During his eight years in office, California State Treasurer Phil Angelides transformed the Treasurer's office into a force for progress in California and across the nation. From the day he was sworn in, he made "the sleepy treasurer's office a policy powerhouse," the Associated Press reported, putting billions of dollars to work in innovative ways that made a difference in the lives of Californians and in the economy of the state and nation. He demonstrated that capital, invested wisely, could create both strong financial returns and good results for society.
Treasurer Angelides mobilized pension funds and investors across the nation to end corporate abuses, expand shareholder rights, protect life savings, and end human rights violations – ushering in a new era of corporate responsibility and shareholder activism. He launched a ground-breaking investment initiative to create jobs, housing, and opportunities in inner cities and underserved communities which had been historically overlooked by financial institutions – catalyzing a wave of re-investment, by public pension funds and private investors, in urban centers across the country. He put the weight of the state’s pension funds behind investments in environmental technology and the fight against global warming – seeding the “green-tech” investment revolution that is now taking hold across the nation and the world. And, he was the first statewide elected official in more than three decades to call for a renewed commitment to investing in California’s infrastructure -- laying the foundation for a new wave of investment to bolster California’s long- term economic prosperity.
During his two terms in office, Treasurer Angelides lived up to his inaugural pledge to use money “for good purpose,” standing up for fiscal responsibility, earning positive returns for taxpayers, and investing to broaden economic opportunity, improve education, and protect the environment. He harnessed billions of dollars as a force for good without a cost to taxpayers, while reducing the size of the Treasurer’s office staff by 9 percent.
Treasurer Angelides’ record won widespread praise and recognition. The Los Angeles Times called Angelides “the Energizer bunny of state government,” the Sacramento Bee praised Treasurer Angelides as “the most effective and dynamic state treasurer in a generation.” And he received numerous awards for his work, including the National Inner City Leadership Award from the Initiative for a Competitive Inner City; the California League of Conservation Voters’ Environmental Leadership Award; and the Congress for the New Urbanism’s Lifetime Achievement Award.
Download the full report (236 kb pdf)
