State Treasurer Bill Lockyer has joined the Orange County office of an international law firm, where he’ll practice law part time until his term in office ends in January 2015, according to Josh Richman at the San Jose Mercury News.
Lockyer, a 72-year-old Democrat who’s paid $139,189, will split time in his final year in office between his state responsibilities and offering strategic advice and counsel to clients of Brown Rudnick LLP at its office in Irvine, south of Los Angeles, the firm said yesterday in a statement. Terms of his employment weren’t disclosed, according to Bloomberg Businessweek.
Lockyer has held elective office at the state and local level for more than 40 years. He has served as State Treasurer since 2007, and his broad responsibilities include acting as the state’s lead asset manager, banker and financier. He plays a key leadership role in financing various public works, and manages the state’s multi-billion dollar Pooled Money Investment Account. Lockyer serves on numerous commissions and boards, including the California Public Employees’ Retirement System (CalPERS). Prior to his election as Treasurer, he served as California’s Attorney General, and was a member of the California Legislature for 25 years. He capped his legislative career with his election as leader of the California State Senate from 1994 to 1998. Among his many impressive credentials, Lockyer served as the elected President of the National Association of Attorneys General, according to Yahoo Finance News.
The part-time position at Brown Rudnick will ensure that Lockyer can carry out his public responsibilities free from distractions, conflicts or time constraints, while benefiting the firm, Joseph F. Ryan, chairman and chief executive officer of Brown Rudnick said, according to Bloomberg.
Lockyer, his wife and their son have kept homes in Hayward and Long Beach for some time, and he said they’ll still do so. Lockyer in June had said his troubled relationship with his wife, former Alameda County Supervisor Nadia Lockyer — whose extramarital affair and drug addiction put them in the headlines and their marriage temporarily on the rocks last year — didn’t influence his career decision. Things continue to improve on that front, he said Monday: “Nadia is out of her residential treatment program, and we’re all living together and Diego is enrolled in school in Long Beach,” according to the San Jose Mercury News.
Lockyer has a substantial campaign warchest and if he starts doling it out here in Orange County his presence could be a real boon to the OC Democratic Party.