SALT LAKE CITY — Gov. Gary R. Herbert has appointed David Damschen as the new Utah state treasurer. Damschen will fill the remaining term of Richard Ellis, who stepped down to pursue another career opportunity.
“David epitomizes our fiscal conservative approach to government,” Gov. Herbert said in his announcement Friday. “I have full confidence that his vision, knowledge and experience will continue to lead the Utah team to maintain our strong fiscal health and Triple-A Bond rating.”
As the state treasurer, Damschen will be responsible for the management of taxpayer dollars as the state’s chief financial officer. He will oversee the collection, safeguarding, investment and disbursement of state funds. The state treasurer implements and operates numerous investment programs including the Public Treasurer’s Investment Fund and the Permanent School Fund. In addition, Damschen will issue all debt obligations authorized on behalf of the state of Utah.
“I am humbled by this opportunity to serve Utah and its residents,” Damschen said. “I understand the importance of this position and look forward to providing a fresh perspective to some of the critical issues Utah will face in the near future.”
Attorney General Sean Reyes also issued a statement Friday congratulating David Damschen on his appointment. Reyes said:
Managing the hard-earned taxpayer dollars of our citizens as the state’s chief financial officer is critical to keeping Utah safe and strong. David’s extensive experience in both the private and public sector, combined with a solid, fiscally conservative approach and dedication to public service, make him a fine choice. Our office looks forward to continuing to work with David and congratulates him and his family on this appointment.
We also salute all of the finalists for this position and their families for being willing to serve our state. Given the impressive qualifications of those who weren’t selected, it speaks to the governor’s confidence in David Damschen.
Prior to this appointment, Damschen served as chief deputy to the office of the Utah State Treasurer for six years (2009-present). He has also served as the senior vice president and director of AmericanWest Bank (2007-2009) and vice president of institutional trust and custody at U.S. Bank (2005-2007).