Dallas Fed names former Goldman Sachs banker as new president

The Federal Reserve Bank of Dallas on Monday announced the appointment of Robert Steven Kaplan, a former Goldman Sachs banker, as its new president and chief executive officer.

Kaplan will take his post on Sept. 8, replacing Richard Fisher, who retired from the Dallas Fed in March this year, said the Dallas Fed in a statement.

Kaplan, now 58 years old, is currently a management professor and senior associate dean at Harvard Business School. Prior to joining Harvard in 2006, he was vice chairman of the Goldman Sachs Group, Inc. with global responsibility for the firm's investment banking and investment management divisions.

The Dallas Fed president participates in discussions at the Federal Open Market Committee, the U.S. Fed's policy setting panel, but doesn't have a voting right on the FOMC until 2017 when the Dallas Fed rotates into a voting spot.