Laguna Beach Treasurer Laura Parisi was appointed by state Treasurer Bill Lockyer to a two-year term on the Local Agency Investment board, which provides oversight of a $18.9 billion fund.
The fund’s 2,604 participants include Laguna Beach and other cities and special district. The fund provides participants in-house investment management expertise at no additional cost.
Two of the five board seats are designated for participant members such as Laguna.
In a letter last month announcing the appointment, Lockyer said Parisi’s “demonstrated skill and extensive experience will be welcome assets in helping the board guide the management of the Local Agency Investment fund.”
Michelle Durgy, president of the California Municipal Treasurers’ Association, also congratulated Parisi on her appointment, says a statement issued by the city.
Parisi, elected to the local post in 1999, currently serves as vice chair of the county treasurer’s oversight committee and will chair the group next year.