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The Wall Street Journal: Fed’s Randal Quarles poised to become head of Financial Stability Board

WASHINGTON — A top Federal Reserve official is poised to lead a global body overseeing financial regulations, according to people familiar with the matter, overcoming questions abroad about President Donald Trump’s posture toward international institutions.

Randal Quarles, the Fed’s vice chairman for bank supervision, is expected to be named to chair the Financial Stability Board, these people said. The decision won’t be final until it is announced. An FSB spokesman declined to comment but said an announcement would be made before Dec. 1, when Bank of England Gov. Mark Carney’s term as FSB chair expires.

The decision would be a win for the Trump administration, which had backed Quarles and viewed his candidacy as a chance to influence the direction of global financial regulatory policy, people familiar with the matter said.

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