Title: Deputy Assistant Treasurer for Debt Management
Firm: State of Massachusetts, Department of the State Treasurer
Drew Smith’s beginnings in finance trace to his grandfather in Arkansas explaining monthly brokerage statements and having him look up stock prices.
“I’ve always had a real interest in finance and the markets,” he said.
When the University of Arkansas graduate sought a larger stage after working for the state Treasury and for a Series 7-registered broker-dealer his native state, the Massachusetts Treasury in Boston came calling.
Drew, now the commonwealth’s deputy assistant treasurer for debt management, was one of Sue Perez’s first hires in 2010.
“Since then, I have witnessed the growth in his leadership ability, his always-present desire to collaborate, and his constant focus on innovation,” said Perez, now assistant state treasurer.
Drew is responsible for a debt portfolio of more than $25 billion with annual issuance that tops $4 billion. He manages the commonwealth’s investor website, well-regarded within the capital markets. Other initiatives include social media and “Debt 101” training sessions for lawmakers, state officials and other policymakers.
Drew also manages relationships with the bond rating agencies. “Because of our ‘frequent issuer’ status, this is no easy lift,” said Perez.
Updating rating agencies has become increasingly important, according to Drew. “We like our communications with them frequent and boring,” he said. “We’re always keeping them up to date on the debt side of things.”
He credits the people around him over the years, including state treasurers Steven Grossman and Deborah Goldberg, and deputy treasurers Perez and James MacDonald.
“I always feel as though I’m learning from the experts. They’re exceptionally good at what they do.”
Drew, who lives in Boston’s Dorchester neighborhood, calls himself a “huge foodie” and a political buff.
“I love to cook. Being from Arkansas, I pride myself on my Southern cuisine and whenever I get a chance to expose people to it, I do it.”
“Drew understands the value of each investor (large and small) and takes none of them for granted. Whether he is planning and managing our nationally known annual investor conference (where he does everything from developing a topical, relevant agenda and securing the speakers to ordering lunch) or spending time on the phone with local retail investors explaining how bonds work, it is clear that he loves the “people” aspect of his job.” Sue Perez, assistant state Treasurer, Massachusetts