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Salzburg Global Fellow Randal K Quarles confirmed as member of US Federal Reserve board

Former Treasury Department official will help oversee U.S. banking system

Randal K. Quarles at Session 563 - Financing the Global Economy: How Can Traditional and Non-Traditional Sources Be Integrated?

Oscar Tollast | 09.10.2017

Salzburg Global Fellow Randal K. Quarles has been confirmed by the U.S. Senate as a member of the Federal Reserve board.

Quarles, 60, was nominated by President Donald Trump in July to serve as the Federal Reserve's vice chairman for supervision.

Last week he won confirmation by a 65-32 vote in the Senate and became Trump's first confirmed Fed nominee.

Quarles is also the first person to serve in the role and become part of a new approach to financial regulation, as highlighted by The Economist.

Mr. Quarles previously worked in the Treasury Department under President George W. Bush between 2002 and 2006, serving first as assistant secretary for international affairs and then as under secretary for domestic finance.

In 2014, he helped establish the Cynosure Group, a Salt Lake City-based company which makes long-term equity investments in private companies across a range of industries.

Mr. Quarles has taken part in several programs at Salzburg Global. He first attended Schloss Leopoldskron in 2013 for Session 516 - Out of the Shadows: Regulation for the Non-Banking Financial Sector.

The following year, he was a participant at Session 546 - The Future of Banking: Is There a Sustainable Business Model for Banks? He took part in his third Salzburg Global Forum on Finance in a Changing World in 2015 when he attended Session 552 - The Future of Financial Intermediation: Banking, Securities Markets, or Something New?

His most recent appearance at the Forum, and Salzburg Global was in 2016 when he attended Session 563 - Financing the Global Economy: How Can Traditional and Non-Traditional Sources Be Integrated?

The Salzburg Global Forum on Finance in a Changing World is an annual high-level program convened by Salzburg Global which addresses issues critical to the future of financial markets and global economy in the context of key global trends. 

09.10.2017 Category: FELLOW UPDATES, FINANCE, JUSTICE, SALZBURG IN THE WORLD
Oscar Tollast