Thomas W. Hayes

Thomas W. Hayes was the 28th California State Treasurer and a Republican. He was nominated by Governor George Deukmejian to fill the vacancy that was created on August 4th, 1987, after the death of the then Democrat, Jesse M. Unruh. He took office in 1989, upon confirmation by both houses of the California Legislature. He was Governor Deukmejian's second nominee. The first nominee, Congressman Dan Lungren, was refused confirmation by the State Senate. In 1990, he won the Republican nomination election to a term as state treasurer in his own right, defeating former Treasurer of the United States Angela "Bay" Buchanan (sister of Patrick J. Buchanan), but was defeated in the general election by Democrat Kathleen Brown.

Prior to his service as state treasurer, he had served as Auditor General of the State of California from 1979 to 1989. After leaving office as state treasurer in January 1991, he joined the administration of newly elected Governor Pete Wilson as the Director of Finance, serving from 1991 to 1993. Since then, he has worked in the private sector, with occasional forays into public service, most notably assisting Orange County with its finances after its notorious 1994 bankruptcy triggered by derivatives investments that went awry.