Appointment Draws Criticism
Cheyenne, Wy – Earlier this month the State Treasurer named a new Chief Investment Officer for Wyoming. Michael Walden Newman is set to take over the position November first.
This elicited a critical editorial in the Wyoming Tribune Eagle and Governor Freudenthal said he was unaware that Walden Newman had a background in investment.
State Treasurer, Cynthia Lummis, says she is now is using a team to oversee investments and she chose Walden Newman for his knowledge of policy and administration because the team has members that have investment experience but they needed someone who knows state government very well and can help shape their goals.
The Treasurer's office handles over five billion dollars in state funds.