Funeral Service Held Today in Colorado
(June 9, 2011) Former California State Treasurer Matt Fong passed away on June 1 after a battle with skin cancer. He was 57. Fong’s funeral is being held today at the U.S. Air Force Academy in Colorado Springs, Colorado. He was a 1982 graduate of the Academy. A memorial service has been scheduled on June 18 in Whittier.
Matt Fong addresses the CalChamber Board of Directors at their March 1998 meeting.Fong was well-respected and well-liked by those he worked with and knew. He was a dedicated husband and father of two.
CalChamber President and CEO Allan Zaremberg recalled Fong’s commitment to public service and his knowledge of California business issues, “Matt served California and the nation well. He had a unique understanding of how government and business could successfully work together to improve quality of life for all Californians.”
Governor Wilson also praised Fong, “Matt was a man of courage, of great intellect and a wonderful heart. He was a thoroughly decent good man and one of the more talented public servants that I have been privileged to work with. I will miss him greatly, both personally and professionally."
Current State Treasurer Bill Lockyer said of Fong, "Our state has lost a fine leader and a great example of the Asian-Pacific community's tremendous contributions to the California family. As Treasurer, Matt never forgot he was managing taxpayers' money, and never failed to put their interests first. I try to live up to that standard. My heart goes out to Matt's family. I hope they find strength in his courage, and that their grief quickly fades into the quiet joy of memories."
Fong was born in Alameda, California and graduated from Skyline High School. After earning his Bachelor of Science degree from the United States Air Force Academy, he studied at Pepperdine University and received an MBA in 1982. In 1985, Fong received a J.D. from the Southwestern University School of Law in Los Angeles.
From 1985 to 1990, Fong worked at the firm of Sheppard Mullin Richter & Hampton in Los Angeles. He later served on the State Board of Equalization prior to being elected State Treasurer in 1994. In 2002, President Bush appointed Fong to serve as chairman of the Pension Benefit Guaranty Corporation Advisory Board.
Most recently, Fong had been president of Strategic Advisory Group, a corporate financier and investment banking firm he cofounded. Notably, he also was a Federal Aviation Administration-certified flight instructor, commercial pilot and glider pilot.
As Treasurer, Fong constantly sought ways to save taxpayer money. He initiated a shelf registration program that sped up the timeline and process for bringing bonds to market and implemented a commercial paper program. Fong was instrumental in helping to prevent the Orange County bankruptcy from having an impact in other counties and financial markets. The county declared bankruptcy after the election and only week before Fong was sworn in as state treasurer.
While serving on the Board of Equalization, Fong brought fairness, compassion and common sense to the board. He moved swiftly to reduce the agency’s operating costs by nearly $7 million, consolidated offices, and cut waiting times from 45 minutes to less than 5 minutes. He spearheaded a successful multi-billion dollar settlement between utility companies and California’s 58 counties that saved hard-earned taxpayer money and prevented several counties from bankruptcy.
The Memorial Service for Fong will be held June 18 at 10 a.m. at the Whittier Area Community Church, 8175 Villaverde Drive in Whittier.