The Federal Reserve Bank of Dallas today named Harvard business professor Robert Steven Kaplan as its new president and chief executive officer.
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Kaplan is now a professor at Harvard Business School and is involved in nonprofit work.
He will replace Richard Fisher, who was president from April 2005 to March 2015. Fisher’s retirement had been long expected, and some were caught off guard when a successor wasn’t selected more quickly. He told this reporter about his plans to retire in December 2013.
His appointment, announced Monday, comes after a lengthy search.
Kaplan will take over at the Dallas Fed on September 8.
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. He also will oversee 1,200 employees at the Dallas Fed, which includes branches El Paso, Houston and San Antonio.
He is on the board of Heidrick and Struggles, the search firm hired to seek candidates for the post, the Dallas Fed said, and was initially contacted about the position by a member of the bank’s search committee.
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“People are frustrated, heck, I’m angry”.
