Reid Hansen testifies for reappointment to Treasurer’s Investment Advisory Board; no confirmation vote held

Reid Hansen told the Idaho Senate State Affairs Committee that he seeks reappointment to the Treasurer’s Investment Advisory Board and praised the treasurer’s office for professional management of state funds.

Hansen, who said he has lived in Boise for 42 years and described himself as an Idaho native with “multiple businesses” and a large family, said he has been “very pleased to be on the treasurer’s investment advisory board.” He said the board’s role is oversight rather than day-to-day decision-making and that he has been “eye opening” about the “professional and diligent” work of the treasurer’s staff. “Idaho consistently has been in the top 25 percentile of effectiveness…on the return on invested capital,” Hansen said.

Senators asked Hansen about how volatility in markets and recent interest-rate movements have affected the advisory board’s work. Hansen replied the board’s role is largely to ensure Treasury staff achieve “the best return of our invested capital” and said his principal concern going forward is “maintaining the situation we’re in now with inflation being managed and the funds…being invested at the best possible return on investment.”

Committee leadership told Hansen they will vote on his confirmation and sending his appointment to the Senate floor at a future meeting; no committee vote took place during the hearing.

Hansen concluded his remarks with thanks to the committee. The record shows the committee did not take formal action on his appointment during this session.