Michael Shepherd Appointed to the Federal Advisory Council

Michael Shepherd

Michael Shepherd

San Francisco, CA — The Federal Reserve Bank of San Francisco’s board of directors has appointed Michael Shepherd, chairman and chief executive officer of Bank of the West and BancWest Corporation to represent the District on the Federal Advisory Council for a one-year term beginning January 2012. Mr. Shepherd succeeds Russell Goldsmith, chairman and CEO of City National Bank.

The Federal Advisory Council, a body created by the Federal Reserve Act, consists of one member—generally from the commercial banking industry—from each of the twelve Reserve Bank Districts. The council ordinarily meets four times a year with the Board of Governors in Washington, D.C., to discuss economic and banking matters. Members customarily serve three one-year terms.

Mr. Shepherd was president and chief executive officer of Bank of the West from 2008-2010, having served as president and chief operating officer from 2006. In April 2009, he was appointed president and chief executive officer of BancWest Corporation, which is also the parent company of First Hawaiian Bank. He joined the bank in 2004 as executive vice president and general counsel. He is also a member of the Executive Committee of BNP Paribas Retail Banking.

Mr. Shepherd serves as a director of the Presidio Trust, member of the FDIC Advisory Committee on Economic Inclusion, director of Operation HOPE, executive committee member of the Bay Area Council, chapter member of the Washington National Cathedral and director of the Financial Services Roundtable. He is a member of the Council on Foreign Relations.

Mr. Shepherd is a graduate of Stanford University and the University of Michigan Law School.

The Federal Reserve Bank of San Francisco (SF Fed) serves the public by promoting a healthy, sustainable economy, and supporting the nation’s financial and payment systems. With offices in Los Angeles, Seattle, Salt Lake City, Portland and Phoenix, the Bank serves the Twelfth Federal Reserve District, which includes one-fifth of the nation’s population and represents the world’s fourth-largest economy. As part of the nation’s central bank, the SF Fed informs monetary policy, regulates banks, administers certain consumer protection laws and acts as a financial partner to the U.S. government.