LITTLE ROCK, Ark. – Gov. Sarah Huckabee Sanders named a new State Treasurer Thursday, with Larry Walther taking over the role.

Walther had been serving as the state’s Chief Fiscal Officer and the Secretary of the Arkansas Department of Finance and Administration. He was appointed to that role in 2015 by then Gov. Asa Hutchinson.

Before serving with the DFA, Walther served on the Board of Directors for the Export-Import Bank of the United States after being nominated to the post by President Barack Obama. This came after Walther served in the George W. Bush administration as the Director of the U.S. Trade and Development Agency.

His first job in public service came via Sanders’ father, when then Gov. Mike Huckabee named him as director of the Arkansas Economic Development Commission.

His governmental career followed a successful turn in the private sector, where he started as an engineer with SBC Communications before rising to the role of Vice President of Corporate Services and head of the company’s foundation.

In announcing her decision, Sanders lauded his past service to the state and the country, noting his effectiveness at streamlining DFA services and modernizing the agency.

“We need a steady hand and savvy head for business to oversee our state’s investments, and Larry has both,” she said.

Walther succeeds State Treasurer Mark Lowery, who died last week at the age of 66. Lowery had faced multiple heath issues ahead of his passing, including two strokes in a span of a few months.