RALEIGH — Ron Elmer, a certified public account and professional money manager, announced his campaign for state treasurer. Elmer, a Democrat, said he will focus on his professional resume and experience.
“I’m not a politician. I don’t have a long political pedigree. I am a professional money manager and a certified public accountant who has managed billions of dollars in the equity and bond markets,” said Elmer.
Elmer pledged to save North Carolina taxpayers more than $100 million a year by stopping the practice of contracting out the management of the state’s stock portfolio. “I have the experience and background to bring into the Treasurer’s office the management of our state’s stock portfolio. If we manage those funds, we can save the state money by avoiding paying management fees to fund managers on Wall Street,” said Elmer.
“If you want an experienced money manager investing the state’s money then I want your support. If you want a politician as your next treasurer, I’m not your candidate.”
The state treasurer manages more than $90 billion in investment funds for the state of North Carolina including the State Employees & Teachers Retirement Fund, the State Health Plan and the Local Government Commission.
“I will bring a high level of experience in money management to this job. I will be innovating. I will be transparent. I will be accountable and responsive. I will work to manage our state’s funds in a manner that maximizes performance and provides tangible results and savings for our citizens,” said Elmer.
Elmer holds a BBA degree in finance from the University of Oklahoma and an MBA in Finance and Accounting from New York University. He’s earned the CFA designation in investment management, the CFP designation in financial planning and holds a CPA license in North Carolina.
Elmer formerly managed the Equity Division as vice president for First Citizens Bank where he managed $2 billion of the stock portfolio for the North Carolina Retirement System and was a bond analyst and vice president at BB&T. More recently Elmer was the director of Equity Research at NCM Capital Management, a Durham institutional investment manager specializing in the management of pension investments. An author of four books about investment management, Elmer has taught finance at Strayer University and NC State University where he annually coaches a team of MBA students in the CFA Institute’s Stock Research Challenge. He now owns his own tax and financial planning business in Cary where he lives with his wife and 11-year-old twins.