Silver Point's Hutchins Joins New York Fed Board

Sep 2 2011 | 9:38am ET

Glenn Hutchins, co-founder of private equity firm Silver Lake Partners, has been named to the board of directors at the Federal Reserve Bank of New York.

Hutchins takes the seat of former Pfizer CEO Jeffrey Kindler. His term on the nine-member board runs until December 2012.

Hutchins also serves as a member of the New York Fed's Investors Advisory Committee on Financial Markets. He was a special adviser to President Bill Clinton on economic and healthcare policy and served on the former president's transition team.

The New York Fed also named Macy's CEO Terry Lundgren to its board.

"The board of directors is a key link between the bank and the region, and Mr. Hutchins and Mr. Lundgren have expertise in two critical industries—retail and technology—that are major employers in our area," New York Fed President William Dudley said.

Hutchins joins the board two years after its last p.e. representative, Stone Point Capital's Stephen Friedman, resigned as its chairman.

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