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Board of Investors

Board of Investors

About the Board

The TSET Board of Investors is responsible for investing annual payments resulting from the 1998 Master Settlement Agreement, in which tobacco companies agreed to compensate states for healthcare costs associated with tobacco use. The board is chaired by the State Treasurer of Oklahoma, who oversees TSET's investments along with designees of the Governor of Oklahoma, the President Pro Tempore of the Oklahoma Senate, the Speaker of the Oklahoma House of Representatives and the Oklahoma State Auditor and Inspector. 

Randy McDaniel

Chair

As the state's top elected financial officer, McDaniel protects and manages the billions of taxpayer dollars deposited each year, safeguards the financial health of the state, promotes responsible fiscal policy, and operates the state's unclaimed property program. McDaniel chairs the Oklahoma College Savings Plan Board of Trustees and the Board of Investors for the Tobacco Settlement Endowment Trust. He is a member of the State Board of Equalization, which certifies funds available for the state budget, and the State Pension Commission. After earning a bachelor's degree with honors in economics from the University of Oklahoma, McDaniel earned a master's degree from Cambridge University before starting his career in banking. He was a successful financial advisor for more than 20 years working with individual and institutional investors. He holds a Certificate in Public Treasury Management from the National Institute of Public Finance. McDaniel was a Distinguished Military Graduate and served for 11 years in the Oklahoma Army National Guard, where he rose to the rank of Captain. McDaniel was elected to six terms in the Oklahoma House of Representatives. He served as chair of the House Banking, Financial Services and Pensions Committee, where he spearheaded the passage of legislation that helped strengthen the state's retirement systems, ensuring the retirement security of teachers, public safety personnel and public employees. He and his wife, Julie, have two children, Grace and John. They live in Edmond and attend Crossings Community Church.

Brenda Bolander

Brenda Bolander, CPA, appointed by the State Auditor and Inspector, is vice president at Retirement Investment Advisors, Inc., an independent financial planning and investment advisory firm. Bolander is a certified public accountant with extensive professional experience in the Oklahoma state government ranging from financial auditor to investment compliance officer. She last served as the state comptroller for ten years, which included investment and pension responsibilities as chair of the Cash Management and Investment Oversight Commission and as a trustee for the Oklahoma Law Enforcement Retirement System. Bolander is a member of the AICPA Personal Financial Planning section, the Oklahoma Society of CPAs and the Oklahoma City Chapter of AGA. She has held various leadership positions, taught numerous technical seminars, contributed to a book on cross-collaboration, and served as president of the national state comptrollers association. 

Todd Dobson

Vice Chair

Mr. Todd A. Dobson is President of MidFirst Bank & was Senior Executive Vice President and Chief Financial Officer of MidFirst Bank. Before joining the Midland Financial company in 1991, he spent seven years with Price Waterhouse as a tax manager and certified public accountant. After joining MidFirst, he was promoted to the position of Treasurer in 1994 and was named Chief Financial Officer in 1995. Mr. Dobson earned a Bachelor's degree in Accounting from Oklahoma Christian University and a Master’s degree in Business Administration from Oklahoma City University.

Senate President Pro Tempore appointment, vacant

Speaker of the House appointment, vacant