NEW YORK—The Federal Reserve Bank of New York announced that Glenn H. Hutchins has been reelected a Class B director of the New York Fed for a three-year term ending December 31, 2018.
Mr. Hutchins is a co-founder of Silver Lake, the global leader in technology investing. He has spent his business career investing in the most rapidly growing and dynamic companies in the United States and around the world. Mr. Hutchins is chairman of the board of SunGard Data Systems, Inc., and a director of both the NASDAQ OMX Group and AT&T.
Mr. Hutchins is active in public and charitable service. He served President Clinton in bot.h the transition and the White House as a Special Advisor on economic and healthcare policy. He is vice chairman of both the Brookings Institution and the Economic Club of New York; and a member of the Executive Committee of the New York Presbyterian Hospital. He is also director of the Harvard Management Company, which is responsible for the Harvard University endowment, and co-chairman of the University’s capital campaign. He is also a board member of the Center for American Progress as well as a Fellow of the American Academy of Arts and Sciences.
Mr. Hutchins and his wife, Debbie, founded the Hutchins Family Foundation which, among other projects, has created the Hutchins Center for African and African-American Research at Harvard University, which is chaired by Mr. Hutchins; the Hutchins Center on Fiscal and Monetary Policy at The Brookings Institution; and the Chronic Fatigue Initiative, which conducts basic research into the cause of chronic fatigue syndrome.
Mr. Hutchins is an owner and member of the Executive Committee of the Boston Celtics.
Mr. Hutchins holds a bachelor’s degree from Harvard College, an MBA from Harvard Business School and juris doctor degree from Harvard Law School.
About the Reserve Banks’ Boards of Directors
The Federal Reserve Act of 1913 requires each of the Reserve Banks to operate under the supervision of a board of directors. Each Reserve Bank has nine directors who represent the interests of their Reserve District and whose experience provides the Reserve Banks with a wider range of expertise that helps them fulfill their policy and operational responsibilities. The nine directors of each Reserve Bank are divided evenly by classification: Class A directors represent the member banks in the District; Class B directors and Class C directors represent the interests of the public. The directors of the Reserve Banks act as an important link between the Federal Reserve and the private sector, ensuring that the Fed’s decisions on monetary policy are informed by actual economic conditions.