Financial consulting firms are aggressively going after former Fed members, and placing them at the top of their firms.
Potomac-based Patomak Partners LLC announced last week that it hired Randall Kroszner, a Fed Governor from March 2006 to January 2009. Kroszner was a member of the President's Council of Economic Advisers from 2001 to 2003.
This week, Mark Olson, former Federal Reserve Board Governor, has joined financial services consulting firm Corporate Risk Advisors LLC as co-chairman, the company. Among many positions, Olson was selected to join a 1991–92 United States Treasury Department effort to assist Eastern European bankers in adapting to a free-market economy.
Before becoming a member of the Fed Board, Olson served as Staff Director of the U.S. Senate Securities Subcommittee of the Banking, Housing, and Urban Affairs Committee (2000-2001). The subcommittee's legislative jurisdiction included the Securities and Exchange Commission, accounting policy issues, and the insurance industry. During Olson's tenure, the subcommittee held oversight hearings on implementation of key sections of the Gramm-Leach-Bliley Act.
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