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Scott G Winterton, Deseret News
David Damschen laughs after being sworn in as state treasurer by Utah Supreme Court Justice John Pearce inside the Gold Room at the Capitol on Wednesday, Jan. 13, 2016.

SALT LAKE CITY — David C. Damschen took the oath of office Wednesday as Utah's 25th state treasurer.

"As treasurer, I will use my decades of experience to help lead Utah’s team effort in preserving our precious triple-A bond rating, which takes know-how and constant vigilance,” he said. "I will also continue to save taxpayer dollars through prudent debt management and investment practices."

Gov. Gary Herbert appointed Damschen to the post last month to replace Richard Ellis, who resigned to take a job with the Utah Educational Savings Plan. Damschen will serve the remainder of Ellis' term, which expires in January 2017. He would have to win election this year to keep the job another four years.

Damschen served as chief deputy treasurer for six years. He also worked as a senior vice president at AmericanWest Bank and vice president of institutional trust and custody at U.S. Bank.

— Dennis Romboy