Wheeler ‘well prepared for challenges’ as new state treasurer

UPDATE • Former Treasurer Jim Hill tosses his hat into race for the statewide post

The Portland Tribune, Mar 9, 2010, Updated Mar 9, 2010 (14 Reader comments)

Tribune file photo

Multnomah County Chairman Ted Wheeler, who has a background in banking and finance, was named Tuesday morning as new state treasurer. He will resign his county position on Thursday and seek election to the statewide office in November.

Multnomah County Chairman Ted Wheeler was named Tuesday as the new state treasurer, filling the vacancy left by Sunday’s death of Ben Westlund.

Gov. Ted Kulongoski announced the appointment in the morning, saying Wheeler “brings the perfect balance of expertise from both the public and private sectors to this job with an impressive record managing the county’s budget to a working knowledge of the financial industry.”

Wheeler was elected to lead the Multnomah County commission in November 2006. Before that, Wheeler worked in the financial industry, including with the Bank of America and Copper Mountain Trust.

“I am grateful for the opportunity to serve the citizens of this great state and am well prepared for the challenges ahead,” he said.

Wheeler said he did not seek the appointment but that Kulongoski asked him to "think long and hard" before saying yes.

Wheeler said he knows some projects are still unfinished, but he thinks the county commission has strong leaders to see them through.

Wheeler said he will resign his Multnomah County position Thursday and he will withdraw his re-election bid for the county job and plans to seek election in November for the treasurer’s post.

He named the county’s Chief Operating Officer Jana McLellen to serve as acting chairwoman until commissioners choose someone to serve until the end of 2010. Voters will elect a new county chairman on the May 18 primary election ballot.