In commemoration of its 50th year serving local government employees, the Pennsylvania Municipal Retirement System (PMRS) Board of Trustees has announced the appointment of Timothy Reese as Secretary. Tasked with managing over $3 billion across 1,100 pension plans for 18,000 municipal employees in the state, PMRS plays a significant role in the retirement landscape.
Timothy Reese assumes the role of Secretary, marking the fourth appointment in this capacity over the past fifty years. With a wealth of experience, including his tenure as Pennsylvania State Treasurer, Reese brings three decades of expertise in senior management, operations, and institutional finance within the public treasury, pension administration, and investment sectors. His career reflects a dedication to modernizing outdated systems and empowering talent.
Before taking the helm at PMRS, Reese served as the founder and CEO of Forge Intellectual Capital, a firm specializing in providing strategic advice to managers, asset gatherers, and CFOs in the private and public finance industry. From 2015 to 2017, he held the position of Treasurer of the Commonwealth of Pennsylvania, overseeing a $20 billion investment portfolio and fiduciary responsibility for over $110 billion in state assets. Under his leadership, assets under management increased by over $2 billion, and he introduced initiatives such as an emerging manager and impact investment program with a total committed capital of $700 million.
With a career spanning 21 years as a principal investor and operator in venture and private equity companies, Reese demonstrated his acumen by building the sales and operations of three North America-based companies in the lower and middle markets. These companies were later acquired or rolled up by prominent entities such as CDW, Red Hat, and AEP Networks.
Dedicated to advancing opportunities for minorities, Reese has actively supported causes that broaden financial access, including the establishment of the Minority Angel Investors Network (MAIN), which provided early-stage capital to minority-, women-, and veteran-owned startups.
Timothy Reese holds a B.S. in Electrical and Electronics Engineering from Temple University and has been recognized as a Fellow at the Temple University Fox School of Business. He holds FINRA licenses Series 7, 79, 52, and 63, showcasing his comprehensive qualifications in financial services.