CT STATE TREASURER DENISE NAPPIER
Denise L. Nappier is the 82nd Treasurer of the State of Connecticut. Elected in 1998, she was re-elected in 2002, 2006, 2010 and 2014. She is the first and only African-American woman elected to serve as a State Treasurer in the United States, the first African-American woman elected to a statewide office in Connecticut. She is also the only woman to be elected Treasurer in Connecticut history.
As Connecticut’s chief elected financial officer, she is the principal fiduciary of the $35 billion Connecticut Retirement Plans and Trust Funds (CRPTF), and oversees the state’s $25 billion debt management portfolio and the $7 billion-Short Term Investment Fund.
Early on in her administration, Treasurer Nappier was the architect of wide-ranging reforms to Connecticut’s system of pension fund governance, which included: eliminating finders’ fees and political influence peddling; establishing greater transparency and proper due diligence in pension investments; formalized the role of chief investment officer, and strengthen the responsibility of the independent Investment Advisory Council to provide meaningful oversight in the hiring of investment advisors and adoption of an investment policy. Nappier’s high standards and financial expertise brought integrity back to the Treasurer’s office and professionalism to the management of state resources, resulting in record growth of the state’s investment funds.
A strong advocate for expanding economic opportunity, Treasurer Nappier has used the clout of the Treasury to bring more diverse players to the financial services industry. Her administration has an unsurpassed record of doing business with women- and minority-owned firms, the next generation of entrepreneurs and professionals, and majority firms with a demonstrated commitment to inclusiveness and overall responsible corporate citizenship. One of her diversity initiatives, the $1.3 billion Connecticut Horizon Fund, established in 2004, has dramatically increased opportunity for emerging and small firms across the country to earn Treasury business.
Treasurer Nappier has championed numerous efforts promoting financial education and economic empowerment strategies, including CT’s Individual Development Account Initiative, a matched savings program designed to help working families accumulate assets. She was a driving force behind the Money Conference for Women -- now in its seventeenth year, and numerous statewide youth financial education initiatives. Changes implemented by the Nappier Administration to the Connecticut Higher Education Trust Fund (CHET) have made it one of the nation’s most accessible and affordable 529 college savings programs.
On the consumer rights front, Nappier was the original proponent who worked with legislators to enact Connecticut’s Landmark Gift Card Law, which prohibits expiration dates and non-use service fees on gift cards sold in Connecticut. She also led the successful effort to establish the $100 million Connecticut Housing Trust Fund for Growth and Economic Opportunity -- the first time in state history to help create more affordable, quality housing for working families.
A leading voice for corporate accountability and protecting shareholders’ rights, Nappier is well known for shareholder activism, and has successfully negotiated with companies for landmark agreements on a wide range of issues including independence and diversity of board members, executive compensation, financial reporting and auditing, global labor standards, and disclosure of financial risks associated with climate change. She is the first Treasurer in Connecticut history to file shareholder resolutions.
Treasurer Nappier proposed and co-chaired the first Institutional Investor Summit on Climate Risk, held at the United Nations in 2003, and biennially since. Because of her call for legislation authorizing divestment of state pension funds from businesses with financial interests in Sudan, Connecticut became the first state to use its Treasury’s clout to support efforts to end the genocide in Darfur.
Widely respected by her peers, Treasurer Nappier served five elected terms as Treasurer of the National Association of State Treasurer, and is a board member of the Robert Toigo Foundation, and the International Foundation for Electoral Systems. She also served as a board member of the Ct Chapter of the National Association of Corporate Directors, the first public fund investor to serve in that capacity.
The Hartford native previously served as Hartford City Treasurer for nearly ten years, having been elected to five consecutive terms, and as Executive Director of Riverfront Recapture, Inc., during the formative stage when the financial blueprint was established for the successful revitalization of the Greater Hartford riverfront. Treasurer Nappier holds a B.A. from Virginia State University and a master’s degree from the University of Cincinnati, and has received a number of honorary degrees.
Treasurer Nappier was twice named as one of the nation's 100 Most Influential People in Finance by Treasury & Risk Management magazine. Treasurer Nappier has received the Lifetime Achievement Award from the Women in Public Finance and was inducted into the Wall Street Hall of Fame by the National Association of Securities Professionals and the Connecticut Women's Hall of Fame. Treasurer Nappier has also received the National Association of Investment Companies' Pacesetter Award and the Good Housekeeping magazine Award for Women in Government, in recognition of her advocacy of responsible corporate behavior and high ethical standards.