Oregon Blue Book: State Treasurer Ben Westlund

State Treasurer Ben Westlund

Bernard (Ben) J. Westlund II was born in Long Beach, California on September 3, 1949, and raised in Lake Oswego. He attended Whitman College in Walla Walla, Washington, graduating in 1972 with degrees in education and history. He worked as a business analyst in Portland before moving to Central Oregon, where he helped start a successful mining venture and then became a rancher and agribusinessman, selling cattle genetics through his company, High Country Herefords.

Westlund was elected to the Oregon House of Representatives as a Republican in 1996, serving until 2003. He was a state senator from 2003 to 2008 and switched parties to Democratic in 2006. He was elected State Treasurer in 2008.

As a legislator, Westlund oversaw the state budget as co-chairman of the Joint Ways and Means Committee during a deep recession and was a leading voice for fiscal reform, including creation of the School Stability Fund and state rainy day fund, which improved Oregon's bond rating and saved tax dollars. He also pushed for financial literacy, mortgage industry reforms, health care reform and helped create and expand the Oregon College Savings Network, which allows tax-free savings for college. Westlund championed innovatative ways to improve Oregonians’ lives, such as developing tax credits to bolster renewable energy development and the Domestic Partnership registry, and creating the Oregon Cultural Trust and the Public Safety Memorial Fund.

Westlund and his wife, Libby, live near Bend. They have two children.

State Treasurer Ben Westlund
159 State Capitol, 900 Court St. NE, Salem 97301-4043; 503-378-4329

Ben Westlund, Bend; Democrat; elected 2008; term expires January 2013. The state treasurer is a constitutional officer and a statewide elected official. The treasurer serves a four-year term and, if reelected, can hold office for two terms.

The treasurer serves as the chief financial officer for the state and is responsible for the prudent financial management of billions of taxpayer dollars. The treasurer also serves as the state’s chief investment officer, and has the duty of investing the moneys of the Public Employees Retirement Fund, the State Accident Insurance Fund, the Common School Fund and numerous smaller funds.

The treasurer serves on a variety of state financial boards and on the State Land Board which has a fiduciary duty to manage state trust lands for the benefit of the Common School Fund.

Over the years, the Office of the State Treasurer has evolved into a highly sophisticated organization with a wide range of financial responsibilities, including managing the investment of state funds, issuing state bonds, serving as the central bank for state agencies and administering the Oregon 529 College Savings Network.

The treasurer manages a portfolio of approximately $68 billion, with investments ranging from common stock, bonds, and real estate to alternative equity investments, foreign stocks, and U.S. Treasuries.

Office of the State Treasurer