Last week, the Federal Reserve Bank of New York announced that organization’s head of bank oversight and supervision will step down from her current post before 2016. Sarah Dahlgren, current executive vice president and head of the Financial Institution Supervision Group (FISG), has been with the Federal Reserve Bank of New York since 1990 and has led the expansion of regulatory efforts in recent years.
Once she steps down from her current position, Dahlgren will assume the new role of senior advisor to the president. In a statement, William Dudley, New York Fed President said, “She will leave FISG stronger and better positioned to help the Federal Reserve System keep pace with the ongoing evolution of the financial system. I accepted her resignation with great regret and wish her well.” Notably, the New York Fed has recently come under fire for its strict oversight of Wall Street.
- NY Fed Statement: http://www.ny.frb.org/newsevents/news/aboutthefed/2015/oa150430.html