Board of Investors
About the Board
The TSET Board of Investors is responsible for investing annual payments resulting from the 1998 Master Settlement Agreement, in which tobacco companies agreed to compensate states for healthcare costs associated with tobacco use. The board is chaired by the State Treasurer of Oklahoma, who oversees TSET's investments along with designees of the Governor of Oklahoma, the President Pro Tempore of the Oklahoma Senate, the Speaker of the Oklahoma House of Representatives and the Oklahoma State Auditor and Inspector.
Todd Russ - Chair
Russ is a fourth-generation resident of Western Oklahoma. He earned a bachelor’s degree in Finance from Southwestern Oklahoma State University. Russ is also a graduate of the University of Colorado Graduate School of Banking. He has specialized training in Asset/Liability Management and Interest Rate Risk Analysis.
Russ was the founder of the Burns Flat-Dill City Educational Foundation. He was a charter member of the Oklahoma Southwest Economic Alliance. Russ served as a member of the Cordell City Council and on the advisory board for the Western Technology Center for Business. He is a member of Leadership Oklahoma.
Todd Russ has more than 30 years of banking experience. While President/CEO of the Washita State Bank in Burns Flat, his bank was rated as one of the top performing banks in the nation. Russ sold the majority of his bank stock and began management consulting with banks and businesses in 2008. He has been on the Board of Directors of the Oklahoma Bankers Association and Chairman of the OBA Small Bank Council.
Russ also served six terms (2010-2022) representing District 55 in the Oklahoma House of Representatives. During his tenure, he served as Chairman of the House Transportation Appropriations and Budget Committee and was a member of House Leadership.
Deborah Mueggenborg - Vice Chair
Deborah Mueggenborg, CPA, is the President of Stotts, Archambo, Mueggenborg & Barclay, PC, CPAs, a professional tax and accounting firm. In this role, Mueggenborg oversees the firm’s audit and accounting practice. Mueggenborg also serves as Treasurer of the Bartlesville Redevelopment Trust Authority as well as an Investment Advisor Representative with Archambo Financial Advisors, Inc. Prior to these roles, Mueggenborg last served as a partner at Archambo & Mueggenborg, CPAs. Mueggenborg graduated Magna Cum Laude from Southwestern Oklahoma State University with a degree in accounting.
John Waldo
John Waldo is a retired senior investment banker specializing in Oklahoma public finance. He provided investment banking services to the State of Oklahoma, City of Tulsa, City of Oklahoma City and over fifty issuers of taxable and tax-exempt debt. Prior to his investment banking career, John served as a Certified Public Accounting specializing in services to Oklahoma financial institutions. He serves on the finance committee for the City of Nichols Hills. He is currently a co-manager of family farming interests
Aaron Ackerman
Aaron Ackerman is a partner at HoganTaylor and leads the firm's Financial Management Services practice, which includes fractional CFO services, Transaction Advisory Services and Client Accounting Services. He is a CPA with more than 20 years of experience in both public accounting and private business in Oklahoma City. Over the course of his career, Ackerman has served clients in a wide variety of entities including nonprofit, manufacturing, construction and self-insurance funds. After transitioning to corporate accounting/finance he worked in energy services, television/online media and retail fuel. Ackerman has served as controller or CFO for a 50-year-old family owned business as well as a hedge fund backed start-up company.