For immediate release

The Federal Reserve Board on Tuesday announced the appointment of Scott G. Alvarez as its General Counsel, effective July 1, 2004.

Mr. Alvarez will succeed Virgil Mattingly, who announced in April his intention to retire after thirty years of service at the Board, including fifteen years as General Counsel.

The Board gave thorough consideration to many highly qualified internal and external candidates and Mr. Alvarez was chosen for his exceptional skills, experience and judgment.

In 1989, Mr. Alvarez was appointed to the Board's official staff as Assistant General Counsel and was named Associate General Counsel in 1991. He has worked with Board members and senior System staff to develop policies and legal positions on domestic banking issues. He has also been responsible for legal analysis relating to bank acquisitions and mergers.

Mr. Alvarez joined the Board in 1981 as a staff attorney and became a senior attorney in 1985. He earned a B.A. in economics from Princeton University in 1977 and a J.D. from Georgetown University Law Center in 1981.

2004 Other announcements