San Francisco, California — The Federal Reserve Bank of San Francisco’s board of directors has appointed Robert G. Sarver, chairman and CEO of Western Alliance Bancorporation, to represent the District on the Federal Advisory Council for a one-year term beginning January 1, 2017. Mr. Sarver succeeds John G. Stumpf, former chairman and CEO of Wells Fargo & Company.
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. Sarver is chairman and CEO of Western Alliance Bancorporation, a bank holding company with $17 billion in assets. Western Alliance Bank operates full-service banking divisions: Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank, and Torrey Pines Bank. In addition, he has been the managing partner of the Phoenix Suns since 2004.
He currently serves as director of Phoenix-based Meritage Corporation, the Downtown Phoenix Partnership Inc., the Sarver Heart Center at the University of Arizona, and the Weil Foundation.
He holds a B.A. in business administration from the University of Arizona, and is a certified public accountant.
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.