|37th Treasurer of Pennsylvania|
Assumed office |
July 1, 2015
|Preceded by||Christopher Craig (Acting)|
|Succeeded by||Joe Torsella (Elect)|
|Born||1963/1964 (age 52–53)|
|Alma mater||Temple University (BS)|
Tim Reese became the 37th Treasurer of the Commonwealth of Pennsylvania on June 26, 2015. He is the first African American to hold one of the three independent State Row Executive Offices and as Treasurer oversees a staff of approximately 360 employees. His powers and duties involve the receipt and disbursement of funds, as well as the deposit, investment, and safekeeping of monies and securities belonging to the Commonwealth.
Treasurer Reese serves as custodian of the funds for virtually all state agencies. These funds total more than $100 billion and include the unclaimed property program with approximately $2.3 billion and nearly $4 billion for PA 529 College Savings Program. Treasurer Reese is the chair of the Board of Finance and Revenue, which selects banks to serve as state depositories, sets interest rates paid on Commonwealth deposits, and hears and decides state tax appeals.
Prior to his appointment, Treasurer Reese ran multiple special situation investment firms that co-invested in the health care, pharmaceutical, and information technology sectors. His portfolio company investments averaged a multiple of invested capital of 2.8x. As a serial entrepreneur, he founded six companies – achieving an average return on investment of 7x in exits.
Increasingly interested in helping other entrepreneurs, Treasurer Reese helped launch the Minority Angel Investor Network, the first formal angel network focused on minority entrepreneurs in the information technology, life sciences or physical sciences in the mid-Atlantic region. He also founded the National Minority Angel Network, LLC to focus on financial literacy and investing for veterans, minorities, and women entrepreneurs.
He holds a B.S. in Electrical Engineering & Electronics Technology from Temple University and was a Fellow at Temple University Fox School of Business. Treasurer Reese currently serves on the Board of Advisors for the U.S. Securities and Exchange Commission.
He lives in Montgomery County with his wife and three sons. He is an independent politician.
- Governor Wolf Nominates Timothy A. Reese for Treasurer
- Langley, Karin (7 April 2015). "Wolf taps businessman Timothy Reese as state's next treasurer". Pittsburgh Post-Gazette. Retrieved 29 June 2015.
|Treasurer of Pennsylvania
| Succeeded by|