Stepping down as the U.S. Ambassador to Sweden, Louisville technology entrepreneur Matthew Barzun will be President Barack Obama’s re-election campaign finance chair.

Political observers have estimated Mr. Obama’s bid in 2012 could be the first to raise $1 billion, and plucking a finance guru like Barzun is a sign that’s a serious goal.

From the Boston Globe:

Barzun, a 40-year-old Harvard College graduate, will serve as national finance chairman for Obama for America, the president’s Chicago-based campaign committee. He is replacing Penny Pritzker, the Chicago billionaire who helped raise nearly $750 million for Obama’s 2008 campaign.


“Not only was Matthew Barzun one of the Obama campaign’s top fundraisers in 2008, but he also brings strong working relationships with President Obama’s supporters from across the country to this race,” said a national Democrat who confirmed the appointment today.

During the 2008 campaign, Barzun was praised as the one who came up with the idea to use the Internet to organize small-dollar contributors.