|By Dave Segal, The Honolulu Star-Advertiser|
He successfully led
"(Earnings reports) should be predictable with no excitement," said Landon, who was chairman, president and chief executive officer of
Now, more than four years after his
Landon's position on the influential board would cap a career that spans more than four decades. The Fed, which is led by Chairwoman
Landon's nomination comes at a time when the Fed is near a turning point regarding monetary policy and is contemplating raising rates for the first time since 2006. The Fed has had two vacancies since the departure of governors
"Al is a very smart, public-spirited and highly ethical individual," said Citigroup Chairman and former Bankoh CEO
"He is an outstanding leader and possesses a keen intellect and understanding of the community banking system," Ho said. "During his tenure at
Under Landon's leadership,
Landon, when reached by phone at his home in
"He's humbled and excited," Reppenhagen said in describing Landon's feelings about the nomination. "He's obviously been successful in a 40-year-plus career in finance, and he's at a point now where he wants to give back to the system that has given back to him. That's an important reason for taking this job. He sees it as a capstone opportunity to bring the community bank perspective to the Fed."
Reppenhagen said he and Landon met in 2011 and are members of a general partnership that raised
"We make investments in banks that are between
"The Federal Reserve is responsible for regulating nearly every aspect of our banking industry, and it is critical that its members reflect the diversity in the industry," Schatz said. "Drawing on his experience at
Landon, who would have to move to
"I think he's honored to be even nominated, and, as a person, Al has just the highest integrity," Reppenhagen said. "He's totally unpretentious, thoughtful, smart, data-driven. He'll make a very good candidate, and I think Al is looking forward to being nominated for such a prominent position. I hope that the confirmation hearing goes well."
The full term for Fed governors, not including the chairman and vice chairman, is 14 years, but that length often is not served.
Landon was making an annual base salary of
His financial take as a member of the Fed will be considerably less.
When Landon retired from
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