David Bronner | CEO | Retirement Systems of Alabama
Ten years ago, Dr. Bronner would have been in the top 10 on this list. He was riding high off of the reputation he’d built as an investments guru. He had total buy-in from elected leaders in every branch of the government, especially the legislature.
A lot has changed over the last decade, and Bronner doesn’t have the unquestioned authority he once did. But he’s still got some juice, as evidenced by a string of victories over the state’s teachers’ union boss, who has become his arch rival.
Bronners’ savviest move may have been heavily investing the RSA’s money into projects inside the State of Alabama. That’s allowed him to become a major economic development player. By tying the RSA directly to jobs within the state, it has made it difficult for lawmakers to refuse to prop up the RSA’s beleaguered balance sheet, because a hit to RSA would mean a hit to Alabama jobs.
Bronner has maintained the support of teachers all across the state, both active and retired. Having that large of a loyal constituency enhances the power that comes along with managing the RSA’s enormous investment portfolio.
Still, he doesn’t have the ability to sway public opinion and change the minds of the top elected leaders the way he once did. He’s been the state’s most vocal proponent of expanding Medicaid under ObamaCare, but the idea hasn’t gained even the slightest amount of traction.
