The Federal Reserve Board announced this week that Andreas Lehnert is to succeed Nelli Liang as director of its Financial Stability division.
The appointment will be effective Dec. 25, 2016. Currently, Lehnert serves as deputy director for the division. When he takes over, however, Liang will continue to serve as his senior adviser until retirement early next year.
“Andreas has been a leader in the Board’s thinking about how to identify and reduce threats to the stability of our financial system,” Federal Reserve Board chair Janet L. Yellen said. “We have learned from the crisis that regulators and supervisors must consider both the strength of individual firms and of the financial system as a whole, if we are to address the risks financial instability poses for our economy. I am confident that Andreas will continue to deliver the economic expertise, common sense, and thorough analysis that we have come to rely on as we advance this work.”
Lehnert previously aided the implementation of the board’s research and policy agenda on financial stability, and was one of the creators of the office of Financial Stability Policy and Research, the forebear to his current division. He also helped develop and run the board’s first regulatory stress tests back in 2009.
In his new role, the University of Chicago and London School of Economics graduate will be the board’s man on the ground for assessing risks to financial stability to developing policy means to combat them. His division monitors vulnerabilities to the financial system and evaluates policy effects on risks, while developing regulatory means to reduce risk to banks