Selectman Jim MacDonald Named Second-In-Charge at Treasurer's Office
Jim MacDonald was appointed first deputy treasurer by Treasurer Steven Grossman effective Dec. 1.
The Office of the State Treasurer announced Tuesday that Dedham selectman Jim MacDonald will become second-in-charge under Treasurer Steven Grossman as of Dec. 1.
MacDonald, a 36-year veteran of the state office, will succeed Katherine Craven.
"Over the past nine months, Jim’s hands-on management style, deep understanding of public policy matters, and wise counsel have been critical components on a number of key Treasury accomplishments, such as the Small Business Banking Partnership and the recent decision by Standard and Poor’s to upgrade the Commonwealth’s credit rating," Grossman said in a statement.
MacDonald currently serves as deputy treasurer for investment operations, where he manages:
- daily clearing of the Commonwealth’s bank accounts
- short-term investing in the Massachusetts Municipal Depositary Trust
- the Small Business Banking Partnership
- reconciliation of bank accounts and fund activity.
As Deputy Treasurer, he oversaw the effort to competitively bid the Treasury’s core banking services, saving the Commonwealth approximately $915,000 a year. He will continue to perform these duties as first deputy treasurer.
"Our significant achievements during the past nine months are a clear indication of the exciting plans and initiatives we will accomplish in the future, and I look forward to being an integral part of this team," said MacDonald.