Magaziner announces candidacy for RI treasurer

The 30-year-old son of former Clinton administration policy adviser Ira Magaziner has formally announced his campaign for general treasurer of Rhode Island.

Democrat Seth Magaziner is running for the job currently held by Gina Raimondo, who's widely expected to run for governor.

Magaziner says in an online video announcing his candidacy Tuesday he's running to bring new ideas and energy to state government. He says rebuilding Rhode Island's flagging economy will be a centerpiece of his campaign.

He says if elected he would focus on the state's aging infrastructure, support for small businesses and "financial empowerment opportunities" in underserved communities.

Magaziner is vice president at the investment firm Trillium Asset Management.

Former Treasurer Frank Caprio and former state Auditor General Ernie Almonto are also running for treasurer as Democrats.