Soistman becomes new chair of prestigious TU board

A loyal Towson Tiger for 40+ years, ’79 alumnus and business exec adds another title to his impressive TU resume

By Ray Feldmann on September 22, 2016

Fran Soistman '79 has been a loyal Towson Tiger for almost as long as he can remember.

A two-sport athlete at nearby Parkville High School, Soistman recalls he fell in love with Towson University’s picturesque campus as soon as he saw it.

“Towson University felt like home,” Soistman said recently. “I never wanted to look elsewhere. I felt very fortunate to be at Towson.”

Soistman was back on campus once again Thursday evening as he formally became chair of the university’s prestigious Board of Visitors (BOV). The gavel was ceremoniously passed to him by Myrna Cardin, who had served as Board chair for the previous three-and-a-half years.

“I am honored to succeed Myrna in this role,” Soistman said prior to Thursday’s meeting. “She has been a highly effective leader and so selfless with her time. I have very large shoes to fill.”

Soistman knows something about leadership. He earned his bachelor’s degree in accounting and finance from TU in 1979, and later graduated from The Stanford University Executive Program.

Soistman credits both of those programs as the foundation for his impressive professional career in the health care industry. Now executive vice president of Aetna and president of the company’s government services segment, Soistman is responsible for driving growth in the company’s Medicare, Medicaid, individual and public exchange, and Federal employees health benefits business sectors, representing more than 50 percent of Aetna's revenues.

He was previously executive vice president, chief operating officer and co-founder of Jessamine Healthcare, a firm focused on strategic investment opportunities in the health care industry. He also held several leadership positions with Coventry Health Care, including executive vice president for the Individual Consumer and Government Business Division.

During those 15 years, Towson University always held a special place in Soistman’s heart. So when a member of the university’s Foundation Board contacted him in 1994 about supporting the university philanthropically, he didn’t have to think twice.

“Before then I never really thought about philanthropy,” he admitted. “So I made an anonymous gift, because I didn’t want the attention.”

Since Soistman’s first gift, his philanthropic support for the university has blossomed. He established the Francis S. Soistman Endowment for Top Ten Scholars in memory of his father, which defrays the educational expenses of economically disadvantaged students from Baltimore City and Baltimore County. The Endowment Fund for Faculty Excellence and the Fran Soistman and Family Endowment provide scholarship support to students in TU's College of Business and Economics.

In addition, when the university was fundraising to name its new stadium, Soistman offered the idea of soliciting donors to make a $19,000 contribution to honor the Baltimore Colts’ No. 19, Johnny Unitas, and he became the first to pledge and pay. Soistman also provided the lead gift to establish the Center Court Club for men’s basketball and took the lead in helping Athletics raise more than $150,000 in a few days to support the Tigers’ football team as it traveled to the Football Championship Series (FCS) playoffs in 2013-14.

“For me, gifting comes from the heart,” Soistman said. “I have gotten as much out of this, if not more, than the university has. When I received letters from the students who benefited, I realized that I could make a difference. That was humbling. Now I hope I can inspire others to give.”

Besides his generous philanthropy, Soistman’s strong relationship with Towson University has included a variety of volunteer roles, such as vice president of the TU Foundation Board and co-chair of the Athletics Advisory Board and the Athletics Solutions Committee. He also serves as a member of the University System of Maryland Chancellor’s Advisory Council, as well as the University System of Maryland Foundation Board of Directors.

Fran Soistman and Robert Caret at Commencement
Soistman received an honorary doctorate from TU during the Winter 2015 Commencement ceremony.

“I want to help our new president Kim Schatzel create a new vision for TU,” Soistman said Thursday as he assumed his new role as Board of Visitors chair. “I want to build on the tremendous foundation put in place by Myrna Cardin and take the board to the next level.

“I serve at the pleasure of the president,” he added. “This is her board. I simply want to be considered a trusted advisor. I want to help evolve the board’s effectiveness to support Kim.”

For her part, Schatzel is eager to work with the new BOV chair.

"I truly appreciate Myrna's leadership as chair, and I look forward to working with Fran and vice chair Don Fry," Schatzel said. "This is an exciting time for Towson University, and their leadership will be critical as we work together to move the university forward."

The Towson University Alumni Association recognized Soistman’s many professional and philanthropic achievements with its 2012 Distinguished Alumni Award. This past December, Soistman received an honorary degree of Doctor of Humane Letters from TU.

"I was truly honored by this recognition but was even more excited about the opportunity to deliver the commencement address, in hopes that I might be able to share some perspectives that will help the graduates as they begin their careers," Soistman said.