# 1211: Mission, Means, and the Will to Grow | Jonathan Ma, CFO, Sutter Health

Page: https://stenobird.com/podcast/cfo-thought-leader-495494/1211-mission-means-and-the-will-to-grow-jonathan-ma-cfo-sutter-health
Text version: https://stenobird.com/podcast/cfo-thought-leader-495494/1211-mission-means-and-the-will-to-grow-jonathan-ma-cfo-sutter-health.md
Podcast: [CFO THOUGHT LEADER](https://stenobird.com/podcast/cfo-thought-leader-495494)
Published: 2026-09-02T07:00:00+00:00
Episode link: https://cfo-thought-leader.captivate.fm/episode/1211-mission-means-and-the-will-to-grow-jonathan-ma-cfo-sutter-health
Audio file: https://episodes.captivate.fm/episode/b6200ff9-38de-4775-9b1a-0ed8ae9f6dc0.mp3
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Duration seconds: 2368

## Resource

Jonathan Ma recalls being at his parents’ home in Nebraska one Saturday when his Morgan Stanley boss called with advice: pursue an opportunity at Sutter Health. After nearly 15 years, the mentor believed the retiring treasurer’s position could be Ma’s next step. Ma tells us he had not considered the opportunity. Although he knew Sutter Health’s mission and some of its people, he says the call “planted” the seed. His mentor had seen something in him that he had not yet recognized. That moment echoed the way Ma describes his development at Morgan Stanley. He credits leaders in San Francisco and New York with teaching him to take his work seriously without taking himself too seriously. According to Ma, that meant remaining curious, asking questions, and admitting when he did not know an answer. Ma says trust arrived gradually rather than through a breakthrough. Clients gave him room to learn because they saw that he would work hard, uphold values and ethics, and protect their interests. He moved from mentoring interns to leading financings and presenting before boards. At Sutter Health, Ma applies that same emphasis on trust. He tells us finance must balance growth, expenses, and margins so the not-for-profit system can continue reinvesting in its communities. Budgets, he says, should represent shared accountability across the organization rather than a finance exercise. For Ma, leadership emerges incrementally: through questions asked, credibility earned, support accepted, and difficult decisions made while an organization still possesses both “the means” and “the will.”

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## Transcript

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