Norwalk, CT, June 24,
2014—The Financial Accounting Foundation (FAF) today appointed
Washington State investment official Gary H. Bruebaker to the FAF Board of
Trustees, effective July 1. Mr. Bruebaker currently is the chief investment
officer for the Washington State Investment Board in Olympia,
Washington.
The FAF is the independent, private-sector organization
responsible for the oversight of the Financial Accounting Standards Board (FASB)
and the Governmental Accounting Standards Board (GASB).
“The Board of
Trustees is pleased to welcome Gary as its newest member,” said FAF Chairman
Jeffrey J. Diermeier. “His extensive background in investment management and
oversight will add significant value to the Trustees as we work to support the
FASB and the GASB in establishing and improving financial reporting and
accounting standards. Gary’s experience in financial analysis and planning will
be an important asset to the Trustees’ Finance and Compensation Committee as it
oversees the financial aspects of the FAF.”
As the chief investment
officer for the Washington State Investment Board, Mr. Bruebaker is responsible
for the investment and management of the state’s assets. He establishes
investment policies and procedures designed exclusively to maximize investment
return at a prudent level of risk. Mr. Bruebaker also provides the Investment
Board with guidance in financial analysis; including asset allocation modeling,
investment risk and return parameters, strategic and tactical investment
strategies, and investment performance measurement.
Previously, Mr.
Bruebaker served as the deputy state treasurer for the Oregon State Treasury,
where he formulated and implemented policy, practices, and performance measures
for the financial infrastructure of the State of Oregon. While serving as the
deputy state treasurer, Mr. Bruebaker also served as a member of the Oregon
Short-Term Fund Board, the Oregon Municipal Debt Advisory Commission, and the
Private Activity Bond Committee.
A holder of the Chartered Financial
Analyst designation, Mr. Bruebaker received his MBA from the University of
Oregon and Bachelor of Science degree in Business with honors from Oregon State
University.
Mr. Bruebaker’s term on the FAF Board of Trustees extends to
December 31, 2018. He replaces John J. Brennan, whose term ends June 30. Mr.
Brennan, who currently serves as chairman emeritus of Vanguard, was appointed to
the FAF Board of Trustees in 2009. He served as the Board’s chairman from 2009
through 2012.
“On behalf of the FAF, I want to thank Jack Brennan for his
tireless and dedicated service both as chairman and as a Trustee,” said FAF
President and CEO Teresa S. Polley. “Under Jack’s leadership, we made
significant strides in improving the effectiveness and efficiency of the
Board.”
About the Financial Accounting Foundation
The FAF is responsible for the oversight, administration, and
finances of both the Financial Accounting Standards Board (FASB) and its
counterpart for state and local government, the Governmental Accounting
Standards Board (GASB). The Foundation is also responsible for selecting the
members of both Boards and their respective Advisory
Councils.