PITTSBURGH, June 23, 2021 /PRNewswire/ -- Highmark Health today announced John Orner as senior vice president and chief investment officer, replacing Dennis Cronin, who plans to retire by the end of 2021.
As chief investment officer, Orner will oversee the Treasury Services Division of Highmark Health, including investment activities and corporate insurance functions for all Highmark Health organization entities. He will also supervise debt issuance and monitoring activities for the organization, including AHN and Highmark long term debt and all lines of credit and shorter-term borrowings with financial institutions. John will be responsible for managing all Highmark banking and portfolio management relationships and co-own the organizational capital deployment strategy along with senior vice president of Highmark Health corporate finance.
Orner brings with him over 30 years of treasury, business development, and investment experience, primarily with Blue Cross Blue Shield of Minnesota (BCBSM). He has served as the insurer's vice president, treasurer, and chief investment officer since 2009, overseeing $4.5 billion of asset across a wide spectrum of portfolios, leading cash flow forecasting and cash management of over $13 billion in annual cash flows, and managing BCBSM organization-wide risk management. Prior to this most recent position, John held positions at BCBSM in business development and treasury operations.
He has an MBA from University of St. Thomas Opus College of Business in St. Paul, Minnesota and a bachelor's degree in management from Cardinal Stritch University in Milwaukee, Wisconsin.
Dennis Cronin, who has held financial and risk management leadership positions within Highmark Health for over 28 years, last month announced his intention to retire following a smooth transition period for the new chief investment officer. He made this personal decision to dedicate more time to family, his community, and other endeavors, including membership on the board of Pancreatic Cancer Action Network (PanCAN), which is his long-time passion.
Cronin previously served as chief financial officer of HM Insurance Group (HMIG) and vice president of financial investigations for Highmark Inc. In his current role as chief investment officer, Cronin had many accomplishments including the placement of over $2B of debt for the enterprise and managing a portfolio of $16B in assets across the enterprise encompassing operational, pension, and savings plan portfolios. He also led Highmark Health's pandemic response team in its early stage, focused on protecting our employees and delivering for our customers while we navigated this unprecedented situation. Cronin was also instrumental in guiding his team to create the Highmark Health organization capital planning tool and Enterprise Risk Management program.
"Dennis has been a trusted advisor and partner, working with me to deliver on a series of high-profile, strategic projects. He is a consummate professional, an extremely hard worker, and a well-respected leader. I am extremely grateful for the opportunity to play a role in his career and successes at Highmark Health and to have experienced his sense of humor," shared Saurabh Tripathi, Executive Vice President and Chief Financial Officer of Highmark Health.
"John brings extensive expertise in health care finance and treasury services. I am eager to bring him into the Highmark Health family and look forward to partnering with him on future treasury and investment opportunities," added Tripathi.
About Highmark Health
Highmark Health, a Pittsburgh, PA-based enterprise that employs 37,000 people who serve millions of Americans across the country, is the parent company of Highmark Inc., Allegheny Health Network, and HM Health Solutions. Highmark Inc. and its subsidiaries and affiliates provide health insurance to more than 6 million members in Pennsylvania, West Virginia, Delaware and New York as well as dental insurance, and related health products through a national network of diversified businesses. Allegheny Health Network is an integrated delivery network comprised of thirteen hospitals, more than 2,500 affiliated physicians, ambulatory surgery centers, an employed physician organization, home and community-based health services, a research institute, a group purchasing organization, and health and wellness pavilions in western Pennsylvania. HM Health Solutions is focused on meeting the information technology platform and other business needs of the Highmark Health enterprise as well as unaffiliated health insurance plans by providing proven business processes, expert knowledge, and integrated cloud-based platforms. To learn more, visit www.highmarkhealth.org.