Seth Magaziner

Seth Magaziner
General Treasurer of Rhode Island
Assumed office
January 6, 2015
Governor Gina Raimondo
Preceded by Gina Raimondo
Personal details
Born Seth Michael Magaziner
(1983-07-22) July 22, 1983
Bristol, Rhode Island, U.S.
Political party Democratic
Alma mater Brown University
Yale University
Website Official website

Seth Magaziner (born July 22, 1983) is an American investment professional and the General Treasurer of the State of Rhode Island.[1]

Early life and education

Magaziner is a native of Bristol, Rhode Island and the son of Bill Clinton policy advisor Ira Magaziner.[2] He graduated from Milton Academy in Milton, Massachusetts in 2002.[3] He then attended Brown University in Providence, Rhode Island, where he served as president of the Brown University Democrats, president of the College Democrats of Rhode Island and served on the Brown University Steering Committee on Slavery and Justice.[4][5]

Magaziner received a Master of Business Administration from the Yale School of Management, in New Haven, Connecticut.[4]

Career

Magaziner worked as Elementary School teacher at Creswell Elementary School in Hurricane Katrina ravaged Opelousas, Louisiana from 2006-2008, as a Teach for America Corps member.[1] In 2009, he worked as an associate at Point Judith Capital, a Rhode Island based venture capital firm.[4]

After graduate school, Magaziner went to work at Trillium Asset Management, a Boston, Massachusetts based socially responsible investment firm, as a vice president and lead analyst for energy, banking, and diversified financial sector investment.[4]

Rhode Island General Treasurer

On October 22, 2013, Magaziner announced his intention to run for Rhode Island General Treasurer in an online announcement video.[1] He won the Democratic nomination in the September 9 primary election, defeating former Treasurer Frank Caprio.[6] Magaziner was elected on in the November 2014 general election, defeating independent candidate Ernest A. Almonte.[7]

In his first months in office, Magaziner developed a plan to establish the Rhode Island Infrastructure Bank (RIIB[8]) to finance green infrastructure projects. The agency was created in June 2015[9] by the Rhode Island General Assembly. Magaziner also worked with the governor and the state legislature to establish tax-efficient savings accounts for Rhode Islanders with developmental and other disabilities.[10]

In June 2015, Magaziner launched a transparency initiative for the Employees’ Retirement System of Rhode Island (ERSRI) that former U.S. Securities and Exchange Chairman Arthur Levitt Jr. called a national model for public pension system transparency.[11]

In November 2015, Magaziner announced the selection of Ascensus College Savings and Invesco as the new managers of the CollegeBoundfund,[12] Rhode Island’s $7.4 billion 529 college savings program. The Treasurer’s Office also announced it was pursuing two class action lawsuits against fossil fuel industry companies BP and Plains All American [13] for oil spills that allegedly harmed investors and the environment.

In February 2016, Magaziner was selected to serve as the 2016 Chairman of the Financial Literacy Committee for the National Association of State Treasurers (NAST).[14]

Community service

Magaziner serves on the board of directors of Serve Rhode Island, which administers AmeriCorps programs in the state,[15] Crossroads Rhode Island, the state's leading homeless service organization,[16] and once served on the board of directors of Common Cause Rhode Island.[1]

Magaziner was active in the successful campaign for marriage equality in Rhode Island. He serves as a board member of Marriage Equality Rhode Island,[2][17] and served as treasurer of the pro-equality group and political action committee, Fight Back RI.[18][19]

Electoral history

Rhode Island General Treasurer Democratic Primary Election, 2014
Party Candidate Votes %
Democratic Seth Magaziner 80,378 66.5
Democratic Frank Caprio 40,402 33.5
Rhode Island General Treasurer Election, 2014
Party Candidate Votes %
Democratic Seth Magaziner 175,902 57.1
Independent Ernest Almonte 131,423 42.7
Write-ins Write-ins 588 0.2

References

  1. 1 2 3 4
  2. 1 2 Donnis, Ian. "Seth Magaziner considering a run for Treasurer in 2014", RIPR, 16 May 2013.
  3. ↑ "Class of 2002 10th Reunion", Milton Academy, accessed 29 January 2014.
  4. 1 2 3 4 Lamb, Katherine. "Magaziner '06 to run for R.I. general treasurer", The Brown Daily Herald, 24 October 2014.
  5. ↑ Jones, Brian C. "Young voters on the move", The Providence Phoenix, October 29 - November 4, 2004.
  6. ↑
  7. ↑
  8. ↑ http://newsletter.convergenceri.com/stories/Innovative-financing-undergirds-new-RI-Infrastructure-Bank,1506
  9. ↑ http://www.ricwfa.com/
  10. ↑ http://www.rifuture.org/able-act-gives-disabled-children-funds-for-their-future.html
  11. ↑ http://www.pionline.com/article/20150629/PRINT/306299974/rhode-island-takes-transparency-to-new-level
  12. ↑ http://www.providencejournal.com/article/20151118/NEWS/151119243
  13. ↑ http://www.pionline.com/article/20151113/ONLINE/151119925/rhode-island-ers-leads-class-action-lawsuits-against-bp-plains-all-american
  14. ↑ http://turnto10.com/news/local/ri-state-treasurer-to-promote-financial-literacy-nationwide
  15. ↑ "Serve RI - Board, Serve Rhode Island, accessed 28 January 2014.
  16. ↑ "Board of Directors", Crossroads Rhode Island, accessed 28 January 2014.
  17. ↑ Jones, Brian C. "The campaign to legalize same-sex marriage in RI", Providence Journal.
  18. ↑ "State of Rhode island and state plantations" (PDF). Retrieved 5 March 2014.
  19. ↑ Filing Amendment for MERI PAC, Rhode Island Board of Elections, accessed 29 January 2014.
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