Current Local Investment Advisory Board (LIAB) Members
Fiona Ma, CPA
State Treasurer
Background: Ms. Fiona Ma was elected California State Treasurer in November 2018. She previously served as Chair and Vice Chair of the California State Board of Equalization from 2015 to 2019, representing more than nine million taxpayers. There, she led historic reforms to increase efficiency and transparency at the agency. As a state legislator, she was the first and only Asian-American woman ever elected California Assembly Speaker pro Tempore, the second-highest ranking office in the Assembly. During her time as a legislator, she passed landmark legislation to ban toxic chemicals in children’s toys, protect small business-owners and expand opportunities for homeowners. She previously served as a San Francisco Supervisor.
Phonxay Keokham
Treasurer-Tax Collector
San Joaquin County
Phonxay Keokham was elected Treasurer-Tax Collector of San Joaquin County on June 5, 2018. He is responsible for overseeing the County’s $6 billion investment portfolio. As the County’s Treasurer, Mr. Keokham is a trustee for the San Joaquin County Employees’ Retirement Association and is responsible for a $5 billion investment portfolio. He served as the President of the California Association of County Treasurer and Tax Collectors and has over 20 years of financial and treasury experience. He is veteran of the US Army and is a Life Member of the Veterans of Foreign Wars. While serving overseas he earned the coveted Expert Infantryman’s Badge and was honorably discharged after three years of service. Mr. Keokham is a CPA and earned his MBA from the California State University, Stanislaus.
Amy Lee
Founder of 3S LLC
Amy Lee is currently the founder of 3S LLC, a strategic consulting firm covering regulatory matters in areas of land use, finance and compliance. Prior to 2013, she has served for over 16 years for the City and County of San Francisco in various capacities in the Mayor’s Budget and Finance office, as the Assistant Director and Director of the SF Building Department and the Deputy Executive Director for the SF Redevelopment Agency and its successor, Office of Community Investments and Infrastructure. In that role, she invested and participated in the Local Agency Investment Fund and was the Vice President of the Private Investment Development Corporation, an auxiliary agency that invested with private real estate and economic development partners. Amy holds a Master’s Degree in Public Policy from Georgetown University and a juris doctor from Northeastern University School of Law. She was previously a member of the NY and MA Bars.
Rafi Manoukian
City Treasurer
City of Glendale
Rafi Manoukian was elected as the City of Glendale City Treasurer in 2013 and is currently serving in that capacity managing a portfolio of $800 million and the City’s cash flows. Prior to this position, Mr. Manoukian served as a Councilmember from 1999 to 2007 and from 2011 to 2013. He also served as Mayor of Glendale twice in 2002 and in 2005. Mr. Manoukian is a Veteran of the US Air force and has received the Air Force Commendation Medal. He is a CPA by profession, earned his Bachelor’s degree from Cal State Northridge in Economics and his MBA from Cal State Dominguez Hills. He has been married for 32 years to Zovig Manoukian and has three children Solene, Narek and Niary.
Yvonne Yiu
FINRA Arbitrator and Expert Witness
Yvonne has over 25 years experience in the financial industry including serving as a VP Regional Manager at Merrill Lynch, Branch Manager of E*Trade & VP at Citigold. She also founded and served as CEO of a FINRA broker-dealer for 10 years with over $1B AUM. Currently retired, Yvonne is working part-time as a FINRA Arbitrator and Expert Witness. As Mayor and Councilmember, she worked to balance the city’s budget, improve public safety, promote economic development. Yvonne demonstrated leadership by underwriting a $110 million pension obligation bond at a favorable 2.66% interest rate, resulting in significant savings of $55 million, while safeguarding public pensions. Yvonne attended UCLA BA in Economics in 3 years; MBA from LMU; CRCP Certified Regulatory & Compliance Professional from Wharton Business School & held FINRA Securities Licenses Series 3, 4, 7, 8, 9, 10, 24, 27, 53, 63, 65, & 99.