SAN FRANCISCO--(BUSINESS WIRE)--The Federal Reserve Bank of San Francisco’s board of directors has appointed Robert G. Sarver, chairman and CEO of Western Alliance Bancorporation, to represent the District on the Federal Advisory Council for a one-year term beginning January 1, 2017. Mr. Sarver succeeds John G. Stumpf, former chairman and CEO of Wells Fargo & Company.
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. Sarver is chairman and CEO of Western Alliance Bancorporation, a bank holding company with $17 billion in assets. Western Alliance Bank operates full-service banking divisions: Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank, and Torrey Pines Bank. In addition, he has been the managing partner of the Phoenix Suns since 2004.
He currently serves as director of Phoenix-based Meritage Corporation, the Downtown Phoenix Partnership Inc., the Sarver Heart Center at the University of Arizona, and the Weil Foundation.
He holds a B.A. in business administration from the University of Arizona, and is a certified public accountant.
(To view a photograph, please see: http://www.frbsf.org/our-district/press/news-releases/2016/robert-g-sarver-appointed-to-federal-advisory-council/)
The Federal Reserve Bank of San Francisco, with branch offices in Los Angeles, Seattle, Salt Lake City, and Portland, and a cash processing office in Phoenix, provides wholesale banking services to financial institutions throughout the nine western states. As the nation’s central bank, the Federal Reserve System formulates monetary policy, serves as a bank regulator, administers certain consumer protection laws, and is fiscal agent for the U.S. government. Follow us on Twitter at twitter.com/sffed