Scott G. Alvarez, General Counsel, will retire later this year after nearly 36 years of service to the Federal Reserve Board, including more than 12 years as head of the Legal Division. The Board will begin a search for his successor.

Mr. Alvarez, who also serves as General Counsel of the Federal Open Market Committee, was a key participant in crafting the Federal Reserve's response to the financial crisis and in implementing the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. He advises the Board on a wide variety of legal and related policy issues, including issues under the Federal Reserve Act and a host of banking laws, and has been a liaison in working with other financial regulatory agencies, congressional committees, and other central banks.

"Scott advised successive Chairs, including myself, with deep expertise and utmost integrity," said Chair Janet L. Yellen. "I am enormously grateful for his wise counsel, calmness and good humor during times of stress, and, above all, his intense dedication to the public interest served by the Federal Reserve."

Mr. Alvarez began his career at the Board in 1981 as a staff attorney. He became a senior attorney in 1985 and was named to the official staff, as Assistant General Counsel, in 1989. He was named General Counsel in July 2004. He earned a B.A. in economics from Princeton University in 1977 and a J.D. from Georgetown University Law Center in 1981.

The Legal Division provides legal analysis and counsel in support of Board statutory and regulatory responsibilities. The focus of the effort is upon the preparation, legal interpretation, and distribution of information concerning statutes, rules, regulations, Board decisions, interpretations, and proposed legislation.

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