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Edisto Island resident appointed chair of BEA

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Gov. Henry McMaster has appointed Edisto Island resident Edward Grimball to serve as chairman of the state Board of Economic Advisors.

With more than three decades of executive-level experience in business and banking, Grimball most recently served as CFO and board member of Maine-based Hydro-Photon Inc., a provider of handheld UV portable water purification systems.

The 72-year-old Grimball also previously served as executive vice president and CFO at Whitney Holding Co., where he oversaw the management of a $3 billion investment portfolio. The privately held firm is headquartered in New Orleans.

Grimball, an S.C.-licensed CPA, graduated from The Citadel in 1966 and earned an MBA from the University of Virginia in 1969.

“In order to govern effectively with an accurate idea of what to expect in the future, the executive and legislative branches must be able to depend on the information given by the BEA,” McMaster said in a statement announcing Grimball’s appointment. “With Mr. Grimball as chairman, I have no doubt that the research and analysis provided will be reliable and will serve the state well.”

The board is responsible for overseeing the operations of the S.C. Revenue and Fiscal Affairs Office, which provides fiscal and statistical analysis, services and reports for the governor, the General Assembly, state and local government entities, and the private sector.

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