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Local Agency Investment Fund


2021 LAIF Webinar Speakers


 Keynote Speaker

Fiona Ma, CPA

Fiona Ma, CPA
State Treasurer

Fiona Ma is California’s 34th State Treasurer. She was elected on November 6, 2018 with more votes (7,825,587) than any other candidate for treasurer in the state's history. She is the first woman of color and the first woman Certified Public Accountant (CPA) elected to the position. The State Treasurer’s Office was created in the California Constitution in 1849. It provides financing for schools, roads, housing, recycling and waste management, hospitals, public facilities, and other crucial infrastructure projects that better the lives of residents. California is the world’s fifth-largest economy and Treasurer Ma is the state’s primary banker. Her office processes more than $2 trillion in payments within a typical year. She provides transparency and oversight for the government’s investment portfolio and accounts, as well as for the state’s surplus funds. Treasurer Ma oversees an investment portfolio of more than $102 billion, approximately $20 billion of which are local government funds. She serves as agent for sale for all State bonds, and is trustee on over $100 billion of outstanding debt.



 Economic Outlook

Douglas C. Robinson

Douglas C. Robinson
Registered Principal/Branch Manager
RCM Robinson Capital Management LLC

Doug Robinson is the Principal of RCM Robinson Capital Management LLC, an SEC registered investment advisory and management firm specializing in institutional fixed income management and OPEB trust asset allocation strategies. A frequent guest speaker and long-time member of the California Municipal Treasurers Association, Doug also served as board member from 2015-2019 for the California State Treasurer's Office, Local Investment Advisor Board (LIAB), which provides oversight to the Local Agency Investment Fund (LAIF). He is also a Branch Manager and Registered Principal with Securities America. He received his Bachelor of Science degree in Economics from the University of Missouri-Columbia.

 

 PMIA/LAIF Information, Performance, and Outlook

Kristin Szakaly-Moore

Kristin Szakaly-Moore
Director of Investments
State Treasurer's Office

Kristin Szakaly-Moore has more than 25 years of experience working for the State of California in various capacities at the State Treasurer’s Office (STO), California Debt and Investment Advisory Commission (CDIAC) and Legislative Analyst’s Office. In January 2020, she was appointed as Director of Investments by State Treasurer Fiona Ma. As Director, she oversees the management of investments for the state’s Pooled Money Investment Account portfolio, which consists of state and local government deposits totaling over $100 billion. Prior to her appointment, she served as Treasury Manager in the STO Centralized Treasury and Securities Management Division (CTSMD) where she developed the long-range cash flow forecasts used by the Investment Division in planning investment strategies and managed staff overseeing the financial services and securities clearance functions of the State Treasury through which over $2 trillion flows through annually. Preceding her work in CTSMD, she served as Director of Policy Research and Acting Executive Director of CDIAC, where she managed and oversaw the development of numerous research products, educational seminars and reporting of data on state and local government debt issuance and public fund investments. In particular, she served as editor of CDIAC’s first Investment Primer and authored numerous articles on topical investment issues. She has extensive analytical experience having conducted research and developed revenue forecasting models throughout her career. She also has published journal articles on public finance topics and economic markets for pollution control.

Ms. Szakaly-Moore received an M.S. and Ph.D. in Social Sciences from Caltech and a B.A. in Economics from U.C. Berkeley.

 
Jeff Wurm

Jeff Wurm
Assistant Director of Investments
State Treasurer's Office

Jeff Wurm is the Assistant Director for the Investment Division. He has been working in the Treasurer’s Office for the past 20 years, the past 15 years in the Investment Division. Over his tenure in the Investment Division, he has been an Authorized Trader, the Time Deposit Program Manager and the Credit Manager for the PMIA.

Jeff began working at the Treasurer’s Office in the Securities Management Division where he cleared and settled the trades for the PMIA. He also worked in the Cash Management Division managing Vault Services and assisted with the long-range cash forecast.

Prior to starting his career at the State Treasurer's Office, Jeff spent two years at E*Trade Securities and two years at Franklin Templeton Investments. He earned his BS in Business Administration (Business Management) from California State University, Fresno.

 

Tracey Paine
Credit Manager/PMIB Administrator
State Treasurer's Office

Tracey Paine has 24 years of experience with the State Treasurer’s Office. As the PMIA Credit Manager for the last four years, Tracey monitors and evaluates the credit quality of the PMIA portfolio and all approved issuers. She also provides recommendations for new investment opportunities and is an authorized securities trader for the PMIA. In addition, Tracey is the Pooled Money Investment Board Administrator, responsible for providing oversight of the board.

Prior to this, Tracey managed the programs in the Securities Clearance Section for 20 years. She provided expertise in securities management programs, oversaw the clearance and settlement of trade operations for the investment, pledge and collateral operations and developed and implemented improved business processes across the Section.

Tracey earned her Bachelor of Science in Business Administration (Strategic Management) from California State University, Sacramento.

 

Christina Sarron
LAIF Administrator
State Treasurer's Office

Christina joined the Investments Division at the State Treasurer’s Office in July of 2019 as the Local Agency Investment Fund Administrator and is an authorized securities trader for the Pooled Money Investment Account (PMIA).

Prior to this, Christina worked for 23 years in the Public Finance Division of the State Treasurer’s Office and during that time developed and managed the State’s Investor Relations program and administered the State’s agent-for-sale obligations for various State agency and authority bond programs.