NEW YORK, NY, July 21, 2016 – The Board of Directors of the Financial Services Volunteer Corps (FSVC) announced the election of Randal K. Quarles as a member of FSVC’s Board.
FSVC helps build sound financial systems that are needed to support robust market economies in transitional and developing countries. It does so with the ultimate aim of promoting job creation, economic growth and a better quality of life.
“I have long been a supporter of FSVC’s mission and am honored to be a part of such an exceptional and essential organization,” said Mr. Quarles.
Mr. Quarles is Founder and Managing Director of The Cynosure Group, a U.S. private investment firm, and former Under Secretary of the Treasury for Domestic Finance from 2005-2006. From 2002-2005, Mr. Quarles served as Assistant Secretary of the Treasury for International Affairs. Before founding Cynosure, Mr. Quarles was a partner at The Carlyle Group, one of the world’s largest private equity firms. Mr. Quarles has spent much of his professional career in public service. He represented the United States in the Group of Seven (G7), Group of Twenty (G20), and Financial Stability Forum, and served as U.S. Executive Director at both the International Monetary Fund and the European Bank for Reconstruction and Development. He has also served as a member of the Board of Directors of the U.S. Overseas Private Investment Corporation.
FSVC Chairman William Donaldson stated, “Randy Quarles is an outstanding addition to FSVC’s Board. As Under Secretary of the Treasury, Randy was instrumental in advocating for necessary regulatory reforms, and he has an extraordinary record in advancing international development. His expert knowledge of the financial regulatory system will help strengthen FSVC’s impact in emerging market countries.”
FSVC President and CEO Andrew Spindler added, “Randy Quarles’ tremendous financial experience, spanning both the public and private sectors, will enable him to contribute greatly to FSVC’s strategic mission. We deeply value his willingness to serve on our Board, and we look forward to benefitting from his judgment and guidance.”