The UC Board of Regents last week elected Russell Gould to a one-year term as chair, succeeding Richard C. Blum.

Gould, who holds a bachelor’s degree in political science from UC Berkeley, served in Gov. Pete Wilson’s administration as secretary of the Health and Welfare Agency from 1991 to 1993 and director of the Department of Finance from 1993 to 1996. Gould has been serving this year as chair of the board’s finance committee.

Schwarzenegger appointed Gould to the Board of Regents in 2005; he is serving a 12-year term. He has been the board’s vice chair since last July 1, and his term as chair starts this July 1.

Gould has served as senior vice president of Wachovia Bank, providing leadership in business development and strategic partnerships as senior managing director of Wachovia Portfolio Serv-ices, formerly Metropolitan West Securities, which he joined in 1996.

While at Metropolitan West, Gould also served as executive vice president of the J. Paul Getty Trust, where he was responsible for the investments of the trust’s $5.5 billion in assets.

UC President Mark G. Yudof said, “Chairman Gould’s deep background and expertise in finance provides the university with a tremendous resource, not only to guide the board in its challenging decision making but to work closely with the administration to position us strategically for continued success. I greatly look forward to working with him as chair.”

The regents elected Sherry Lansing as vice chair for 2009-10. She is founder of the Sherry Lansing Foundation, and former chairman and chief executive officer of Paramount Pictures Motion Picture Group. She holds a bachelor‘s degree from Northwestern University. Gov. Gray Davis appointed her to the Board of Regents in 1999.