Board of Directors

First American Funds Board of Directors

The First American Funds Board of Directors is 100% independent, with seven directors headed by Mark Gaumond. Mr. Gaumond has served as the independent chair of the board since 2020, having joined the board in 2016. As chair of the First American Funds’ board, Mr. Gaumond leads the board in all aspects of its responsibilities, including those relating to oversight of the funds, governance, compliance, and shareholder relations.

First American Funds' directors have four regularly scheduled meetings each year and hold additional meetings, as necessary.

Audit Committee - The Audit Committee is chaired by David Baumgardner and also includes Roger Gibson, Mark Gaumond, Jennifer McPeek, C. David Myers and P. Kelly Tompkins. Among the committee's responsibilities are:

  • Overseeing the funds' accounting and financial reporting policies and practices and internal controls;
  • Reviewing the funds' financial statements and independent audit;
  • Acting as a liaison between the funds' independent auditors and the Board of Directors; and
  • Selecting and evaluating the funds' independent auditors.

Governance Committee - The Governance Committee is chaired by Roger Gibson and also includes David Baumgardner, Mark Gaumond, Jennifer McPeek, C. David Myers and P. Kelly Tompkins. The committee has a number of responsibilities, including overseeing:

  • Board composition;
  • Committee structure;
  • Director education; and
  • Governance practices (including the periodic review of published industry "best practices").