"As public servants, we face many challenges. But we have a responsibility to make it possible for the Illinois citizens to pursue their own dreams and enable them to turn hard work into an opportunity for a better life". --Inauguration Speech, Jan. 8, 2007

Short Bio

Alexi Giannoulias was elected to his first term as Illinois State Treasurer on Nov. 7, 2006. At the age of 30, he became the youngest State Treasurer in the nation.

Giannoulias launched the nation’s largest state-backed hybrid rebate program, put the state’s unclaimed property on eBay and started an innovative securities lending effort that’s earning more revenue for the state.

Under his leadership the Treasurer’s Bright Start College Savings Program improved from one of the worst in the nation to the best thanks to its low fees and wide investment options, according to Morningstar Inc.

Giannoulias is a leader in how to run a political office ethically. He doesn't accept contributions from his employees, banks or contractors who do business with the treasurer's office.

Now he is reforming how states can help the private sector in difficult economic times. In October 2008, Giannoulias committed $1 billion of state funds in healthy banks and credit unions to give the financial institutions more money to lend to their clients and to help shore up customer confidence. The taxpayers' money will not be at risk, and the state will earn a higher rate of return than it could in many other short-term investments.

Prior to joining public service, Giannoulias was a community banker in his hometown of Chicago. Giannoulias graduated cum laude from Boston University, earned a law degree from Tulane University’s School of Law in New Orleans and also played professional basketball in Greece.

Extended Bio

At the age of 30, Alexi Giannoulias became the youngest State Treasurer in the nation when he was elected to office on November 7, 2006.

A former community banker, Giannoulias uses his financial expertise and business acumen to employ innovative investment strategies to get a better rate of return on the 17 billion in taxpayer dollars that his office is responsible for investing on a daily basis.

Shortly after taking office, Giannoulias overhauled the state's Bright Start College Savings Program, allowing families to earn more money for their children's college tuition.

Giannoulias announced changes to Bright Start that will make it one of the most competitive tax-exempt college tuition programs in the nation with better performing funds and lower costs so more children can earn a college degree.

Last summer, Giannoulias launched the nation’s largest state-funded rebate for hybrid vehicles. The Green Rewards program gives $1,000 cash back to Illinois residents who make the environmentally responsible choice to purchase a new hybrid or other fuel-efficient vehicle.

Giannoulias is also improving the way Illinois auctions its unclaimed property. Giannoulias started a pilot program in 2007 to sell the abandoned contents of safe deposit boxes on eBay and scrapped the state’s inefficient annual live auctions. The weekly online auctions have driven up sale prices and attracted a worldwide audience, resulting in increased revenue for property owners and the state.

In his inaugural address, Giannoulias promised to make government more accountable and efficient. As his first official act as Treasurer, Giannoulias signed his own executive order to enact the most comprehensive, widest-ranging ethics package of any elected official in the state. The order prohibits him from accepting contributions from banks, Treasurer’s Office employees and contractors who do business with the office.

To make the state's investments more transparent, Giannoulias crafted legislation that was signed into law, requiring him and future treasurers to post monthly investment updates as a means of holding the state more accountable for investing the state's money.

Giannoulias is also helping farmers keep pace with the rising costs of doing business. He has pledged a record $4 billion in low-interest agriculture loans over the next four years, the largest amount ever earmarked by the Treasurer's Office and more than any other state in the nation. He doubled the amount available to farmers for long-term projects based on feedback from loan program users.

Ending decades of mismanagement and graft, Giannoulias has moved to foreclose on two debt-ridden hotels built by politically connected insiders in Springfield and Collinsville in the early 1980s. Giannoulias put a stop to financial wrongdoing and implemented new management, resulting in both hotels showing significant profits. Giannoulias intends to sell the hotels on the open market to recoup as much money as possible for taxpayers and the state.

Prior to taking office, Giannoulias served as vice president and senior loan officer at Broadway Bank in Chicago’s Edgewater community. Crain’s Chicago Business rated Broadway the No. 1 Bank in Illinois for five years based on return on assets.

Giannoulias' financial experience resonated strongly with voters throughout the state in the November 2006 election. He received 54 percent of the vote, winning key areas, including Chicago, suburban Cook County and Lake and Will counties, as well as some pivotal central and southern counties.

In endorsing Giannoulias as an independent Democrat, the Chicago Sun-Times wrote, “We believe Giannoulias’ banking experience will help him bring creative money management ideas to the treasurer’s office.” The Daily Herald endorsed Giannoulias’ primary bid on his “strength of banking and investment expertise suited to the office.”

Giannoulias grew up in Chicago, graduated cum laude from Boston University and earned a law degree from Tulane University’s School of Law in New Orleans. He founded and chairs the AG Foundation, a not-for-profit charity that donates money to treat child-related illnesses, curb poverty and assist disaster relief organizations.

Giannoulias formerly served on the board of directors of the Community Banker’s Association of Illinois Legislative Committee.