Randal Quarles was confirmed today (November 26) as the new chair of the Financial Stability Board. He will take over from Mark Carney on December 2.
The Federal Reserve vice-chair for supervision will operate alongside Klaas Knot, president of the Netherlands Bank, who was appointed FSB vice-chair.
According to the agreement, which has been signed off by the FSB’s plenary, both will serve terms of three years. The plenary has agreed that Knot will take over from Quarles as chair at the end of