Allan Sproul

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Allan Sproul
Allan Sproul.jpg
3rd President of the Federal Reserve Bank of New York
In office
January 1941 – June 30, 1956
Preceded by George Leslie Harrison
Succeeded by Alfred Hayes
Personal details
Born (1896-03-09)March 9, 1896
San Francisco, California
Died April 9, 1978(1978-04-09) (aged 82)
Nationality United States
Alma mater NYU School of Law
University of California

Allan Sproul (March 9, 1896 – April 9, 1978) was an American banker. Widely regarded as one of the world's foremost central bankers, he served as President of the Federal Reserve Bank of New York from 1941 to 1956.[1][2]

Biography[edit]

He was born on March 9, 1896 in San Francisco, California. He graduated from the University of California at Berkeley and was awarded a J.D. from New York University. He joined the Federal Reserve System in 1920 as head of the division of analysis and research of the San Francisco Fed. In 1930, he came to the Federal Reserve Bank of New York as an assistant deputy governor and secretary, and six years later, when official titles changed, he was appointed first vice president.

As one of the leading central bankers in United States history, Sproul made major contributions in solving monetary problems. He was named vice chairman of the Federal Open Market Committee (the System’s top monetary policymaking unit) when the New York Fed was given permanent representation on that committee in 1942.

In 1956, he resigned from the New York Fed and returned to California to serve as a director of Wells Fargo Bank. He was appointed a director of that bank’s holding company in 1969. Sproul also served as a director of Kaiser Aluminum and Chemical Corporation.

He died of a heart attack at his home in California on April 9, 1978.[2]

References[edit]

  1. ^ "Allan Sproul". Federal Reserve Bank of New York. Retrieved 2012-10-28. Allan Sproul spent nearly 36 years in the Federal Reserve System, all but 10 of them at the New York Fed. He served as president from January 1941 to June 1956. He was 44 when named president. ... 
  2. ^ a b "Allan Sproul, Retired President Of New York Fed, Is Dead at 82. Was Wells Fargo Bank Director". New York Times. April 10, 1978. Retrieved 2012-10-28. Allan Sproul, retired president of the Federal Reserve Bank of New York, who was widely regarded as one of the world's foremost central bankers died of a heart attack Sunday at his home in California. He was 82 years old. 

External links[edit]

Political offices
Preceded by
George L. Harrison
President of the Federal Reserve Bank of New York
1941-1956
Succeeded by
Alfred Hayes