David Crane   DEMOCRAT

Investment banker

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Career notes

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Jan 2011: Crane was appointed by outgoing governor Arnold Schwarzenegger to the University of California's governing Board of Regents. The appointment, made to fill a seat vacated by Joanne Kozberg, came just after the San Francisco Chronicle reported that 36 of UC's highly paid executives wrote a letter to the regents "threatening to sue unless UC agrees to spend tens of millions of dollars to dramatically increase retirement benefits for employees earning more than $245,000."

San Francisco Chronicle story: http://articles.sfgate.com/2010-12-29/news/26349177_1_uc-employees-uc-system-higher-pensions

PDF of the letter: http://www.sfgate.com/c/acrobat/2010/12/30/regents-12-10-exec-pensions.pdf

2004-2010: Crane served then-governor Arnold Schwarzenegger as a special advisor for jobs and the economy. Crane was a critic of public employee pension critic and a vocal advocate for changing the state's public employee pension system.

Soucre: http://www.sacbee.com/2010/12/31/3290139/schwarzenegger-appoints-pension.html

Appointed by the governor to the California State Teachers Retirement System (CalSTRS) board.

Retired as partner of Babcock & Brown, an investment banking firm in San Francisco

Last edited by Scott Flodin on Jan. 4, 2011

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