Treasurer Ken Miller Wednesday announced the appointment of Rep. Randy McDaniel to the State Treasurer’s Investment Advisory Committee.
The committee, formed by Miller in early 2011, is composed of financial and investment experts who advise the treasurer’s office on maximizing investment returns on the more than $5 billion portfolio under his control.
“With more than two decades of investment experience as a banker and financial advisor, I trust Randy and know he will be an important voice on the advisory committee,” Miller said.
McDaniel, who serves as chair emeritus of the House Banking and Business Committee, said he is looking forward to serving on the panel.
“I am honored by this appointment and believe it is critical that taxpayer funds are well managed,” McDaniel said. “I look forward to the opportunity to serve in this capacity.”
The advisory committee, while not established in state law, serves an important role in helping the office manage the portfolio, which is invested until the funds are needed to pay state obligations.
The committee meets every three months, is chaired by former State Treasurer Scott Meacham and includes investment experts from banking, a private nonprofit foundation and a public pension fund.
It could be a good learning experience for McDaniel. He announced his candidacy for treasurer last summer.
