News at Mason
Mason President Ángel Cabrera named director for Federal Reserve Bank of Richmond
December 20, 2016
FOR IMMEDIATE RELEASE
Dec. 20, 2016
CONTACT: Preston Williams
George Mason University
Fairfax, Va. – George Mason University President Ángel Cabrera has been elected as a director for the Federal Reserve Bank of Richmond, one of the 12 regional reserve banks that comprise the nation’s central banking system. Cabrera’s three-year term begins Jan. 1, 2017.
Cabrera, chosen by the Richmond Fed’s stockholding member banks, brings an extensive business and education background to the position. Before arriving at George Mason, Cabrera served as president of the Thunderbird School of Global Management in Arizona and prior to that as dean of IE Business School in Madrid.
Cabrera has served on the boards of directors of three public companies (biotech company Inovio, specialty retailer PetSmart and electronic payments company eFunds), the Georgia Tech Advisory Board (which he chaired), the board of trustees of the Bankinter Foundation for Innovation in Madrid, the academic board of the Monterrey Institute of Technology in Mexico and the Northern Virginia Technology Council board, among other organizations. He has received numerous recognitions, including World Economic Forum Young Global Leader, Aspen Institute Henry Crown Fellow and Fulbright Scholar.
“George Mason University is an economic driver in Virginia and the National Capital Region,” Cabrera said. “As Virginia’s largest research university, we are a major source of talent and ideas that fuel innovation and economic prosperity in our region. We are also proudly committed to public service, so the opportunity to contribute to the health of the nation’s monetary and banking system will be a privilege and an honor.”
The Federal Reserve directors in 12 districts nationwide serve a governance role for the nation’s central banking system similar to directors at commercial banks or private firms. The nine-member director boards are comprised of representatives from commerce, industry, services, labor, academia and agriculture. Collectively, the directors help inform the Fed’s knowledge of economic conditions and business trends in their geographic region, provide perspectives for monetary policy discussions and conduct oversight for general operations.
Cabrera, the first native of Spain to lead an American university, is in his fifth year at Mason, which earlier this year joined the group of 115 institutions nationwide with the highest research designation from the Carnegie Classification of Institutions of Higher Education.
Cabrera has served as special advisor to the United Nations Global Compact and was chair of the international task force that authored the “Principles of Responsible Management Education.” His academic work in management has been widely cited. His book “Being Global: How to Think, Act and Lead in a Transformed World,” was published by Harvard Business Review in 2012.
“Being elected as director is a well-deserved honor for our president—and for our institution,” said George Mason University Rector Tom Davis. “President Cabrera’s leadership ability and deep understating of business make him an ideal choice as a director for the Federal Reserve Bank of Richmond.”
With more than 2,000 employees in its Richmond, Baltimore and Charlotte offices, the Richmond Fed provides cash and payments services, supervises and regulates banks, contributes research and perspectives for monetary policymaking, and prepares economic research, data and resources for the communities it serves. The regional district includes Virginia, Washington, D.C., Maryland, North Carolina, South Carolina and most of West Virginia.
About George Mason University: George Mason University is Virginia’s largest public research university. Located near Washington, D.C., Mason enrolls more than 35,000 students from 130 countries and all 50 states. Mason has grown rapidly over the past half-century and is recognized for its innovation and entrepreneurship, remarkable diversity and commitment to accessibility. Learn more at www.gmu.edu.