Maryland Treasurer Nancy Kopp retires after 50 years in public service
Friday marked the final day of a decades-long career in public service for Maryland State Treasurer and active CSG East member Nancy Kopp.
Kopp, who announced her retirement in October, was first elected to her post in February 2002 before going on to win reelection to five full four-year terms. She had previously represented the Bethesda area in the Maryland House of Delegates for 27 years, where she served on the House Appropriations Committee and as Deputy Majority Leader and Speaker Pro Tem.
During her legislative career, Treasurer Kopp was named by her colleagues as the most effective woman legislator and one of the ten most effective members of the House of Delegates.
Photo by Joe Andrucyk, used under CC 2.0
“Serving as Maryland’s Treasurer has been a great privilege, as well as a terrific challenge,” said Treasurer Kopp. “I have cherished the opportunity to serve and believe that, working together, we have made a real contribution to the benefit of our state and fellow citizens. Maryland is strong; a model of good, prudent fiscal management and investment.”
“We have invested in our collective future — in public education, great universities, a sound human and physical infrastructure, and in the many other ways in which we work to assure strong communities and decent lives for all Marylanders.”
As State Treasurer, Kopp served as the State’s chief representative dealing with bond rating agencies and banking firms, was responsible for receiving, depositing, investing, and distributing State funds, and led efforts to forecast the monetary needs of the State.
During her tenure, Kopp oversaw the restructuring of the Office’s banking and investment functions , leading to enhanced technology and streamlined operations in which hundreds of millions of transactions are reconciled to the penny daily. In 2002, Treasurer Kopp initiated the first modern Maryland bond refunding program, resulting in direct savings to taxpayers of more than $461 million over 20 years.
Following 50 years of public service, Kopp said in a statement that she hopes to spend more time with her husband, children, and grandchildren and travel extensively.
Maryland lawmakers elected Del. Dereck Davis on Thursday to be the state’s next treasurer.
Further Reading:
- Nancy Kopp full biography in Maryland State Archives
- “Nancy Kopp, Maryland’s longtime state treasurer, to retire by end of the year” — October 28, The Baltimore Sun
