PASADENA : City Treasurer Palast to Retire After 30 Years
Ted Palast, the city’s highly regarded treasurer, will retire Feb. 28 after 30 years at the post, city officials said Wednesday.
His departure will come only days before his boss, Finance Director Mary Bradley, departs for a similar position with Sunnyvale.
Under Palast’s guidance, the city has regularly chalked up the highest returns on its investment of any municipality in the San Gabriel Valley. Palast has overseen a portfolio worth $159.3 million and produced a 7.2% return on investments last year.
“He is an investment whiz who made a lot of money for this city. He’ll be sorely missed,” said Ann Erdman, a city spokeswoman. “The city has a big task in store in trying to find a replacement with his skills.”
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