[Alaska] Governor Sarah Palin [on June 15, 2009] appointed former Alaska Senator Steven A. Rieger to the Alaska Permanent Fund Corporation Board of Trustees (Permanent Fund, 2009, ¶1).
“It is a pleasure to have a man with Steve Rieger’s broad experience, impressive credentials and statesmanlike temperament as the newest Permanent Fund trustee,” Governor Palin said. “I have every confidence that Steve’s addition to the board will help continue its strong record of prudent management of Alaskans’ most important financial institution” (Permanent Fund, 2009, ¶2)
About the Alaska Permanent Fund Corporation
The six-member board is responsible for overseeing corporate operations and setting investment policy for the Permanent Fund, established by state constitutional amendment in 1976 to save a portion of state mineral revenue. The Fund’s investments are currently valued at nearly $31 billion in value, and generate annual dividends for qualified Alaskans (Permanent Fund, 2009, ¶3).
Biography of Former Alaska Senator Steve Reiger
Rieger, who grew up in Palmer, currently operates his own management and finance consulting businesses in Anchorage, and is a state-registered investment adviser. After working in Seattle for Crowley Maritime Corporation after college from 1976-79, he joined the Seattle-Northwest Securities Corporation, then moved to Alaska with the firm in 1980 (Permanent Fund, 2009, ¶4).
Starting in 1985, Rieger served three terms in the Alaska House of Representatives and one in the Senate, representing south Anchorage. A member of both House and Senate finance committees, his extensive legislative experience included the state operating and capital budgets, economics, banking, and the Permanent Fund. As a legislative staffer before his election, Rieger helped develop the legislation establishing the Alaska Permanent Fund Corporation, and worked with Wall Street firms regarding its investment guidelines and governance (Permanent Fund, 2009, ¶5).
He has served on the Municipality of Anchorage’s Salaries and Emoluments Commission since 2008, and on the University of Alaska Anchorage’s Chancellor’s Advisory Committee since 2001. Rieger earned a bachelor’s degree in economics from Harvard University, and a master’s degree in business administration from Harvard’s Graduate School of Business Administration (Permanent Fund, 2009, ¶6).
Commentary
Governor Palin has made 67 appointments and re-appointments this year, including two judicial appointments and one state senate appointment. In the 166 days that have passed this year, she has averaged one appointment every two and one half days.
References
Governor appoints Permanent Fund trustee. (2009, June 15). State of Alaska, Governor. Retrieved June 16, 2009 from: http://www.gov.state.ak.us/news.php?id=1902
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