Community Banker to Join Federal Reserve Board
Yesterday, January 6, 2015, the White House released a press release announcing President Barack Obama’s intention to nominate Allan Landon to fill a vacancy on the Board of Governors of the Federal Reserve System. Landon would fill the seat previously held by Elizabeth Duke, a former industry insider.
Landon is being billed as an industry insider as well as a “community banker.” Landon currently serves as a Partner in Community BanCapital; his career also includes tenures at Bank of Hawaii, First American and Ernst & Young. President Obama said, “Allan Landon has the proven experience, judgment and deep knowledge of the financial system to serve at the Federal Reserve during this important time for our economy. He brings decades of leadership and expertise from various roles, particularly as a community banker. I’m confident that he will serve our country well.”
As a community banking representative, Landon would serve a critical role in voicing the needs of the niche segment of the financial sector. In a statement, President of the Independent Community Bankers of America, Camden Fine, said, “Community banks have critical banking and economic interests that come before the board. Having someone with community bank experience, such as Landon, on the board will ensure that community bank interests are more fully understood as the board considers the impact of its policies on smaller banks and the communities and rural areas they serve.”
If confirmed, President Obama would still need to fill the second remaining vacancy on the Board of Governors.
- White House Press Release: http://www.whitehouse.gov/the-press-office/2015/01/06/president-obama-announces-his-intent-nominate-allan-r-landon-serve-board