A respected business leader and entrepreneur, Rob McCord took office as the 45th Treasurer of the Commonwealth of Pennsylvania on January 20, 2009. As chief executive of the Pennsylvania Treasury Department, which currently has an annual budget of nearly $60 million and a staff of about 500 employees, McCord serves as statutory custodian of the funds of virtually all state agencies, which total nearly $86 billion.
Treasurer McCord has significant experience in the public and private sector, which offers him a unique outlook on business, government, and the problems facing many of us today. He works to strengthen Pennsylvania’s economy and improve the economic security of Commonwealth residents, particularly senior citizens and financially vulnerable citizens, during these challenging economic times. He recognizes the need to help Pennsylvania invest in long-term goals and will ensure that Commonwealth resources are hard at work securing our future.
Throughout his career, Treasurer McCord has fought for fiscal responsibility and has worked to improve public policy. Prior to his election as Treasurer, McCord founded the Eastern Technology Fund and served from 1998 to 2007 as co-founder and Managing Director of Pennsylvania Early Stage Partners – a family of venture funds that invested in early-stage life-science and information technology firms. From 1994 through 1998, McCord worked as a senior executive at Safeguard Scientifics, one of the first venture incubators of its kind, where he helped Safeguard earn an annual return on capital of more than 50% per year.
In addition to his work as a venture capitalist, from 1996 through 2007, Treasurer McCord led the Eastern Technology Council, a successful trade association that continues to serve hundreds of fast-growing and innovative companies. He spent nearly a decade working on Capitol Hill, where he specialized in budget and technology issues. Treasurer McCord also served as the CEO of the bipartisan Congressional Institute for the Future, a think tank co-founded by former U.S. Senators Al Gore and John Heinz.
Treasurer McCord completed his undergraduate studies in Economics and History at Harvard University and earned his MBA from the University of Pennsylvania’s Wharton School. He lives in Montgomery County with his wife, Leigh Jackson and their two sons, Grant and Jack.