Kashkari, 39, directed recipients of yesterday’s e-mail to his personal website, which said he’s reaching out to leaders in communities across California to hear their ideas, share his own and explore how to best bring positive change in the state.
California Governor Jerry Brown, 74, hasn’t said whether he plans to seek re-election in 2014. State Treasurer Bill Lockyer must leave office at that time because of term limits. California sells more debt than any other state. The California controller’s office, held by John Chiang, is also open in the 2014 election cycle because of term limits. All three office holders are Democrats.
Kashkari, a former investment banker at Goldman Sachs, was picked by then-Treasury Secretary Paulson in 2008 to oversee the $700 billion Troubled Asset Relief Program, created to help financial institutions emerge from crisis in the wake of the subprime mortgage collapse. He resigned from that role in 2009.
“Leaving is not an easy decision because our equity business is off to a great start,” Kashkari said in his e-mail sent to friends yesterday. “Nonetheless, my passion lies in public service.”