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Senate committee favorably recommends Scott Kellner to Utah State Money Management Council
Summary
The Senate Business, Labor and Confirmation Committee unanimously recommended Scott Kellner to the full Senate for the State Money Management Council. Nominee Scott Kellner highlighted his institutional investment credentials and pledged to safeguard public funds; endorsers noted the Council oversees billions in state investments.
Senator Evan Vickers introduced the nomination of Scott Kellner on Aug. 18 and asked Kellner to summarize his qualifications for the State Money Management Council.
Kellner, a portfolio manager at Zions Bank, said he has 14 years in wealth and institutional investment management, holds Chartered Financial Analyst and Chartered Alternative Investment Analyst designations, and has worked with institutional and private clients in Utah. "I will approach it with a deep respect for the public trust," he told the committee, citing values of community, integrity, stewardship and fiscal responsibility.
Committee members asked about public financial literacy and outreach. Kellner said he was not fully certain of the council—s past role in promoting financial literacy but said he would welcome opportunities to support education efforts where appropriate and where the council—s remit allows.
Public supporters appeared for the nomination. Robert Spendlove, representing Zions Bank, told the committee Kellner has the right experience and temperament to advise on the investment of the public-treasure investment fund; he said the council oversees about $30,000,000,000 in state funds. Former state representative Scott Howell also offered a character endorsement.
Action: Senator Escamilla moved to favorably recommend the nomination to the full Senate; the committee recorded a unanimous favorable recommendation (6-0).
Discussion versus decision: committee questioning about outreach and financial literacy constituted discussion; the formal motion and recorded unanimous recommendation constituted the committee—s decision to forward the nomination.
Ending: Kellner and his family were thanked for attending; the committee noted the nomination will proceed to the full Senate for confirmation consideration.
