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.