# Autumn S Sanson Chief Investment Officer at the Arkansas Office of the Treasurer of State during the Milligan-era beginnings of the Treasury Israel Bonds program. Sanson's email signature from a 1/9/2019 email to DCI: > Autumn Sanson > Chief Investment Officer, Treasurer of State > 1401 West Capitol, Suite 275 > Little Rock, AR 72201 > 501.682.1291(o) [email protected] > artreasury.gov Twitter: @ARTreasurer Facebook: ARTreasurer > Israel Purchase 01-15-2019_Redacted.pdf p.3, 1/9/2019 11:42 AM Sanson's Chief Investment Officer title refines the wiki's prior framing of Sanson as merely a "point-of-contact" or "ATTN" name on Bondholder Statements. Sanson held the senior investment role at the Milligan-era Treasurer's office. The Investment Manager title later held by Celeste Gladden is a step below the Chief Investment Officer role Sanson held; Gladden's elevation to Investment Manager after Sanson's departure left no documented Chief Investment Officer successor at the Treasurer's-office through the Walther and Thurston tenures (Pulley's role is Senior Investment Officer, distinct from Chief Investment Officer). ## The 3/1/2018 first Treasury Israel Bonds purchase The 3/1/2018 $20M 10th Series Jubilee Issue Bond 2-Year Fixed 2.73% (CUSIP 46513XL40), the first documented Treasury Israel Bonds purchase ever, was operationally Sanson's responsibility. Sanson signed the Bank of America custodial letter to Rick Ledenbach (Global Custody and Agency Services, IL4-135-18-51, 135 South LaSalle Street, Chicago IL 60603) on the Dennis Milligan letterhead: > We are requesting that you hold the following physical Israel Bond in your vault at Bank of America: > This is for account number: [redacted] > Treasurer State of Arkansas > 10th Series Jubilee Issue Bond 2-Year Fixed > $20,000,000.00 Cusip: 46513XL40 > Issue Date: 3/1/2018 Maturity Date: 3/1/2020 > Interest Rate: 2.73% > Interest Paid: May 1 & November 1 > First Coupon Date: May 1, 2018 > Interest Calc Method: Actual/365 > > Thank you for your attention to this matter. > Autumn Sanson > Arkansas State Treasury > Israel Purchase 03-18-2018_Redacted.pdf p.3 (handwritten "inv #5095") The 1/24/2018 3:44 PM email from Luis Jimenez to Sanson and Jason Brady (cc Bradley Young and Lawrence Berman) opened the operational coordination for the purchase ("Hi Autumn, Larry has informed me the State will be purchasing $20,000,000 of the 2 Year Jubilee. If you can please provide me with the below information I can complete the attached investment form"). The pitch chain originated 1/12/2018 12:58 PM from Berman to Brady (then at the Auditor's office prior to his Treasury tenure documented at [[jason-brady]]); the operational coordination then went to Sanson as the Treasurer's-office Chief Investment Officer. ## The 1/15/2019 $30M Milligan-era purchase The 1/15/2019 $30M 11th Series Jubilee Issue Bond 2-Year Fixed 3.11% (CUSIP 46514AB57) was Sanson's documented order-placement. The 1/9/2019 11:42 AM email Sanson sent to Luis Jimenez and Lawrence Berman (cc Jason Brady at [email protected] and Celeste Gladden at [email protected]): > That will be fine. Just a few changes we need to make: > We would like to invest $30mm in the 2 year Jubilee Bond at 3.11% to settle January 15, 2019 > You will need to send the bond/certificate to: Bank of America Merrill Lynch [redacted] > Send interest/Principal to: Pay by Wire [redacted] > Everything else from last time is the same. We will wire the money once the certificate is received at our custodian. > Thank you, > Israel Purchase 01-15-2019_Redacted.pdf p.3, 1/9/2019 11:42 AM The Berman 1/9/2019 8:49 AM email exchange that produced the Sanson order documents Berman's offer: "Autumn, if you let us know what bond you want, Luis for Brad can fill out the investment form for your review. The only form you would need to fill out yourself is the institutional private placement Bond accredited letter. That would be for either a 3 or 5 year fixed rate bond. If you want the 2 year Jubilee, let us know how much, and we can fill that our for you based on your last