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The Rockefeller Foundation president and former head of the United States Agency for International Development (USAID) Dr Rajiv Shah has been appointed to the Board of Directors of the Federal Reserve Bank of New York. Shah has been appointed by the Board of Governors of the Federal Reserve System as a ‘Class C’ director for a 3-year term ending December 31, 2026. Class C directors on the New York Fed’s Board of Directors represent the interests of the public, according to a statement released.
Dr. Shah has led The Rockefeller Foundation, a philanthropy whose mission is to promote the well-being of people around the world, since 2017.
Prior to joining the foundation, Dr. Shah was founder and managing partner of Latitude Capital, a private equity firm focused on infrastructure and energy projects in Africa and Asia. From 2009 to 2015, Dr Shah served as head of the United States Agency for International Development (USAID). In that role, he served on the National Security Council, led the US responses to the 2010 earthquake in Haiti and the 2014 West African Ebola pandemic, and secured bipartisan support for the passage of the Global Food Security Act and the Electrify Africa Act.
Before joining USAID, Dr Shah served as chief scientist and undersecretary for research, education, and economics at the United States Department of Agriculture, where he created the National Institute for Food and Agriculture. Earlier in his career, Dr. Shah was a director at the Bill & Melinda Gates Foundation, where he created the International Financing Facility for Immunization.
Dr Shah is a graduate of the University of Michigan, the University of Pennsylvania School of Medicine, and the Wharton School of Business. He served as a distinguished fellow in residence at Georgetown University and has received the Secretary of State’s Distinguished Service Award and the US Global Leadership Award. The Federal Reserve Bank of New York works within the Federal Reserve System and with other public and private sector institutions to foster the safety, soundness and vitality of US economic and financial systems. It is one of 12 regional Reserve Ban which, together with the Board of Governors in Washington, DC, make up the Federal Reserve System.
