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January 6, 2009
| Contacts: |
Lily
Ruiz
Federal Reserve Bank of San Francisco |
(415) 974-3240 |
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Carol
Eckert
Federal Reserve Bank of San Francisco |
(415) 977-3853 |
T. Gary Rogers Designated Chairman of the Federal Reserve Bank of San Francisco Board of Directors; Douglas W. Shorenstein Designated
Deputy Chair
San Francisco, January 6, 2009 – The Board of Governors of the Federal Reserve System designated T. Gary Rogers chairman of the board of directors of the Federal Reserve Bank of San Francisco. Douglas W. Shorenstein was designated deputy chairman and also reappointed as a class C director for a three-year term. They begin their service as chairman and deputy chairman on January 1, 2009.
Since 2008, Mr. Rogers has been chairman of Levi Strauss & Co., a company founded and headquartered in San Francisco since 1853. He is the immediate past chairman and CEO of Dreyer's Grand Ice Cream, Inc., a company he purchased in 1977 with partner William F. Cronk and a financial investor. Mr. Rogers also sits on the boards of the Shorenstein Properties LLC, Stanislaus Food Products, and the UCSF Foundation. He is a member and former chairman of the Bay Area Council, chairman of the Oakland Chief Executive Officers Council, and a member of the U.S. Rowing Association High Performance Committee. Mr. Rogers joined the San Francisco Fed's board of directors in 2005 and served as deputy chair from 2006-2008. He has a bachelor's degree from the University of California, Berkeley and an M.B.A. from Harvard Business School.
Mr. Shorenstein is chairman and CEO of Shorenstein Properties LLC, one of the country's oldest real estate organizations active nationally in the ownership and operation of office properties. He joined the family business in 1983 and became chairman and CEO in 1995. Among Mr. Shorenstein's numerous civic and philanthropic causes, his current nonprofit board activities include: The Joan Shorenstein Center on Press, Politics and Public Policy at Harvard's Kennedy School of Government; The University of California, San Francisco, Executive Council; The Real Estate Round Table; Aim High; and Environmental Defense Fund. Prior to joining Shorenstein Properties, Mr. Shorenstein worked for three years as a real estate attorney with the law firm of Shearman & Sterling LLP in New York in its Real Estate Group. He graduated from the University of California at Berkeley with a B.A., and from the University of California, Hastings College of the Law with a J.D. Mr. Shorenstein joined the San Francisco Fed's board of directors in 2007.
The Federal Reserve Bank of San Francisco, with branch offices in Los Angeles, Seattle, Salt Lake City, and Portland, and a cash processing office in Phoenix, provides wholesale banking services to financial institutions throughout the nine western states. As the nation's central bank, the Federal Reserve System formulates monetary policy, serves as a bank regulator, administers consumer protection laws, and is fiscal agent for the U.S. government.
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