Michael Shepherd
San Francisco, CA — The Federal Reserve Bank of San Francisco’s board of directors has appointed 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 one-year term beginning January 2012. Mr. Shepherd succeeds Russell Goldsmith, chairman and CEO of City National Bank.
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 a director of the Presidio Trust, member of the FDIC Advisory Committee on Economic Inclusion, director of Operation HOPE, executive committee member of the Bay Area Council, chapter member of the Washington National Cathedral and director of the Financial Services Roundtable. He is a member of the Council on Foreign Relations.
Mr. Shepherd is a graduate of Stanford University and the University of Michigan Law School.
The Federal Reserve Bank of San Francisco (SF Fed) works to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. As part of the U.S. central bank, the SF Fed serves the Twelfth Federal Reserve District, which covers the nine western states—Alaska, Arizona, California, Hawai’i, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. By pursuing our two key goals of maximum employment and price stability—known as the Fed’s dual mandate—we work toward supporting an economy that works for everyone.