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Advisory Board
The Honorable Randal K. Quarles
Randy Quarles is a Managing Director at the Carlyle Group, where he is focused on transactions in the global financial services sector. He is based in Washington, DC.
Before joining Carlyle, Mr. Quarles was Under Secretary of the U.S. Treasury, where he led the Department’s activities in financial sector and capital markets policy, including coordination of the President’s Working Group on Financial Markets, development of administration policy on hedge funds and derivatives, regulatory reform of Fannie Mae and Freddie Mac, developing policy on terrorism risk insurance, and proposing fundamental reform of the U.S. financial regulatory structure. Before serving as Under Secretary, Mr. Quarles was Assistant Secretary of the Treasury for International Affairs, where he was responsible for a wide range of international financial matters, focusing particularly on financial structure and stability, cross-border investment and financial regulation, and promotion of free trade in financial services. He led the financial regulatory dialogue between the United States and the European Union, was policy chair of the Committee on Foreign Investment in the United States, which reviews inbound investments that raise national security issues, led the U.S. delegation to the Financial Stability Forum (the semi-annual meeting of the heads of regulatory agencies from the world’s largest developed and emerging market countries), and negotiated the financial services provisions of several free trade agreements. Mr. Quarles was also the U.S. Executive Director of the International Monetary Fund, a member of the Board of Directors of the Overseas Private Investment Corporation, board representative for the Pension Benefit Guaranty Corporation and, in the private sector, is a member of the board of directors of NTR Acquisition Co.
Before entering the Bush Administration, Mr. Quarles was a partner with the law firm of Davis Polk & Wardwell, working at various times in both the New York and London offices, where he was co-head of the firm’s financial institutions practice and advised on transactions that included a number of the largest financial sector mergers ever completed.
Mr. Quarles received an A.B. summa cum laude in philosophy and economics from Columbia in 1981 and a J.D. from the Yale Law School in 1984.
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