Judith Rice is stepped down on Dec. 1 from her role as the Chicago's treasurer.
She stated that she left the position to spend more time with her family, 'which is growing older and needs more of my time,' according to a statement released by the mayor's office.
Stephanie Neely, vice-president of institutional sales with Northern Trust, replaced Rice. Neely, 43, has managed public finance operations for a number of Chicago firms over the last 16 years and serves on the board of the Illinois Sports Facilities Authority.
Mayor Richard Daley appointed Rice as treasurer in 2000, and she was later elected to the post in 2003. During a 25-year career in public service, Rice has served as commissioner of the city's departments of transportation, water and revenue as well as an assistant corporation counsel and assistant state's attorney.
After leaving her post as treasurer, Ricewho served as an honorary co-chair for the 2006 Gay Games and who has supported numerous HIV/AIDS and GLBT organizationsjoined Daley's staff as his assistant for special projects and will work on economic development proposals.