RALEIGH – Ron Elmer, a certified public account and professional money manager from Cary, announced his campaign for state Treasurer Friday. Elmer, a Democrat, says he will focus on his professional resume and experience.
“I’m not a politician. I don’t have a long political pedigree,” Elmer said in a statement released by his campaign. “I am a professional money manager and a certified public accountant who has managed billions of dollars in the equity and bond markets.”
Current state Treasurer Janet Cowell (D) announced earlier this month that she will not run for office in 2016, shocking many who considered her an up-and-coming Democratic politician.
Elmer pledged to save North Carolina taxpayers more than $100 million a year by stopping the practice of contracting out the management of the state’s stock portfolio. “I have the experience and background to bring into the treasurer’s office the management of our state’s stock portfolio. If we manage those funds, we can save the state money by avoiding paying management fees to fund managers on Wall Street,” said Elmer.
The State Treasurer manages more than $90 billion in investment funds for the State of North Carolina, including the State Employees & Teachers Retirement Fund, of which more than 900,000 North Carolinians are a member. The treasurer also administers the State Health Plan, the Local Government Commission, and the 401(k) and 457 plans for public employees. It also administers NC Cash, the state’s unclaimed property database.
Elmer holds a bachelor’s degree in finance from the University of Oklahoma and an MBA in finance and accounting from New York University, according to his campaign. He is a certified financial adviser in investment management and a certified financial planner.
“If you want an experienced money manager investing the state’s money then I want your support. If you want a politician as your next treasurer, I’m not your candidate,” Elmer said.