Wyoming
Wyoming’s Highest Paid Administrator Makes $525K, Manages $30B In…
The highest paid state government administrator makes more than $525,000 a year, and most people in Wyoming have likely never heard of him.
He’s Chief Investment Officer Patrick Fleming, who recently announced he’ll step down from the post next June.
According to the state auditor’s office, Fleming made $525,959 in 2023, more than any other elected official or department head in the state. After tax deductions, Fleming’s take-home pay was $367,771.
The only Wyoming state employees making more than Fleming in 2023 were involved with University of Wyoming athletics: former UW football coach Craig Bohl, former UW men’s basketball coach Jeff Linder and the university’s athletic director, Tom Burman. That’s according to government spending website Openthebooks.com.
How It Compares
As chief investment officer, Fleming is responsible for managing the state’s more than $30 billion worth of non-pension assets.
In a statement, Fleming said he’s looking forward to spending more time with family and friends.
“I really enjoy my work and am proud of how our office has grown and what we have accomplished,” Fleming said. “There are still a few things I’d like to see us complete before I step aside at the end of June, but I felt it was appropriate to announce this decision now so I can help the Treasurer work with the Legislature and create a generational fund – which I also believe is vital for our State’s future – as well as provide ample time to implement a succession plan.”
Since joining the state in 2014, Fleming helped grow Wyoming’s sovereign wealth fund from $19.5 billion to more than $30 billion, with nearly $9 billion used during that time to support the state’s budget and an additional $450 million in revenue produced over the last six years.
State Treasurer Curt Meier highlighted Fleming’s record in a press release announcing his retirement.
“The job Patrick has done during his tenure has been vital to the well-being of the entire state,” Meier said in the press release. “The earnings distributed as part of the budget funding is equivalent to about a third of all the State’s revenues during that time period. This has decreased the tax burden on our citizens while preserving services vital to the Cowboy State.”
Grew Wyoming’s Investments
Masoudi Hesam, the chief investment officer for the Wyoming Retirement System, made only $440 less than Fleming in 2023 at $525,519.
Meier told Cowboy State Daily where Fleming made his biggest impact was in the mentorship he showed to his staff, which he grew to a team of 10 during his time. He also said Fleming was adept at understanding the world’s markets and how they could affect Wyoming’s investments and investment opportunities.
Under Fleming’s watch, the treasurer’s office also instituted a volatility-based risk measurement system while moving away from traditional equity and bond approaches.
Gov. Mark Gordon, who worked directly with Fleming when the governor was state treasurer, also commended Fleming’s “unwavering commitment to Wyoming and ability to explain complex financial ideas in a way that gave confidence to policymakers paved the way for the program to evolve into the bellwether sovereign wealth investment house it has become.”
“Every Wyoming citizen has more money in their pocket as the result of his skill and leadership,” Gordon said. “Beyond his service to the state, though, Patrick is a real friend who has always put Wyoming first. He will be missed.”
According to the treasurer’s office, Fleming previously spent 30 years working in Tokyo, Hong Kong, London and New York specializing in domestic and global bond markets, equities and commodities. He also is the former CEO of a 77-year-old investment firm in New York and taught corporate finance, investment management and energy trading at the University of Wyoming.
Industry Standard
State Rep. Liz Storer, D-Jackson, a member of the Select Committee on Capital Financing and Investments which has been critical at times of the state’s investing decisions, said Fleming’s pay is somewhat competitive when compared to what’s offered in the investment industry.
Anything less, she said, and the state would be forced to hire people with less experience that would likely leave as soon as they were offered a higher paying opportunity.
“It’s pretty equitable with the capital finance performance pay for positions of CIO as well as investment managers and how they’re paid in the real world,” Storer said. “It’s kind of what you need to pay in order to be competitive.”
Meier went even further, arguing that the base salaries paid out in his office as well as the Wyoming Retirement System are “well below” industry standards.
“Even after exceeding our benchmarks for each of the past five years, the overall pay package barely gets them to the medium,” he told Cowboy State Daily.
Fleming made $275,959 in his base salary and an additional $250,000 in performance compensation in 2023.
“If you pay for performance, at least you can retain them for longer,” Storer said.
The treasurer’s office will begin the process of finding a CIO in the coming months.
Storer said she’d like to see a strong emphasis made on experience in private equity and an understanding of the world markets for the state’s next CIO.
Meier said he hopes to find someone with similar professionalism and experience to Fleming, who he said he will utilize for input during the hiring process.
Leo Wolfson can be reached at leo@cowboystatedaily.com.
Wyoming
Wyoming High School Basketball 2A State Tournament 2026
The 2-time defending champ Tongue River girls, along with both teams from Big Horn will represent Sheridan County in the small school version of March Madness.
Click here to see results from the regional tournaments.
2A Boys:
First Round:
Thursday, March 5th: (All games played at Casper College)
(#2E) Big Horn vs. (#3W) Shoshoni – Noon
(#1W) Thermopolis vs. (#4E) Sundance – 1:30pm
(#2W) Wyoming Indian vs. (#3E) Wright – 6:30pm
(#1E) Pine Bluffs vs. (#4W) Rocky Mountain – 8pm
Friday, March 6th: (All games played at Ford Wyoming Center)
Consolation Round:
Big Horn/Shoshoni loser vs. Thermopolis/Sundance loser – Noon LOSER OUT!
Wyoming Indian/Wright loser vs. Pine Bluffs/Rocky Mountain loser – 1:30pm LOSER OUT!
