Gov. Cox names Marlo Oaks as new state treasurer

Gov. Spencer J. Cox has appointed Marlo M. Oaks as treasurer for the state of Utah. He replaces David Damschen, who recently resigned to take a position in the nonprofit sector. 

“Marlo’s broad experience in investment banking, risk management and portfolio oversight makes him an excellent choice as custodian of public funds,” said Gov. Cox. “I’m also impressed with his involvement in two nonprofits and Utah Valley University. I commend his desire to serve the public in this new capacity.”

Oaks is currently managing director at Crewe Capital, an investment banking firm based in Salt Lake City. Before that, he spent nearly 18 years overseeing multi-billion-dollar portfolios as an allocator, first at Farmers Insurance Group in Los Angeles and then at Intermountain Healthcare in Salt Lake City. He has experience managing foundation, endowment, healthcare/hospital system, insurance, defined benefit, defined contribution, taxable and tax-exempt portfolios, including manager searches, due diligence, risk management, asset allocation, investment strategy, investment policies and guidelines, and reporting to senior executives and boards of investment committees.

As a volunteer, Oaks sits on the investment committee of the Utah Valley University endowment fund. He also cofounded two nonprofit organizations: the Stella H. Oaks Foundation, which provides educational scholarships to single moms; and FIRST Utah Robotics, a nonprofit that provides STEM sporting events throughout the state of Utah designed to inspire children K-12 to pursue STEM careers. He is a member of the CFA Society of Salt Lake City and the CAIA Association of San Francisco.

Oaks holds a bachelor’s degree in Economics from Brigham Young University and an MBA from the UCLA Anderson School of Business. He and his wife, Elaine, are the parents of six children and reside in Davis County.

Oaks will be up for election in November 2022.