purchase." Sanson elected the 2-Year Jubilee at $30M (a non-institutional product not requiring the QIB Accredited Investor Letter), avoiding the institutional QIB compliance step. The selection is documented as Sanson's personal investment-product decision; Brady was cc on the correspondence but did not direct the product choice. Sanson signed the BofA custodial letter on the Dennis Milligan letterhead requesting Bank of America hold the physical 11th Series Jubilee Issue Bond 2-Year Fixed certificate. The handwritten "Inv# 8542" header indicates Sanson's office's internal investment-tracking number. ## The 3/1/2020 first Treasury Israel Bonds maturity The 3/1/2020 $20M maturity (CUSIP 46513XL40, the March 2018 first purchase rolling off) was the first documented Treasury Israel Bonds maturity event. The 12/31/2018 and 12/31/2019 Computershare Bondholder Statements addressed to "ATTN AUTUMN S SANSON, STATE CAPITOL, SUITE 220, LITTLE ROCK AR 72201" establish Sanson as the Treasury-side Israel Bonds ATTN through this period. The 2/24/2020 redemption-request letter (signed by Celeste Gladden as Investment Manager, not Sanson) and the 2/25/2020 BofA Trade Settlement Request (also signed by Gladden) document that the operational handling of the maturity had shifted to Gladden by February 2020, even though Computershare Bondholder Statement addressing continued to use Sanson's name through at least year-end 2020. The Sanson-to-Gladden transition on operational handling of Israel Bonds therefore appears to have started before the Computershare addressing was updated. Sanson likely left the Treasurer's office between mid-2019 and early 2020; Gladden took over the operational Investment Manager role. ## Address history The 12/31/2018 Bondholder Statement is addressed to: > ARKANSAS STATE TREASURER > ATTN AUTUMN S SANSON > STATE CAPITOL > SUITE 220 > LITTLE ROCK AR 72201 > Israel Bondholder Statements_Redacted.pdf p.10, 12/31/2018 Sanson's 1/9/2019 email signature gives the address as "1401 West Capitol, Suite 275" — the Victory Building location. The Computershare Bondholder Statement address (State Capitol Suite 220) versus the email signature address (Victory Building 1401 W Capitol Ste 275) reflects that Treasury offices were already at the Victory Building by January 2019, while Computershare's mailing records lagged at the prior State Capitol Suite 220 address through 2020-2021. The earlier wiki framing that the Treasurer's office relocated from State Capitol Suite 220 to the Victory Building "around 2021" is therefore refined: the office was at 1401 W Capitol Ste 275 from at least January 2019; Computershare's records lagged. ## What the wiki does NOT yet document about Sanson Sanson's career trajectory after departing the Treasurer's office (likely late 2019 or early 2020), her role on substantive investment-policy decisions during her Milligan-era Chief Investment Officer tenure, and her relationship with subsequent Treasury investment staff (Gladden, Pulley, Romanik, Dortch) are not documented in this batch. The Communications binders (R2 Sub-batch 3, not yet ingested) are the most likely location for any pre-2020 Sanson Israel Bonds substantive correspondence. ## Cross-references [[treasury-foia-r2-9-23-25]] source page [[celeste-gladden]] post-Sanson Treasury Investment Manager; Sanson's operational successor [[jason-brady]] Treasury Chief Deputy Treasurer-Operations who was the Auditor's-office originating contact for the first Israel Bonds outreach to Sanson in January 2018 [[dennis-milligan]] Treasurer whose era covers Sanson's documented Treasury tenure [[lawrence-berman]] DCI National Managing Director who pitched the first Israel Bonds purchase to Brady-Sanson in January 2018 [[luis-jimenez]] DCI Associate Director who handled the operational coordination with Sanson on the 2018 and 2019 purchases [[brad-young]] DCI Executive Director (Southeast Region) cc'd on the 2018-2019 Sanson correspondence [[state-treasurer-israel-bonds-holdings]] [[state-treasurer-israel-bonds-operations]] holdings and operations concept pages