Gov. Nathan Deal today announced that Steve McCoy will become Georgia’s state treasurer and that state Sen. Mitch Seabaugh of Sharpsburg will succeed McCoy in the role of deputy state treasurer.
The Office of the State Treasurer is responsible for receipt and disbursement of state funds and lottery funds, management of the state's cash resources, Georgia Fund 1 and the Georgia Extended Asset Pool.
Deal today will issue a writ to set the date for a special election for Senate District 28 on Nov. 8.
Steve McCoy, state treasurer
McCoy has served as the deputy state treasurer and chief investment officer since August 2011. He is responsible for the management of approximately $11 billion of state and local government investments and oversight of the state’s banking relationships as well as the Path2College 529 Plan.
From 1993-97, McCoy served as the director of the Office of Treasury & Fiscal Services (now the Office of the State Treasurer). In that capacity, he served on the State Depository Board, the Georgia State Financing & Investment Commission, the Employees Retirement System, the Teachers’ Retirement System and the State Properties Commission. McCoy also served as executive director of the Georgia Environmental Facilities Authority from 1992-93.
From 1997-2010, he founded and managed an SEC registered investment advisory firm serving state and local governments. Prior to joining the state in 1993, McCoy spent 11 years in investment banking specializing in municipal finance.
McCoy earned a BBA in finance from the University of Georgia and an MBA from Georgia State University. He has served on the boards of several charitable foundations and is an active member of the Church of the Apostles in Atlanta. McCoy and his wife have been married 34 years and have two children.
Mitch Seabaugh, deputy state treasurer
Seabaugh was first elected to the state Senate in 2000 and works as a CFO with a Newnan company. He was elected majority whip in his second term and most recently served on the Appropriations, Finance, Judiciary, Regulated Industries, Rules, and Reapportionment and Redistricting committees.
Senator Seabaugh previously served as the chairman of the Coweta County Business License and Tax Appeal Board. His past community involvement includes stints on the Coweta County School Board Citizens’ Advisory Council, the executive committee of the Coweta County Republican Party, the 3rd Congressional District Committee and the Georgia Republican Party State Committee.
Seabaugh graduated from Southern Arkansas University with a BBA in accounting. Mitch and his wife, Leah, have two children and three grandchildren and reside in Coweta County.