Bank executive is new president of UW Board of Regents

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Regent Michael Falbo of Franklin was elected president of the University of Wisconsin System Board of Regents today, and Regent Regina Millner of Madison was elected to serve as vice president of the board.

First appointed to the board in 2004, Falbo served as vice president for the past year. He succeeds Regent Brent Smith in the top leadership post. Following the election, which took place at the University of Wisconsin-Milwaukee, Falbo told fellow Regents about his ideas for developing a new strategic plan for the board.

“I would like us to become even more engaged and effective in supporting the work of our chancellors, and the colleges, universities, and extension networks they lead, and help them achieve their goals. That is what our System is all about — the educational opportunities, graduates, jobs, and economic impact of our campuses. We need to keep them up front in our thinking, and we must be driven by their goals,” Falbo said.

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Falbo previously chaired the board’s Business, Finance and Audit Committee. He also chaired the Legislature’s Special Task Force on UW Restructuring and Operational Flexibilities. He is the former chairman and chief executive officer of State Financial Services Corp. The company was the fifth-largest bank holding company in Wisconsin and was acquired in 2005 by Associated Banc-Corp of Green Bay, where Falbo took on the role of chairman of Associated Community Development, LLC.

Falbo is an alumnus of the Graduate School of Banking at UW-Madison. He earned his undergraduate degree at UW-Parkside. He is a director for the Thurgood Marshall Scholarship Fund and serves on the advisory board for the Alverno College School of Business. He is a veteran of the United States Army, having served as a medic in Vietnam.

Millner has served on the board since 2012. Her career in commercial real estate as a lawyer, consultant, appraiser and broker spans more than 30 years. She has chaired boards of numerous organizations including Meriter Hospital and Meriter Health Services, the Wisconsin Alumni Association, and the Rotary Club of Madison. She currently sits on the UW-Madison Athletic Board, and the Chazen Art Museum Council.

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Millner earned her law degree and a master of science in real estate and urban land economics from UW-Madison, after completing an undergraduate degree in education from the University of Nebraska-Lincoln.

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