State Treasurer Rob McCord brings two decades of experience and expertise as an independent business leader to the Pennsylvania Treasury.
Now in his second term following re-election in 2012, McCord has used his energy and experience to help guide the state through one of the most difficult economic periods in history. His common sense leadership has resulted in an impressive turnaround in the treasurer’s office, thereby helping retirees, students, and Pennsylvania taxpayers.
Treasurer McCord has innovatively streamlined operations, cut costs, and dramatically improved productivity to manage the agency as a “profit center” for the Commonwealth, generating four times more money than it costs to run the department – even before counting profits from Treasury’s record-breaking investments. Under his leadership, Treasury generated historically strong investment returns and more than $1.6 billion for the state, and Treasurer McCord helped generate many billions more in returns for the state’s two large pension funds.
Significantly, the McCord Treasury brought peace of mind to families saving responsibly for the cost of higher education by repairing the PA 529 Guaranteed Savings Plan. Treasurer McCord took the plan from 70 percent to 100 percent funded in four years by using a well-diversified, prudently managed investment approach.
Treasurer McCord is also stopping wasteful state spending. Using fresh innovations, McCord led Treasury’s fiscal review operations to higher levels of efficiency — and helped halt hundreds of millions in misguided spending.
Prior to his election, Treasurer McCord managed more than $1 billion in assets and raised money for young companies that created more than 2,000 jobs in Pennsylvania. He also served as the long-time leader of the Eastern Technology Council, a successful trade association that served more than 800 innovative companies. In his role as treasurer, he has continued to help create high-paying jobs for hard-working Pennsylvanians.
Treasurer McCord studied economics at Harvard, where he graduated with high honors, and he earned his MBA from the University of Pennsylvania’s Wharton Business School.
The Treasurer lives in Montgomery County with his wife and two sons, less than a mile from the house where he and his brother were raised by their single mother.