The treasurer for Syracuse University announced her retirement from the university, effective Sept. 15, after 38 years of service.

As treasurer for 23 years, Barbara Wells’ duties included overseeing SU’s $1.3 billion of cash and long-term investments, as well as the $378 million debt portfolio, according to an Aug. 2 SU News release. Before becoming treasurer, she worked in the university’s Comptroller’s Office and the Office of Budget and Planning.

“Barbara has provided many decades of excellent leadership and management in achieving continuous substantial and significant improvements in her areas of responsibility,” said Lou Marcoccia, SU’s chief financial officer, in the release. “Her many accomplishments have greatly benefited the University, especially in terms of continuous improvement and best practices in the management of cash, investments and debt.”

David Smith will replace Wells as University Treasure starting Sept. 16. Smith, who earned a master in business administration at SU, has a background in higher education and capital markets. He also has expertise in investment strategies and asset classes, according to the release. He is currently a partner at Bay Hills Capital Management in San Francisco.