Mr. Quarles brings decades of financial services, public service, financial regulatory, and private equity experience to our Board.
Mr. Quarles has been Executive Chairman and Co-Founder of The Cynosure Group, a diversified investment firm, since 2022. He served as Vice Chairman for Supervision of the Board of Governors of the Federal Reserve System from 2017 through 2021. During that time, he was also appointed Chair of the Financial Stability Board, the international body that monitors and coordinates measures to strengthen the global financial system.
Prior to that, Mr. Quarles was Managing Partner of The Cynosure Group from its founding in 2013 to 2017 and a partner at The Carlyle Group, a global investment firm based in Washington, D.C., from 2007 to 2013. He also served as Under Secretary for Domestic Finance at the U.S. Department of the Treasury (Treasury) from 2005 to 2006 and Assistant Secretary of the Treasury for International Affairs from 2002 to 2005. During this tenure, Mr. Quarles was the Policy Chair of the Committee on Foreign Investment in the United States. Earlier in his career, Mr. Quarles was the U.S. Executive Director of the International Monetary Fund from 2001 to 2002; a Partner at the international law firm of Davis Polk & Wardwell from 1993 to 2001; and Deputy Assistant Secretary of the Treasury for financial institutions and Special Assistant to the Secretary of the Treasury for Banking Legislation from 1991 to 1993.
Mr. Quarles currently serves on the Supervisory Board of Patomak Global Partners, LLC, a financial services consulting firm, and on the Boards of Directors of Intermountain Health, the largest hospital system in the Mountain West, and GSS UK Services Limited, a UK company providing compliance technology for financial firms. Previously, he served as a member of the Boards of Directors of Hampton Roads Bankshares Inc. and NTR Acquisition Co. Mr. Quarles received his Bachelor of Arts from Columbia University and his Juris Doctor from Yale University.