Utah Capital Investment Board Biographies
Robert P. Majka
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Mr. Majka has more than 30 years management experience in the consumer and commercial lending industry. Mr. Majka was an Executive Vice President with Associates Corporation that merged with Citigroup in late 2000. At the time of the merger, Associate Corporation was one of the nation's largest "subprime" lenders, had $29.7 billion in outstanding loans in its consumer finance portfolio, serviced 480,000 home equity loans, and had nearly 3 million personal loans. Mr. Majka was the President and CEO of Associates Capital Bank, Inc. prior to the Citigroup merger and was a Vice President with Croker National Bank prior to joining the Associate Corporation. Upon leaving Citigroup and returning to Utah, Mr. Majka has been involved as a Board of Trustee with the Catholic Foundation of Utah, a Director with the Volvo Commercial Credit Corp. and participated in Junior Achievement Economics at Alta High School.
Alexander L. Searl
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Alexander L. Searl is a seasoned business professional with over 38 years experience in a variety of industries. Mr. Searl received degrees from Syracuse University (BA and MBA), Harvard Graduate School of Business Administration (Executive Management Program), Duke University (Chemistry for Executives), and Darden Graduate School of Business Administration (Pathway to Marketing Excellence). His corporate experience has included: CFO of Paradigm Inc., COO and CFO of Crown Energy Corporation, Senior Vice President and CFO of Theratech Inc., Executive Vice President of the American Stores Company, and a number of Vice President positions with Hercules Incorporated.
Along with his extensive professional career, Mr. Searl has been significantly involved with the community, directorships, and other organizations. From 1987 to 2000, Mr. Searl was a member of the Financial Executives Institute. He has served on the Board of Spenco Medical Corporation, the American Cancer Association of Delaware, the American Heart Association of Delaware, and as a principal of Manhattan Goose, LLC. Mr. Searl has also been appointed by governors in both Utah and Delaware to various positions in state government.
Lonnie M. Bullard
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Lonnie M. Bullard graduated in 1979 with a BA degree from Weber State University and an MBA from Northwestern in 1981. Mr. Bullard has over 25 years of professional experience and is currently the President and CEO of Jacobsen Construction Company, Inc., one of the largest regional commercial contractors based in Salt Lake City. Prior to working with Jacobsen Construction, Mr. Bullard was a senior partner and project manager with the Boyer Company for 11 years.
Mr. Bullard has served on many boards including: Member of the Coalition for Utah's Future, Member or the Economic Development Corp. of Utah, Chairman and Member of the Utah School and Institutional Trust Lands Administration, and Member of the Utah Chapter of the Associated General Contractors. In addition his professional affiliations include: Member of Rotary International, Member of the Utah Chapter of Young Presidents Organization, Member of the National Private Industry Advisory Council, and Member of the Legacy of Life Committee at the LDS Hospital Heart and Lung Research Foundation.
Edward Alter
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Major responsibilities include cash management and investment of state funds, selling the state's general obligation and revenue bonds and administering the state's unclaimed property program. He has been a member of the Utah State Retirement Board since 1981 and has served as President of the Board for nine years. He is also a member of the State Bonding Commission, the Private Activity Bond Review Board and the Utah Housing Finance Agency Board. Prior to his election as State Treasurer, Ed was the Assistant Treasurer for the University of Utah (1972-1980). He spent 5 years in the public accounting profession as a senior accountant in Los Angeles (1967-1972) where he became a CPA. Mr. Alter was elected President of the National Association of State Treasurers in 1986, was named by City and State Magazine to its All-Pro Government Team in 1988, and he received the first Jesse M. Unruh award for treasury excellence from the National Association of State Treasurers in 1989.
Mr. Alder is the State Treasurer and is appointed to the Utah Capital Investment Board by legislation.
Jason P. Perry, Executive Director of the Governor’s Office of Economic Development
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Jason P. Perry was appointed by Governor Huntsman as Executive Director of the Governor’s Office of Economic Development (GOED). He oversees economic development in the state of Utah, the Office of Tourism and the Utah Film Commission
Prior to his appointment at GOED, Jason served as Deputy Director of the Utah Department of Commerce. He administered human resources functions for the 250-person department and served as Enterprise Project Manager of the development of the Utah OneStop Business Registration. During several transition periods at the Department of Commerce, Jason served as acting director for the department as well as the acting director for the Division of Securities, and the Division of Real Estate.
Jason also worked as a state and federal prosecutor with the Utah Attorney General’s Office. In 2002, he was awarded the FBI Director’s Award for Distinguished Service to the Law Enforcement Community for his efforts in the prosecution of internet crimes against children.
The purpose of the board is to mobilize venture equity capital for investment in a manner that will result in a significant potential to create jobs and to diversify and stabilize the economy of the state. Board duties are to establish criteria and procedures for the allocation and issuance of contingent tax credits to designated investors and designated purchasers by means of certificates issued by the board, establish criteria and procedures for assessing the likelihood of contingent tax credit redemptions, and establish a desired fund rate of return.
