Administrator For the Future Texas Bullion Depository has Been Named

AUSTIN, Texas (KTAB/KRBC) - The new administrator for the future Texas Bullion Depository has been named by Texas Comptroller Glenn Hegar.

Tom Smelker, director of Treasury Operations, has been named the new administrator for the future depository. Smelker comes into this position with nearly 30 years experience with the State Treasury, with 10 of those as director of Treasury Operations.

Smelker was first involved with the idea of the depository in 2013, but the original legislation never passed. The current incarnation of the legislation, House Bill 483, was introduced in 2015 with Smelker once again tasked with examing and evaluating the bill.

“I am confident he will provide the leadership necessary to make the Texas Bullion Depository a success. Tom’s extensive knowledge of the inner workings of state government and the legislative process, combined with his deep understanding of the state’s finances and financial systems, give him a unique skillset that I believe will provide tremendous value to this historic endeavor," said Comptroller Glenn Hegar.

A graduate of the University of Texas, Smelker holds professional certification of Certified Cash Manager, is currently a member of the International Precious Metals Institute, and is a former president of the Austin Association for Financial Professionals.

“I’m looking forward to meeting the challenges ahead and creating a safe and secure facility where Texans and Texas businesses can store their gold,” Smelker said.

The Texas Bullion Depository will be the first ever state-run gold bullion depository.

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