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Wolf makes pick for treasurer

Venture capitalist nominated for post

HARRISBURG — Gov. Tom Wolf’s nominee to complete the state treasurer’s term said Tuesday that he has worked in various ways to try to boost the entrepreneurial fortunes of others amid a successful business career in which he evolved from engineer to venture capitalist.

Wolf’s announcement that he is nominating Tim Reese, a venture capitalist from the Philadelphia suburb of Glenside, comes two months after Treasurer Rob McCord revealed he was resigning and pleading guilty to federal extortion charges.

Reese, the managing partner in the Ambler-based venture capital firm Forge Intellectual Capital, said he does not plan to run for the office in the November 2016 election. But he said he feels he can leave his mark in the 20 months or so he might be in the office. He has not previously held public office.

“I still think there’s an opportunity to come and help provide some stability, to look at the programs and help put my footprint (on it) though this period of time in the department,” Reese said in an interview.

Wolf called Reese “a proven leader with a diverse financial background.” If confirmed, Reese would become the first African-American to serve as Pennsylvania treasurer, according to the Wolf administration.

He needs confirmation from two-thirds of the Republican-controlled state Senate to become treasurer.

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