Tim Reese
| Timothy Reese | |
|---|---|
| 37th Treasurer of Pennsylvania | |
|
In office July 1, 2015 – January 17, 2017 |
|
| Governor | Tom Wolf |
| Preceded by | Christopher Craig (acting) |
| Succeeded by | Joe Torsella |
| Personal details | |
| Born | 1963/1964 (age 53–54) |
| Political party | Independent |
| Education | Temple University (BS) |
Tim Reese was the Treasurer of Pennsylvania from 2015 to 2017. He was succeeded by Joseph Torsella.
Reese holds a B.S. in Electrical Engineering & Electronics Technology from Temple University and was a Fellow at Temple University Fox School of Business.
As Treasurer of the Commonwealth of PA, Timothy Reese served as Chief Executive of the Treasury Department and oversaw an operating budget of more than $40 million and a staff of approximately 350 employees. His powers and duties involved the receipt and disbursement of funds, as well as the deposit, investments, and safekeeping of monies and securities belonging to the Commonwealth.
Such funds totaled almost $100 billion including $19 billion of direct investments, unclaimed property program with $2.3 billion in assets and the $4 billion PA 529 College Savings Program. Treasurer Reese served as 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.
Reese successfully executed a strategy to guide the State during a historic state budget crisis and avoided a financial shutdown of the state and also chaired the investment committee and led the re-allocation of over $1 billion in investments and implemented new investment strategies across equities, fixed income, and alternative managers. He Established a $500 million emerging managers program and also created $100 million impact investment portfolio in high-quality, securitized, fixed-income investments in Pennsylvania-based affordable housing, small business and infrastructure projects. He developed inaugural public-private partnership (P3) aimed at the Commonwealth’s one million small business, called the Small Business Initiative and also implemented Treasury University, an internal training program to institutionalize best practices and promote career growth for employees.
Reese began his career with Honeywell where he focused on applying innovative software solutions for the paper industry. Working with some of the world’s leading companies including Georgia Pacific, Scott Paper, and Weyerhaeuser, he was responsible for bringing new products and production capacity on-line. Progressively expanding on his technology base and capturing the launch of the technology era, Mr. Reese left Honeywell to work with series of new technology ventures from 1993 to 2015 that led to the merger or acquisition in the public and private markets for over $500 million. He progressively held the title and duties of manager of information systems, senior vice president, chief technology officer, chief finance officer, and chief executive officer during this time.
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