Democrat Grimm Won’t Seek A Third Term As Treasurer

State Treasurer Dan Grimm, a powerful Democratic insider at the Capitol for two decades, announced Tuesday that he won’t seek a third term.

Grimm told his staff he’ll work on forming a national association of public pension fund trustees, hoping to improve the management of funds that have become a central source of the nation’s capitol. Grimm’s deputy, Ann Daley, said she will run for the Democratic nomination.

Daley also has been a longtime power at the Capitol, serving as a top aide in both houses of the Legislature, as gubernatorial assistant, state budget director and chief of the Higher Education Coordinating Board before taking the No. 2 post at the state treasury.

Lucy De Young, a longtime civic leader in Woodinville, is the only announced Republican candidate. She belongs to the moderate wing of the GOP.

Grimm, 47, said he realized last weekend he was more interested in other projects than in running for reelection.