Dan Schwartz

Schwartz began his financial career in private placements at First City National Bank of Houston in 1978. The bank, which became First City Bancorporation of Texas, Inc. was the largest bank in Texas during the 1970s.[7] In 1982, he briefly worked in corporate finance at Keefe, Bruyette & Woods in New York, New York before going on to work for Daiwa Capital Markets, where he started their mergers and acquisitions department and was a member of the team that underwrote the first Euroyen bond for an overseas company - Sears.[8] He then joined Becker Paribas Inc., where he was part of the group which started Paribas Merchant Banking Group in 1985.

In September 1986, Schwartz founded his own boutique financial advisory firm, Ulmer Brothers, Inc., specializing in cross-border mergers and acquisitions. While at Ulmer Brothers, Schwartz advised on the first IPO of a Japanese subsidiary of a U.S. company in 1989. The firm also published several newsletters and journals, which captured Schwartz's interest. He soon shifted his career path to financial publishing.

In 1993, Schwartz purchased the Asian Venture Capital Journal (AVCJ) in Hong Kong. AVCJ became a leading source of information on Asian private equity and venture capital, and its AVCJ Forum became the top private equity and venture capital event in Asia.[9] AVCJ also became the first company to distribute the digital edition of a print publication in 1998. The company was purchased by British publishing company Incisive Media in 2006. AVCJ was subsequently sold to BC Partners-owned Mergermarket Group in 2015.[10][11] Schwartz relinquished his title of Chairman Emeritus of AVCJ in 2008.[12]

In 1998, Schwartz founded Qiosk.com, an online news aggregator and distributor, which became one of the early pioneers of delivering print publications via the internet. He is still a majority shareholder in the company today.[13]

Schwartz entered a competitive race for United States House of Representatives in Nevada's newly created 4th congressional district.[13] He finished behind current Nevada Secretary of State Barbara Cegavske and the eventual nominee Danny Tarkanian.[14]

Schwartz told the Las Vegas Review-Journal in a 2013 interview that he supported giving amnesty to the 11 Million illegal immigrants living in the United States. [15]

From 2012 to 2014, Schwartz served as Finance Chair for the Nevada Republican Party.[13]

On September 18, 2013, Schwartz announced his candidacy for Nevada State Treasurer at a meeting of the Clark County Republican Party Central Committee in Las Vegas, Nevada. His campaign was largely focused on improving returns on the State's funds while protecting and expanding college scholarship and savings programs.[13]

During the 78th session of the Nevada Legislature, Dan Schwartz publicly questioned Nevada Governor Brian Sandoval's proposed $7.3 billion budget, which contained $1.1 billion in tax increases.[16] Schwartz presented a three-page spending priorities list to the Senate Finance Committee, which received bi-partisan opposition.[17]

Former Republican Chairman of the Assembly Budget Committee, Paul Anderson, said about working with Schwartz as Treasurer, "that there’s a “history of being disingenuous or dishonest, and I’m not sure which it is." [18]

Schwartz has stated he is in favor of gun confiscation concerning alleged assault rifles. Schwartz told KUNR in an interview. "But I’m not going to touch guns. I’m not going to take anyone’s guns away. As I said, except assault rifles – which no one really needs."[19]

Nevada's ESA bill was passed in the 2015 legislature, to be administered by the Nevada Treasurer's office, and is called the first universal ESA program in the nation.[20] The program seeks to improve Nevada's ranking among the 50 states.[21]

After Schwartz's office adopted and published regulations, two court cases were filed against the ESA program. The first lawsuit, by the ACLU (Duncan v. Nevada), was filed in Las Vegas and argued that the program was not constitutional. They claimed the program violated Nevada's Blaine Amendment, which states: "no public funds of any kind or character whatever, State, county or Municipal, shall be used for a sectarian purpose."[22] District Court Judge Eric Johnson dismissed the case in May 2016, ruling the program to be "neutral with respect to religion."[23]

The second lawsuit, by Educate Nevada Now and promoted by The Rogers Foundation (Lopez v. Schwartz), was filed in Carson City, Nevada. This case challenged a different constitutional provision. District Court Judge James Wilson placed a temporary injunction on the program in January 2016 stating that public school dollars would go toward private schools, preventing full implementation.[24]

The losing side in each case appealed the decision, and the Nevada Supreme Court heard both cases on the same day in July 2016. The Court upheld the lower decision in Duncan v. Nevada, ruling that the program was constitutional, and also upheld the lower decision in Lopez v. Schwartz, finding that the funding mechanism was defective.[25]

Treasurer Schwartz urged Governor Sandoval to take up the ESA funding issue in an October 2016 Special Session of the Nevada Legislature designed to approve funding for an NFL stadium, so that the program could continue for the 8,000 families who have already signed up for the program.[26]

Schwartz has repeatedly called into question the viability of a $1 billion Faraday Future electric vehicle plant in North Las Vegas, Nevada, after LeEco, the internet company belonging to the billionaire Chinese entrepreneur behind Faraday Future, Jia Yueting, suspended trading in his public company, Leshi, in December 2015.[27] It was during that same month that the Nevada Legislature approved $335 million in incentives to lure Faraday to the state.[28]

In mid-November 2016, Faraday Future announced that it had suspended construction on the plant.[29] In December 2016, Leshi again suspended trading in its shares due to a cash crunch and rumored margin calls on borrowings by Jia Yueting.[30]

On September 5, 2017, Schwartz announced that he intended to seek the Republican nomination for Governor of Nevada[31]

On June 12, 2018, Schwartz managed to claim less than 10% of the vote and lost by more than 60% in the Republican primary. He then endorsed state attorney general Adam Laxalt who later lost to Steve Sisolak. [32]

Schwartz as gubernatorial candidate has stated in 2018 that he is in favor of gun confiscation concerning alleged assault rifles. Schwartz told KUNR in an interview. "But I’m not going to touch guns. I’m not going to take anyone’s guns away. As I said, except assault rifles – which no one really needs."[33]

Schwartz has also pursued other objectives at the Treasurer's office. He has reduced the number of process days from 120 to same-day processing for unclaimed property claims, combined and strengthened the college savings program, refunded the State's debt to produce $80 million in annual savings, has authored bills to curb the abuses of payday loans, and suggested a major overhaul of the State's tax system.[34][35][36]