Catholic Financial Life Moves Forward in its Generational Leadership Transition

MILWAUKEE (Jan. 6, 2022) – John Borgen has been promoted from his current role as President to President and CEO of Catholic Financial Life. His promotion is the next step in a generational leadership transition that began Jan. 1, 2021, when the Board of Directors named Borgen President while Bill O’Toole remained CEO as part of a one-year transition.

Borgen held a series of ascending positions with increased responsibilities since joining Catholic Financial Life in 2009. From the time he started with Catholic Financial Life, Borgen has looked to Bill O’Toole as his professional and personal mentor.

“Bill stabilized the organization, established record financial strength, reinvigorated our faith-based and charitable mission and laid the foundation for Catholic Financial Life’s growth and expansion,” said Borgen. “As his successor, I intend to build on that foundation by helping more families enjoy financially secure, purposeful lives. I am ready for this opportunity because of the personal investment that Bill made in my professional development.”

This leadership transition is one of several changes in Catholic Financial Life’s evolution and growth. In tandem with its generational succession plan, Catholic Financial Life has listed its downtown building for sale with real estate broker Berkadia. Organizational leaders have conducted significant research and determined now is the right time to list the building, considering today’s robust real estate market and evolving office space needs.

“Listing the building comes at an opportune time as John becomes President and CEO, and I am confident that he will provide sound leadership during the process,” said former CEO Bill O’Toole, who remains on the organization’s Board of Directors. “John sees the way that our business is changing, the way the world of work is changing, and is positioning the organization to take advantage of opportunities a new headquarters will provide.”

Under Borgen’s leadership as President and CEO, Catholic Financial Life will continue to support the parishes, schools and communities in which its members live and work. The organization is committed to its “dual bottom line,” which is focused on both financial performance and making a difference in the communities the company serves. As a member-owned organization, Catholic Financial Life’s longevity and success are a result of being a trusted financial partner.

By remaining true to its faith-based roots as a force for good in local communities while modernizing solutions for middle-market families, Catholic Financial Life is poised for significant future growth under Borgen’s leadership. In early December 2021, Kroll Bond Rating Agency (KBRA) affirmed the organization’s A- financial strength rating and upgraded it to a positive outlook.

“We serve the hard-working families of Main Street USA. We are committed to protecting their financial futures and helping them to realize their version of the American dream,” said Borgen.

Borgen, 42, earned a master’s degree in business administration at Marquette University, a master’s degree in philanthropy at Indiana University and a bachelor’s degree in political science at St. John’s University.

Borgen and his wife, Katie, reside in Richfield with their three sons.

For more information about Catholic Financial Life, visit catholicfinanciallife.org.

ABOUT CATHOLIC FINANCIAL LIFE
Through services including life insurance, retirement planning, education savings and more, Catholic Financial Life has been helping its members protect their financial lives for more than 150 years. With assets of $1.7 billion and members across the United States, Catholic Financial Life’s strength comes from being a different kind of financial community. It has been recognized by the Milwaukee Journal Sentinel as a Top Workplace eight years in a row. For more information about Catholic Financial Life, visit www.catholicfinanciallife.org.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. It has not been verified for its accuracy or completeness.