Paul Rosenstiel is a member of the California Catastrophe Response Council, which oversees the fund established to provide insurance protection to utilities in the event of catastrophic wildfires. He also chairs the board of the California Budget and Policy Center and serves on the board of advisors of the Global Projects Center at Stanford University. Previously, he was a special advisor to Governor Newsom on utility wildfire risk and related issues, in which role he helped create the Council. From 2011 to 2019 he was a board member of the California State Teachers’ Retirement System (CalSTRS), the second-largest public pension system in the United States. Previously, he served as deputy state treasurer, overseeing the issuance of state debt and representing Treasurer Bill Lockyer on the board of the California Infrastructure and Economic Development Bank. Most recently, he was a managing director at Stifel; he was also the managing partner of the San Francisco office of De La Rosa & Co. for 15 years. As an investment banker, he assisted state and local governments in financing infrastructure through the issuance of municipal bonds. His clients included the State of California and many of its local governments, water agencies, transportation agencies, and other providers of infrastructure. He received his MBA from Stanford.