albert as CFO and executive vice president, where she will be responsible for all financial operations for the more than $1.1 billion enterprise.

According to a press release from Albany Medical Center, Spreer Albert, a certified public accountant, joined Albany Medical Center in 2000 as vice president of finance following a distinguished career with international accounting firm KPMG. During her tenure, she has contributed to the growth and strengthening of Albany Medical Center’s finances and improvement of all major financial ratios.

“Fran is known to the Albany Medical Center community not only as a highly skilled financial manager but as a visionary leader for our institution,” said James J. Barba, president and CEO, Albany Medical Center. “During a time of significant change and growth for both Albany Med and for health care in our region, Fran has played an integral role in numerous initiatives that have strengthened our institution and prepared us for the changes ahead.”

During her time at Albany Med, Spreer Albert played a key role in the financing of Albany Medical Center’s $360 million Patient Pavilion, supported the development of Albany Medical Center’s Center for Innovation, and the acquisition of private physician practices by the Albany Med Faculty Practice. In addition to financial reporting, operations, and treasury services, Spreer Albert has overseen research grant accounting and reporting, endowments, and other significant investments of Albany Medical Center.

Spreer Albert replaces William Hasselbarth, who retired as chief financial officer after 26 years of service to Albany Med.

She is a graduate of the University at Albany with a bachelor’s degree in accounting and business.

Albany Medical Center incorporates the 734-bed Albany Medical Center Hospital and the Albany Medical College, which trains the next generation of doctors, scientists and other health care professionals, and also includes a biomedical research enterprise and the region’s largest physicians practice with more than 450 doctors.