Alumni and Friends Directory

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Biography

Randal Quarles is Chairman and co-founder of The Cynosure Group, an investment firm bringing together several of the United States’ largest family offices to make long-term private investments. 

From October of 2017 through October 2021, Mr. Quarles was Vice Chairman of the Federal Reserve System, serving as the system’s first Vice Chairman for Supervision, charged with ensuring stability of the financial sector. From December 2018 until December 2021, he also served as the Chairman of the Financial Stability Board, a global body established after the Great Financial Crisis to coordinate international efforts to enhance financial stability. He was a key architect of The Fed’s crisis response in March of 2020, credited with preventing collapse of the US and global financial systems, as described in the books Limitless and Trillion Dollar Triage. Earlier in his career, Mr. Quarles was a long-time partner at The Carlyle Group, a leading global private equity firm, and before that a partner at the law firm of Davis Polk & Wardwell in New York and London, where he was co-head of their financial services practice. Mr. Quarles has been a close advisor to every Republican Treasury Secretary for the last 35 years, including as Under Secretary of the Treasury in the Bush ’43 Administration. He has represented the United States in meetings of the Group of Seven, Group of Twenty, and Financial Stability Forum, and was also US Executive Director of the IMF.