Oregon Treasurer Ben Westlund died in Bend, Ore., early Sunday morning after serving just over one year as the state’s top finance official.
Mr. Westlund, 60, survived an initial bout with lung cancer in 2003, when surgery, radiation, and chemotherapy put the disease into remission. But he announced in October that a routine scan had revealed its recurrence.
“Ben cared about the people of this state and worked tirelessly throughout his public service career to create hope, opportunity, and build a better future for all Oregonians,” Gov. Ted Kulongoski said in a statement.
Kulongoski will appoint a replacement to serve in Mr. Westlund’s place until a permanent successor is chosen in the November election. He was elected treasurer as a Democrat in November 2008.
Mr. Westlund, a former cattle rancher with a down-to-earth style, was a political moderate known for his independence.
He began his political career as a Republican state representative in 1996 and served in the state Senate from 2003 to 2008.
He ran for governor as an independent in 2006 before joining the Democratic Party.
During his 12 years in the Legislative Assembly, Mr. Westlund was known as a political moderate.
While still a Republican, he co-sponsored legislation to give domestic partnership rights to same-sex couples and supported Measure 30, an unsuccessful attempt to increase taxes, as the state was struggling to balance its budget after the last recession.
As co-chairman of the Joint Ways and Means Committee, he helped steer the state through the downturn and later pushed for the creation of a rainy-day fund that helped limit the severity of budget cuts during the current recession.
He also supported tax increases approved by voters earlier this year that he said would help protect the state’s double-A ratings.
As treasurer, he also pushed to improve performance of the $52.4 billion Oregon Public Employees Retirement Fund and to increase the transparency of its investments in private equity and real estate partnerships.
The pension fund’s performance was in the top 1% of large pension funds in the final quarter of 2009 with gains of 4.9%, according to the Trust Universe Comparison Service.
For the year, the fund gained 19.4%, bringing its funded ratio to 87%.
Mr. Westlund sued Oppenheimer Funds for fraud and misrepresentation in connection with 2008 losses to the Oregon College Savings Plan. He said the investment manager had made risky bets in what was supposed to be a conservative bond fund.
The company paid $20 million to settle the suit. Mr. Westlund replaced the firm with TIAA-CREF.
“In his speeches, he frequently joked that while folks can learn lifelong lessons in kindergarten, you can learn a lot about being treasurer from ranching,” spokesman James Sinks said in a statement. “For instance, watch out for predators, sunshine is the best disinfectant, and watch where you step.”
Mr. Westlund is survived by his wife, Libby, a 21-year-old son, B.J., and a seven-year-old daughter, Taylor.
A public memorial service is scheduled at the Oregon Capitol on Saturday at 2 p.m. A service is also scheduled in Bend at the Riverhouse Conference Center, on Friday at 2 p.m.
