Gov. Gary R. Herbert has announced his appointment of 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. “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,” said Damschen. “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.”
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).