We are living in uncertain times. But one thing certain is that the California State Treasurer’s office will faithfully carry out our vital role as the state’s banker, and do so in a way that protects the public's funds.

We will keep managing the approximate $3 trillion in banking transactions, continue selling bonds and managing bond debt, and carry on managing the state’s investment portfolio, which has averaged more than $140 billion in assets over the course of my administration.

Similarly, the 16 boards, commissions and authorities that I chair will continue to serve the public, hospitals, businesses, and help spur housing and economic development.

As we carry on our work, we are always conscious that the safety of our employees is crucial to our success. Over these recent months, we have responded by conducting meetings by phone, remaining vigilant about cleaning and washing hands, and following guidelines for telecommuting so our employees and the public remain safe from the deadly COVID-19 virus and its variants.

I urge everyone else to do the same. Working together and following safety guidelines is our best hope for saving lives and defeating the pandemic.

In Peace and Friendship,

Treasurer Fiona Ma

Ivo A. Tjan is Chairman, President & Chief Executive Officer of CW Bancorp and CommerceWest Bank, a full service commercial bank with a unique vision and culture of focusing exclusively on the business community. Mr. Tjan is the Founder of the company and launched an Initial Public Offering in 2001. The Bank is headquartered in Irvine and serves businesses throughout the state of California.

Mr. Tjan held a wide range of management roles at Eldorado Bank, Home Savings of America and Great Western Bank. He was named among Orange County’s Most Influential Business Leaders on “OC500” List. He was honored as the Robert Ross Founders Award Recipient from the MDA. Mr. Tjan was recognized as one of Vivid Magazine’s Annual Top 10 Asian American Entrepreneur and was also named one of OC Metro’s Hottest 25 People of Orange County, California.

Mr. Tjan holds a Bachelor of Arts Degree in Business Administration from California State Fullerton University. He is an active member and/or board member of several corporate, social and charitable organizations. Mr. Tjan is a member of the Young Presidents’ Organization (YPO), CEO Affiliation Group, American Bankers Association, Bank CEO Network and The Pacific Club. He is also a former Board Member for California State Fullerton University, New Majority, Marconi Foundation, The Children’s Museum, Advisory Board for CASA and American Bankers Association Government Relations Committee. In addition, Mr. Tjan supports a variety of charities and non-profit organizations throughout Southern California.

Edward Ornelas, Jr., originally from Los Angeles, found his professional calling in the Inland Empire, dedicating himself since 2010 to elevating local businesses. His unique blend of innovative thinking and unconventional marketing strategies distinguishes him in the business realm.

Edward's pivotal contribution began in 2015 with the Inland Empire Regional Chamber of Commerce. Though not its founder, he was the architect of its renaissance, using his strategic insight and relationship acumen to elevate the Chamber from a fledgling entity to a regional cornerstone. His transformative leadership was key in redefining the organization's trajectory.

Expanding his influence in 2018, Edward acquired the Inland Empire Business Journal, seizing the chance to amplify regional economic narratives and contribute to the area's positive image. This wasn't just a business move; it was a commitment to local economic storytelling and rebranding the Inland Empire's identity.

In his professional journey, Edward defies traditionalism. He thrives on innovation, questioning established methods, and boldly pursuing uncharted paths. For him, redefining norms and pushing boundaries is not a mere practice but a necessary ethos. This principle fuels his career and the transformative energy he brings to his ventures, creating environments that dare to evolve and innovate continuously.

Currently, Edward contributes his expertise to several boards, including the American Red Cross, Inland Southern California United Way, and as an Associate Director to the California Hispanic Chambers of Commerce. His nuanced grasp of business mechanics and devotion to societal advancement gained recognition with his recent induction into the California District Export Council by the U.S. Secretary of Commerce, affirming his diverse skills.

Leading both the chamber and the Inland Empire Business Journal, Edward remains a cornerstone of community progress, stimulating economic growth, and weaving a narrative of regional success and promise.

Hilda Kennedy is the Founder/President of AmPac CDC. Prior to establishing the CDC, Kennedy worked in local government for the City of Inglewood, as Chief of Staff to the Mayor, Executive Assistant to the City Manager and Economic Development Director. As Economic Development Director, Kennedy established a $45 Million loan fund, leveraging HUD 108 funds with matching bank funds, to provide financing to businesses in the community.
Hilda Kennedy served on the White House and SBA Council on Underserved Communities; one of 15 representatives chosen across the country. She is current President-Elect for the National Association of Women Business Owners-California; Past President of the National Association of Women Business Owners, Inland Empire Chapter, and is immediate Past President of the Risk Management Association – Inland Empire Chapter. Kennedy serves on the Board of the National Christian Foundation and is a Board Member of the National Association of Development Companies. Hilda Kennedy is an active member of her church in Ontario, CA and serves on the Board of the Mt. Zion Economic Development Corporation.

Hilda has been recognized for her efforts to promote the growth of small businesses – she was recognized as the 32nd Senatorial District Woman of the Year by Senator Gloria Negrete McCloud 2012; received the 2012 ANITA Award by the National Association of Women Business Owners – Inland Empire Chapter; received the 2012 Community Excellence Community Builder Award, with her husband Pastor Brian Kennedy from Inland Valley Newspaper; received the 2011 Women in Business Champion Award by the U.S. Small Business Administration – Santa Ana District Office; was a recipient of the Black Rose Award-2009.