FSB announces appointment of new FSB Chair and Vice Chair

The Plenary of the Financial Stability Board (FSB) has announced the appointment of Randal K. Quarles (Governor and Vice Chairman for Supervision at the US Federal Reserve) as its new Chair and Klaas Knot (President of De Nederlandsche Bank) as Vice Chair, for a three-year term starting on 2 December 2018. Randal K. Quarles will replace Mark Carney, who has served as Chair for the past 7 years.

The Plenary also agreed that after three years on 2 December 2021 Mr Knot will take over as Chair for the next three-year term.

Plenary members unanimously welcomed the appointments, which were made at the recommendation of a specially constituted Nominations Committee.