The Federal Reserve is considering appointing Wall Street banking attorney Quinn as Director of Regulatory Affairs.

According to two informed sources, the Federal Reserve is expected to appoint Randall Quarles as the new head of regulatory affairs, as a seasoned Wall Street professional with deep connections to the banking industry will take charge of industry oversight. Quarles, a former partner at Davis Polk & Wardwell law firm, has represented several large American banks. He will succeed Michael Gibson, who announced his retirement last July after more than thirty years at the Federal Reserve. Since May 2025, Quarles has been serving as an advisor to Randall Bowman, a member of the Federal Reserve Board of Governors and Vice Chairman for Supervision. Sources say Quarles' appointment still needs to be approved by a vote of the seven-member Board of Governors of the Federal Reserve. The specific timing of this closed-door vote is currently unclear. After taking office, Quarles will continue to report to Bowman. The selection of Quarles as head of regulatory affairs will mark a significant shift in the personnel arrangements at the Federal Reserve, as the position has been held by long-serving internal staff since at least 1977.