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December 15, 2005
| Contacts: |
Carol Eckert
Federal Reserve Bank of San Francisco |
(415) 977-3853 |
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Lily Ruiz
Federal Reserve Bank
of San Francisco |
(415) 974-3240 |
David K.Y. Tang Appointed Chairman
of the Federal Reserve Bank of San Francisco Board of Directors;
T. Gary Rogers Appointed Deputy Chair
San Francisco, December 15, 2005 – The Federal Reserve Bank of
San Francisco announced today that David K.Y. Tang, partner with Seattle-based
law firm Preston Gates & Ellis LLP has been designated chairman of
the Federal Reserve Bank of San Francisco’s board of directors.
T. Gary Rogers, chairman and CEO of Dreyer’s Grand Ice Cream Holdings,
Inc. in Oakland, has been designated deputy chairman. They begin their
service as chairman and deputy chairman on January 1, 2006.
Mr. Tang is a partner with Preston Gates & Ellis LLP, a full-service
law firm with more than 430 attorneys in 11 locations on the West Coast,
in Washington, D.C. and in Asia. His practice focuses on investment
and financing projects as well as international transactions. Mr. Tang
joined
Preston Gates in 1979 and served as the firm’s managing partner
from 1995-1999, guiding the firm’s strategic planning and operations
as the first Asian American managing partner of a major U.S. law firm.
He is currently focused on guiding the growth of Preston Gates’ practice
in Greater China. Mr. Tang is the current chairman for the Trade Development
Alliance of Greater Seattle and sits on the boards of the National
Bureau of Asian Research, the National Center for Asia Pacific Economic
Cooperation,
and the National Committee on U.S.-China Relations. Mr. Tang joined
the SF Fed’s board of directors in 2003.
Mr. Rogers purchased
Dreyer’s Grand Ice Cream, Inc. in 1977 with
his partner William F. Cronk and a financial investor. The company
went public in 1981, and in 2003 merged with the Nestlé Ice
Cream Company, L.L.C. to form Dreyer’s Grand Ice Cream Holdings,
Inc. The merger combined the Dreyer’s and Edy’s brands
with Häagen-Dazs
and the Nestlé Ice Cream frozen snacks brands. Mr. Rogers
also sits on the boards of Levi Strauss & Co., the Shorenstein
Company, L.L.C., and Stanislaus Food Products, and is a member and
former chairman
of the Bay Area Council. Mr. Rogers joined the SF Fed’s board
of directors at the beginning of this year.
Each of the nation’s
12 Federal Reserve Banks has a nine-member board of directors.
Three class A directors represent national and state-chartered
banks that are members of the Federal Reserve System. Three class
B directors are elected by these banks but represent commerce,
industry, agriculture,
services, labor, and consumers. Three class C directors represent
the same broad array of public interests but are appointed by the
Board of
Governors in Washington, D.C. Tang and Rogers are class C directors.
The
board of directors of the Federal Reserve Bank of San Francisco contributes
to the formulation of U.S. monetary policy through
the industry and regional
economic information they provide the bank’s president.
Reserve bank directors also recommend changes in the discount
rate.
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