Seth Metcalf


Seth Metcalf is president of the board of directors of the State Financial Officer Foundation (SFOF). He is also the chief financial officer of a commercial insurance exchange called Bold Penguin in Columbus, Ohio. 

From 2011–17, Metcalf served as deputy treasurer and executive counsel for then Ohio State Treasurer Josh Mandel. In addition, he previously served as a trustee for both the Ohio Public Employees Retirement System and the Ohio Deferred Compensation Plan.

Metcalf’s relationship with the state of Ohio is a bit muddied by concerns about his role in a failed bid to manage billions of dollars in its teachers’ pension fund. After leaving the treasury in 2017, he founded QED Management and pitched a $65-billion investment partnership to the administrators of the Ohio State Teachers Retirement System. After they turned him down, he accused the pension administrators of launching a smear campaign against QED.  

Metcalf started his career as a tax and bond lawyer, and worked at an international law firm. He holds a bachelor’s degree from Ohio State University and a law degree from Cornell.


  • Presented awards at SFOF’s 2022 National Meeting (2/16/22)
  • Presented awards at SFOF’s 2021 Fall National Meeting (11/3/21)

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