Semi-Finals:
Big Horn/Shoshoni winner vs. Thermopolis/Sundance winner – 6:30pm
Wyoming Indian/Wright winner vs. Pine Bluffs/Rocky Mountain winner – 8pm
Saturday, March 7th:
Friday Noon winner vs. Friday 1:30pm – Noon at Ford Wyoming Center Consolation Championship
Friday 6:30pm loser vs. Friday 8pm loser – 3pm at Natrona County High School 3rd Place
Friday 6:30pm winner vs. Friday 8pm winner – 7pm at Ford Wyoming Center Championship
2A Girls:
First Round:
Thursday, March 5th: (All games played at Casper College)
(#2W) Wyoming Indian vs. (#3E) Big Horn – 9am
(#1E) Sundance vs. (#4W) Shoshoni – 10:30am
(#2E) Tongue River vs. (#3W) Greybull – 3:30pm
(#1W) Thermopolis vs. (#4E) Pine Bluffs – 5pm
Friday, March 6th: (All games played at Ford Wyoming Center)
Consolation Round:
Wyoming Indian/Big Horn loser vs. Sundance/Shoshoni loser – 9am LOSER OUT!
Tongue River/Greybull loser vs. Thermopolis/Pine Bluffs loser – 10:30am LOSER OUT!
Semi-Finals:
Wyoming Indian/Big Horn winner vs. Sundance/Shoshoni winner – 3:30pm
Tongue River/Greybull loser vs. Thermopolis/Pine Bluffs loser – 5pm
Saturday, March 7th:
Friday 9am winner vs. Friday 10:30am winner – 9am at Ford Wyoming Center Consolation Championship
Friday 3:30pm loser vs. Friday 5pm loser – 10:30am at Ford Wyoming Center 3rd Place
Friday 3:30pm winner vs. Friday 5pm winner – 5:30pm at Ford Wyoming Center Championship
Wyoming
Wyoming Crow Hunters Can Blast All They Want, But Nobody Eats The Birds
Mention of bird hunting might conjure up images of hunters and their dogs huddling in freezing duck blinds or pounding the brush in hopes of kicking up pheasants. But crow hunting is a thing in Wyoming too.
“It’s about the sport of it,” Dan Kinneman of Riverton told Cowboy State Daily.
He started crow hunting when he was 14 and is about to turn 85. He’s never tried cooking and eating crows or known anybody who has.
Instead, shooting crows is essentially nuisance bird control, as they’re known to wreak havoc on agricultural crops.
“All the ranchers will let you hunt crows. I’ve never been refused access to hunt crows. They all hate them,” he said.
In Wyoming, crow hunting season runs from Nov. 1 to Feb. 28. No license is required, and there’s no bag limit. Hunters can shoot all the crows they want to.
It’s a ball for hunting dogs too, Kinneman said.
“My yellow Labrador retriever, he doesn’t care whether it’s a crow or duck. In fact, he likes crow hunting more than duck hunting, because there’s more action,” he said.
Don’t Expect It To Be Easy
Kinneman said that in the days of his youth, crow hunting was as simple as driving around and “shooting them out of trees with rifles.”
However, as the number of people and buildings potentially in the paths of bullets grew, such practices fell out of favor. Crow hunting became more regulated.
And it evolved to resemble hunting other birds, such as waterfowl.
Meaning, hunters started setting out decoys, hiding in blinds and using calls to tempt crows to within shotgun range.
Kinneman is no stranger to hunting of all types. He’s taken numerous species of big game in Wyoming and elsewhere. And in July 2005, he shot a prairie dog near Rock Springs from well over a mile away.
He hit the prairie dog from 2,157 yards away. A mile is 1,760 yards.
But bird hunting has always been his favorite.
“It’s my life,” he said.
He has a huge collection of duck, goose and dove decoys. And two tubs full of crow decoys.
The uninitiated might think that going out and blasting crows would be a slam dunk.
That isn’t so, Kinneman said. He likes crow hunting for the challenge of it.
“Hunting crows is hard. They are a lot smarter than ducks and geese,” he said.
Pick Up After Yourself
Even though he doesn’t eat crows, Kinneman said he never just left them littering the ground where he shot them.
“I never let them lay out there. I always picked them up and disposed of the carcasses,” he said.
That’s good ethics and it shows respect for the ranchers, he said.
“Leaving them (dead crows) out there would be no different than just leaving all of your empty shotgun shells out there,” he said.
“You have to pick up after yourself, or the ranchers won’t let you back onto their land,” he added.
Slow Year
At his age, Kinneman isn’t sure how much longer he’ll be able to get out crow hunting. And this year has been a total bust.
“I love doing it. But this year there are no crows,” he said.
The Riverton area is along major crow migration routes.
Picking a good hunting spot is a matter of “finding a flyway” that the crows are on and then setting up a spread of decoys and a blind along the route.
But with an unusually warm winter, the crow flyways have been practically empty, he said.
Migrations Are Off Everywhere
Avid birdwatcher Lucas Fralick of Laramie said that warm, dry conditions much of this winter have knocked bird migrations out of whack.
“I do know that because of the weather, migrations are off all over the place,” he said.
One of his favorite species is the dark-eyed junco, a “small, sparrow-like bird,” he said.
They usually winter in the Laramie area and leave right around March. This year, they were gone by November, he said.
“They’re a cold-weather bird,” he said.
Mark Heinz can be reached at mark@cowboystatedaily.com.
Wyoming
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