Private Equity Insider Named to New York Federal Reserve Board

Keeping things cozy, the Federal Reserve Bank of New York has announced that Glenn H. Hutchins, co-founder and co-chief executive of Silver Lake, has been appointed a Class B director of the New York Fed starting August 31 for the unexpired portion of a three-year term ending December 2012. He will serve the remainder of Jeffrey B. Kindler’s term on the board of directors. Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc. has also been appointed a Class B director starting August 31 for the unexpired portion of a three-year term ending December 11, 2011. He will serve the remainder of Jeffrey R. Immelt’s term.

Hutchins is a founder and co-chief executive of Silver Lake, one of the world’s largest private investment firms in the technology industry and technology-enabled businesses. Hutchins is chairman of the board of SunGard Corp. and a director of the NASDAQ OMX Group, Inc. and Mercury Payment Systems. In other words total Wall Street insider.

Hutchins is active in public and charitable service. He served President Clinton in both the transition and the White House as a Special Advisor on economic and healthcare policy and is vice chairman of the board of the Brookings Institution. He is also a director of the Harvard Management Company responsible for the management of Harvard University’s endowment. He is a chairman of the National Advisory Board of the W.E.B. Dubois Institute for African and African-American Research at Harvard and of the New York-Presbyterian Hospital. He is also a member of the Advisory Council of the Hamilton Project (founded by former Treasury Secretary Robrt Rubin), a director of the Partnership for New York City, and a member of the Investors Advisory Committee on Financial Markets of the Federal Reserve Bank of New York.

Hutchins holds an A.B. from Harvard College, an M.B.A. from Harvard Business School, and a J.D. from Harvard Law School

UPDATE on Hutchins from a friend who follows these things:

Silver Lake is high regarded and very savvy about Washington politics. Big donors to Democratic side. Very close to White House. ...they play the game at the highest levels.

Hutchins gave $144,388 for campaigns in years 2008, 2010 and 2012. Almost all Dems. Romney on his 2007 list.

Key excerpt: “Most of the companies refused to discuss the meeting. Some, including BlackRock and Silver Like, refused to even confirm their CEO was participating before a White House official disclosed the list.”

WH staff love it when you stay away from media.