Chief Of Staff
CurrentOn behalf of elected State Treasurer Michael Frerichs manage a staff of over 170 employees in Chicago, Springfield and across Illinois. The State Treasurer’s Office (STO) has an approximately $60 million operational budget and a roughly $3 billion total budget. The STO invests a roughly $60 billion institutional investment portfolio and performs over $300 billion banking and financial services transactions.Major STO initiatives and programs under Treasurer Frerichs include:• Illinois Revised Uniform Unclaimed Property Act (ICash)• Bright Start and Bright Directions 529 College Savings programs• Secure Choice Program• Illinois ABLE (Achieving a Better Life Experience)• Illinois Funds & ePAY• Illinois Growth and Innovation Fund (IL-GIF)• Linked Deposit programs (including Ag-Invest, Finally Home, and Community Uplift Program)Led team that negotiated transfer of historic Marine State Bank building (the site where Abraham Lincoln banked) from JP Morgan Chase to the State of Illinois for $10.00, including drafting and lobbying for legislative authorization. Managed renovations of historic building to improve accessibility, energy efficiency, and operations.Led COOP (continuity of operations plan) during COVID-19 pandemic. Shifted over 90% of Treasurer's Office staff to remote work. Signed MOUs with labor unions to authorize change in job responsibilities to keep staff engaged and supervised during pandemic.Instituted reforms to Illinois' unclaimed property program that leveraged technology and led to a record $2 billion being returned to Illinois residents, businesses, and nonprofits during Treasurer Frerichs' time in office.