Federal Reserve, "Randal K. Quarles submits resignation..." Nov. 8, 2021

Archived source: Federal Reserve, "Randal K. Quarles submits resignation..." Nov. 8, 2021. Captured from www.federalreserve.gov.

Full text

A lock () or https:// means you've safely connected to the .gov website. Share sensitive information only on official, secure websites.

Stay Connected

Federal Reserve Facebook Page

Federal Reserve Instagram Page

Federal Reserve YouTube Page

Federal Reserve Flickr Page

Federal Reserve LinkedIn Page

Federal Reserve Threads Page

Federal Reserve X Page

Federal Reserve Bluesky Page

Recent Postings

Calendar

Publications

A-Z index

Videos

Toggle Dropdown Menu

Sections

Press Releases

Press Release

November 08, 2021

Randal K. Quarles submits resignation as a member of the Federal Reserve Board, effective at the end of December

For release at 11:00 a.m. EST

Randal K. Quarles submitted his resignation Monday as a member of the Federal Reserve Board, effective at the end of December. He served as the Board's first Vice Chair for Supervision and has been a member of the Board since October 13, 2017.

As Vice Chair for Supervision, he oversaw the supervision and regulation of financial firms in the Board's jurisdiction. He served simultaneously as Chair of the Financial Stability Board, or FSB, an international body established by the G20 to ensure the resilience of the global financial system. His three-year term as FSB Chair ends on December 2.

In both positions, he played a central role in ensuring the safe operation of both the domestic and international financial systems during the stress of the COVID event.

Prior to his appointment to the Board, Quarles was founder and managing director of the Cynosure Group, a private investment firm. He also served in a variety of senior positions at the Treasury Department under both Bush administrations, including Under Secretary for Domestic Finance, was the U.S. Executive Director of the International Monetary Fund, and was a partner at both the Carlyle Group, and earlier, Davis Polk & Wardwell. He is married with three children and is from Utah.

A copy of his resignation letter is attached.

For media inquiries, email [email protected] or call 202-452-2955.

Attachment (PDF)

Last Update:
November 08, 2021

File and source

File

other20211108a-htm_c6b1f8cb6a0ff3c1.html

Size

84,488 bytes

SHA-256

64a9e2b4fa2640562ddccf74639661c41ec9b603ea5e05cad4730339d9f9c677

Our copy

other20211108a-htm_c6b1f8cb6a0ff3c1.html

Original

www.federalreserve.gov