San Francisco, CA — The Federal Reserve Bank of San Francisco’s board of directors has reappointed 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 third one-year term beginning January 2014.
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 member of the FDIC Advisory Committee on Economic Inclusion, executive committee member of the Bay Area Council, member of the Council on Foreign Relations, member, Finance and Investment Committees of Stanford University Hospital, and director of Operation HOPE.
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.