First American Funds Board of Trustees

The First American Funds Board of Trustees is 100% independent, with seven trustees headed by P. Kelly Tompkins. Mr. Tompkins has served as the independent chair of the board since 2024, having joined the board in 2019. As chair of the First American Funds’ board, Mr. Tompkins 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' trustees 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 Mark Gaumond, Jennifer McPeek, P. Kelly Tompkins, James McDonald and Harpreet Saluja. 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 Trustees; and
  • Selecting and evaluating the funds' independent auditors.

Governance Committee - The Governance Committee is chaired by Jennifer McPeek and also includes David Baumgardner, Mark Gaumond, P. Kelly Tompkins, James McDonald and Harpreet Saluja. The committee has a number of responsibilities, including overseeing:

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

P. Kelly Tompkins

Chair, First American Funds Board

P. “Kelly” Tompkins has served as independent chair to the First American Funds Board of Trustees since 2024, having joined the Board in 2019.

Kelly has more than 20 years of executive experience in the areas of finance and law. Kelly currently serves as senior advisor at Dix & Eaton, a regional investor and public relations advisory firm, and leader-in-residence at Cleveland State College of Law. Kelly has also been appointed by Ohio Governor Mike DeWine to serve as a Trustee on the Cleveland State University Board of Trustees for a term ending May 1, 2031. Kelly is also a board member of the Ohio Access to Justice Foundation and chairs the Nominating and Governance Committee.

Prior thereto, Kelly held numerous executive leadership positions at two NYSE-listed companies including executive vice president, chief operating officer and chief financial officer at Cleveland-Cliffs, Inc, and executive vice president and chief financial officer at RPM International, Inc.  Kelly has also served as chief legal officer and board secretary at both companies.

Kelly holds a B.A. from Mercyhurst University and a J.D. from Cleveland State College of Law. 

David Baumgardner

David Baumgardner

Trustee, First American Funds Board; Chair of the Audit Committee

David "Dave" K. Baumgardner joined the First American Funds Board in 2016 as an independent trustee. He currently chairs the audit committee. 

Prior to his retirement in 2022, Dave was chief financial officer of Smyth Companies, LLC and held numerous executive positions within the last 29 years with the company. He previously held a senior management position with the Certified Public Accountant (CPA) firm Taylor McCaskill & Company.

Dave has previously served as a trustee for the Graphics Arts Industry Joint Pension Trust and as chairman of the Printing Industry of Minnesota Financial executives committee. He serves as trustee and chairman of the GCIU Local 1B Health and Welfare Fund.

He is a CPA and holds a B.A. in accounting and an M.B.A. from the University of St. Thomas.

Mark E. Gaumond

Mark E. Gaumond

Trustee, First American Funds Board

Mark E. Gaumond joined the First American Funds Board in 2016 as an independent trustee.

Prior to his retirement in 2010 from Ernst & Young, Mark held numerous executive leadership positions including senior vice-chair of Americas and managing partner of the San Francisco office.

Mark currently serves as a director of Booz Allen Hamilton Corporation Inc. and the Walsh Park Benevolent Corporation. He formerly served as director of Rayonier, Inc., Rayonier Advanced Materials, Inc. and Cliffs Natural Resources Inc. and as trustee of The California Academy of Sciences.

Mark holds an A.B. from Georgetown University and an M.B.A. from New York University Stern School of Business.

He is a member of the American Institute of Certified Public Accountants.

James D. McDonald

James D. McDonald

Trustee, First American Funds Board

James “Jim” D. McDonald joined the First American Funds Board in 2023 as an independent trustee.

Jim has more than 25 years of executive experience in the financial services industry. Prior to his retirement in March 2023, Jim was Executive Vice President and Chief Investment Strategist at Northern Trust Investments, Inc. since 2014. Prior thereto, he was a Senior Vice President and Chief Investment Strategist at Northern Trust Investments, Inc. from 2009 to 2014 and Director of Equity Research at Northern Trust Investments, Inc. from 2001 to 2009. Prior to joining Northern Trust in 2001, Mr. McDonald was Director of Research at ABN AMRO in New York and Chicago (1994 to 2000) and an Equity Research Analyst at ABN AMRO following the Environmental Services Industry (1990 to 1994). He started his professional career in 1981 with Arthur Andersen & Co. in Detroit. 

Jim holds a B.B.A. degree from the University of Michigan and an M.B.A. from Babson College. He is a Registered Certified Public Accountant in the State of Michigan.

Jennifer McPeek

Jennifer McPeek

Trustee, First American Funds Board; Chair of the Governance Committee

Jennifer J. McPeek joined the First American Funds Board in 2019 as an independent trustee. She currently chairs the governance committee.

Jennifer has more than 20 years of executive experience in the financial services industry. Jennifer was previously chief financial officer of Russell Investments, and served prior to that as chief operating officer and chief strategy officer of Janus Henderson Group plc. Prior thereto, Jennifer held numerous executive leadership positions, including executive vice president and chief financial officer at Janus Capital Group Inc.

Jennifer has also held directorships on various investment advisor and/or trust entities. She currently serves as director for Cboe Global Markets, Inc.

Jennifer holds a B.A. in mathematics and economics from Duke University, an M.B.A. from the Massachusetts Institute of Technology and holds the Chartered Financial Analyst designation.

Harpreet Saluja

Harpreet Saluja

Trustee, First American Funds Board

Harpreet Saluja joined the First American Funds Board in 2023 as an independent trustee.

Harpreet has more than 25 years of executive experience in the areas of corporate strategy, global M&A transactions and finance. Harpreet currently serves as Senior Vice President of Corporate Development and Planning at Eaton, an intelligent power management company. Prior thereto, she worked at Tenneco Automotive with roles in International Business Development and Global Integration.

Harpreet serves on several Boards, including Business Volunteers Unlimited. She has served on Boards in various capacities that include Strategic Planning, Community and Equity committees.

Harpreet holds a bachelor’s in psychology and mathematics and bachelor’s in law from Punjab University, India, and master’s in business administration from  the University of Michigan’s Ross School of Business.