Treasurer Rob McCord
State Treasurer Rob McCord brings two decades of experience and expertise as an independent business leader to the office of the Pennsylvania Treasury.
As treasurer, McCord has used his energy and experience to 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.
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 independent department – even before counting profits from Treasury’s investments.
McCord has also led a record-breaking turnaround in investments in one of the most challenging markets in history. Under his leadership, Treasury generated historically strong investment returns and more than $1.4 billion for the state, and McCord helped generate many billions more in returns for the state’s two large pension funds.
Significantly, McCord also repaired the billion-dollar PA 529 Guaranteed Savings Plan, taking it from 70 percent to 97 percent funded in three years by using an investment approach that actually reduced volatility and risk while improving returns.
Prior to being elected treasurer, McCord managed more than one billion dollars in assets and raised money for young companies that created more than 1,900 jobs in Pennsylvania. In his role as state treasurer, he has continued to help create high-paying jobs for hard-working Pennsylvanians.
During his decades of work as an independent business leader, McCord helped run a variety of venture capital operations, including a publicly traded company, a successful seed fund, and a family of three venture funds that invested in early-stage life-science and information technology firms.
McCord also served as the long-time leader of the Eastern Technology Council, a successful trade association that served more than 800 innovative companies. This broad business experience helped McCord understand job-creation, and it helped him spur innovation and success in the McCord Treasury.
As state 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 millions in misguided spending. He has also made sure that the Pennsylvania pension funds are invested in safe, secure assets, so that seniors will not have to worry about losing their pensions to irresponsible investments.
McCord’s academic work also prepared him for his role as state treasurer. He studied economics as an undergraduate at Harvard, graduating with high honors, and he earned his MBA from the University of Pennsylvania’s distinguished Wharton Business School.
McCord currently 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.