Randy Quarles | |
|---|---|
 | |
| Chair of the Financial Stability Board | |
| In office November 26, 2018 – December 2, 2021 | |
| Preceded by | Mark Carney |
| Succeeded by | Klaas Knot |
| Vice Chair of the Federal Reserve for Supervision | |
| In office October 13, 2017 – October 13, 2021 | |
| President | Donald Trump Joe Biden |
| Preceded by | Position established |
| Succeeded by | Michael Barr |
| Member of the Federal Reserve Board of Governors | |
| In office October 13, 2017 – December 25, 2021 | |
| President | Donald Trump Joe Biden |
| Preceded by | Jeremy C. Stein |
| Succeeded by | Michael Barr |
| 15th Under Secretary of the Treasury for Domestic Finance | |
| In office August 8, 2005 – October 13, 2006 | |
| President | George W. Bush |
| Preceded by | Brian Roseboro |
| Succeeded by | Robert K. Steel |
| Assistant Secretary of the Treasury for International Finance and Development | |
| In office April 2001 – August 8, 2005 | |
| President | George W. Bush |
| Preceded by | Edwin M. Truman |
| Succeeded by | Clay Lowery |
| Personal details | |
| Born | Randal Keith Quarles September 5, 1957 San Francisco, California, U.S. |
| Political party | Republican |
| Spouse | Hope Eccles |
| Relations | Spencer Eccles (father-in-law) |
| Children | 3 |
| Education | Columbia University (BA) Yale University (JD) |
| Signature |  |
Randal Keith Quarles (born September 5, 1957)[1][failed verification] is an American private equity investor and attorney who served as the first Vice Chair of the Federal Reserve for supervision from 2017 to 2021. He concurrently served as the chair of the Financial Stability Board from 2018 to 2021.
From August 2001 until October 2006, Quarles held several financial policy posts in the George W. Bush administration, ultimately serving as Under Secretary of the Treasury for Domestic Finance. After leaving the Bush administration, he became the founder and head of The Cynosure Group, a private investment firm, and a former managing director of The Carlyle Group,[2] one of the world's largest private equity firms.[3] In 2012, Quarles was widely mentioned as a possible Treasury Secretary or senior White House adviser in future Republican administrations.[4][5][6][7][8]
In July 2017, Quarles was nominated by President Donald Trump to be board member and vice chair for supervision of the Federal Reserve System. He was confirmed by the United States Senate on October 5, 2017,[9] by a 65–32 vote on the board seat and by voice vote on the vice chair position. The bank supervision position had been created under the 2010 Dodd-Frank financial law but had never before 2017 been filled.[10] He left the role of Vice Chair for Supervision in 2021 and retired from the Federal Reserve in 2021.[11]
- ^ System Timed Out (Library of Congress Online Catalog)
- ^ "The Carlyle Group : Quarles, Randal K". Archived from the original on July 8, 2011. Retrieved November 8, 2017.
- ^ Dan Briody, The Iron Triangle: Inside the Secret World of the Carlyle Group, John Wiley & Sons, 2003, ISBN 0-471-28108-5
- ^ "What Mitt Romney's economic team might look like - The Boston Globe". BostonGlobe.com. Archived from the original on March 4, 2016. Retrieved November 8, 2021.
- ^ Irwin, Neil (October 3, 2012). "What a Romney administration economic team might look like". Washington Post. Archived from the original on October 4, 2012.
- ^ Salmon, Felix (May 23, 2012). "Who will be the next Treasury secretary?". Reuters. Archived from the original on May 25, 2012.
- ^ "Who's on the short list for Obama's second-term economic team?". Washington Post. ISSN 0190-8286. Archived from the original on March 24, 2013.
- ^ White, Ben (August 10, 2012). "Treasury take III: Why it will be a budget guru - Scoop: Banks forced to make disaster plans - China export growth tanks - Tech blink: Can we trust Google?". POLITICO. Archived from the original on August 16, 2012. Retrieved November 8, 2021.
- ^ Cox, Jeff (October 5, 2017). "Senate votes to confirm Randal Quarles as Fed board member". CNBC. Retrieved October 5, 2017.
- ^ Tracy, Ryan, "Randal Quarles, Trump’s First Fed Nominee, Wins Senate Approval" (subscription required), Wall Street Journal, October 5, 2017. Retrieved October 5, 2017.
- ^ Cox, Jeff (November 8, 2021). "Randal Quarles to resign at year-end, paving way for Biden to further remake the Federal Reserve". CNBC. Archived from the original on November 8, 2021.