Dallas Fed Announces New President

Check. At first blush Robert Steven Kaplan, just selected as the new president and CEO of the Federal Reserve Bank of Dallas, seems pretty much like the old president and CEO he’s replacing, Richard Fisher. Kaplan may have success Richard Fisher, who exactly former in March after 10 yrs primary the Dallas Fed.

Kaplan will represent the regional bank at the Fed’s monetary policy committee and will have responsibility for regulating banks in the Dallas district, which comprises Texas, northern Louisiana and southern New Mexico.

The Dallas Fed president rotates into a voting spot on the Fed’s policy-setting panel in 2017, and takes part in policy discussions at the central bank’s regular meetings. The U.S. central bank’s policy makers are weighing when and how quickly to raise interest rates, which have been held near zero since 2008. The search firm deferred to the Dallas Fed when it came to questions about Mr. Kaplan.

Even so, Conti-Brown praised the choice. “This is someone who’s connected to Washington, he’s connected to academia, and he’s connected to Wall Street”. Newly installed Philadelphia Fed President Patrick Harker was involved with the investment bank. He also will oversee 1,200 employees at the Dallas Fed, which includes branches El Paso, Houston and San Antonio.

Before becoming a member Harvard in 2006, he would be a vice president at Goldman Sachs, in control of the megabank’s financial and expense regulation subsidiaries. Kaplan chairs the investment advisory committee at Google Inc. Kaplan is the author of a number of books on business leadership. The Dallas Fed said in its statement that he would step down from these positions before taking his now post.