Dallas Fed begins search for new president, hires search firm

(Reuters) – The Federal Reserve Bank of Dallas has kicked off its search for a new president to replace Robert Kaplan, the bank’s previous top executive who left last month after a scandal erupted over his personal financial transactions, it said on Tuesday.

The bank’s search is being led by its non-bank directors, it said in a statement, and it has hired the executive search firm Egon Zehnder to assist it in recruiting potential candidates.

Kaplan retired Oct. 8 after a public outcry over personal trading by him and former Boston Fed President Eric Rosengren during the height of the pandemic crisis and the Fed’s efforts to stabilize markets and rescue the economy.

(Reporting by Ann Saphir; Editing by Dan Burns)

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