David Milby Will Support States in Facilitating the Return of Unclaimed Assets to Owners
David Milby, former director of the National Association of Unclaimed Property Administrators (NAUPA), has joined Avenu Insights & Analytics (Avenu) as program manager for the company’s MissingMoney (www.missingmoney.com) website.
In his position Milby will ensure that state treasurers, comptrollers, administrators and those in similar roles have a central location for channeling inquiries and input about the program. This starting point simplifies the process for citizens who may have unclaimed property in multiple jurisdictions.
As the former director of NAUPA, Milby understands the challenges facing states that find the rightful owners of stocks, insurance proceeds, dormant bank accounts and other unclaimed property collections that totaled $7.7 billion in FY2015. All businesses are required by law to report unclaimed accounts each year.
“As the only official location that presents an aggregate of unclaimed property availability, MissingMoney is an important tool for the unclaimed property programs as they put more money back into the hands of rightful owners every year,” says Paul Colangelo, CEO of Avenu. “David knows this process better than anyone and will be a great resource to expedite it as well as maintain our strong relationship with NAUPA.”