Will the former Warner Bros CEO help Janet Yellin launch an acting career, or perhaps urge his fellow Fed governors to “greenlight” their next purchase of Treasury securities? We’ll see: Barry Meyer was appointed today to serve at least until the end of 2016 as a member of the Federal Reserve Bank of San Francisco’s board of directors.
The Fed rarely includes execs from entertainment: Representatives from member banks hold three of the nine director seats at each of the nation’s 12 Federal Reserve Banks, and elect three other non-bankers. Meyer will be one of three Class C directors, who are appointed by the Board of Governors in Washington from outside of banking. Class C directors are expected to avoid any involvement in partisan politics. The San Francisco Federal Reserve covers nine western states, including Alaska and Hawaii, and is the system’s second largest measured by assets after New York.
Last year Meyer left Warner Bros, where he had worked for 43 years, including 14 as CEO. He founded North Ten Mile Associates, which today’s Fed release describes as “a strategic consultancy firm specializing in entertainment industry clients and issues.”