WASHINGTON - Virginia Gov. Timothy M. Kaine announced yesterday that he has appointed deputy finance secretary Manju Ganeriwala to become state treasurer on Jan. 1.

In her new job Ganeriwala will serve as chairwoman of the Treasury Board of and oversee the commonwealth's investments and debt management. She will replace J. Braxton Powell after he retires on Dec. 31.

"Manju Ganeriwala brings a proven record for financial analysis and management that is in keeping with the high standards that Virginia holds as one of the best managed states in the nation," Kaine said in a release.

As deputy finance secretary, a post she has held since January 2006, Ganeriwala has advised the governor on all financial matters, including the budget, revenue forecasts, debt issuance, and the commonwealth's triple A bond rating.

Before that, she was deputy director for finance and administration in the Department of Medical Assistance Services from June 2000 to January 2006. She has worked in state government since July 1985. She holds a bachelor of commerce degree from the University of Bombay, now Mumbai, and a master of business administration degree from the University of Texas at Austin.

Powell has been the state's treasurer since January 2006. Before that he was deputy treasurer beginning in 2000. He has been with the state's Department of Treasury for 25 years and a state employee for 40 years.

"Braxton Powell has been a rock of continuity at the Department of Treasury, making sure our treasury management systems work smoothly. His steady leadership will be missed," Kaine said.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.