January 07, 2020
Simon Potter, formerly Federal Reserve appointed as LBMA Independent Board Director
LBMA is pleased to announce the appointment of Simon Potter, formerly Federal Reserve Bank of New York (FRBNY) as its third Independent Non-Executive Director, with effect January 1, 2020.
Simon Potter is a non-resident senior fellow at the Peterson Institute for International Economics. Before joining the Institute in 2019, he was head of the Markets Group and System Open Market Account manager at the Federal Reserve Bank of New York.
In this role, he oversaw the implementation of domestic open market and foreign exchange trading operations on behalf of the Federal Open Market Committee, the execution of fiscal agent support for the US Treasury, the provision of account services to foreign and international monetary authorities, and the administration and production of reference interest rates for US money markets. He started at the New York Fed in June 1998 and served as director of economic research and co-head of the Research and Statistics Group at the New York Fed, prior to becoming head of the Markets Group in June 2012 where he was responsible for monetary policy advice. He played a prominent role in the Federal Reserve’s financial stability efforts, including by contributing to the design of the 2009 US bank stress tests, as a member of the international Macroeconomic Assessment Group that supported the Basel Committee’s work to strengthen bank capital standards and, most recently, as chair of the Global Foreign Exchange Committee.
In addition, he worked for the Financial Stability Oversight Council in 2011 to produce its first annual report. Prior to working at the New York Fed, he was an assistant professor at the University of California Los Angeles. He has also taught at Johns Hopkins University, New York University and Princeton University. His academic research focused on applying Bayesian methods to time series models. Simon is the third Independent Non-Executive Director for the LBMA. He was selected following an extensive search and three-month vetting process involving over 75 high-level senior candidates from around the world.
Ruth Crowell, Chief Executive of the LBMA commented on the appointment.
“I am delighted to welcome Simon Potter to the LBMA Board. The addition of a third NED further strengthens the independence, experience and global reach of the Board, as well as adding a valuable skillset thanks to Simon’s extensive experience in market best practices.”
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