Randal K. Quarles

Randal Quarles is Chairman and co-founder of The Cynosure Group, a Utah-based investment firm.

From October 2017 through October 2021, Mr. Quarles was Vice Chairman of the Federal Reserve System, serving as the system’s first Vice Chairman for Supervision. From December 2018 until December 2021, while Vice Chair for Supervision, he was appointed chair of the Financial Stability Board, an international body that monitors and makes recommendations about the global financial system.

Earlier in his career, Mr. Quarles was a partner at The Carlyle Group, a private equity firm based in Washington, D.C. He served as undersecretary for domestic finance at the Department of the Treasury from September 2005 to November 2006 and assistant secretary for international affairs from April 2002 to August 2005. During this tenure, Mr. Quarles served as policy chair of the Committee on Foreign Investment in the United States. Prior to joining the Department of the Treasury, he was the U.S. Executive Director of the International Monetary Fund from August 2001 to April 2002. From January 1991 to January 1993, Mr. Quarles served as a special assistant to the Secretary of the Treasury for Banking Legislation and as deputy assistant secretary of the Treasury for financial institutions. Prior to, and in between, his service at the Department of the Treasury, he was a partner at Davis, Polk & Wardwell, serving in their New York and London offices.

Mr. Quarles received an A.B. summa cum laude in philosophy and economics from Columbia University in 1981 and a J.D. from the Yale Law School in 1984.