Scott Rechler Reelected as a Class B Director to New York Fed Board of Directors

NEW YORK-The Federal Reserve Bank of New York announced that Scott Rechler, chairman and chief executive officer of RXR, has been reelected as a Class B Director representing Group 1, which consists of banks with capital and surplus of more than $2 billion. Rechler will serve a three-year term ending December 31, 2027.

RXR is a real estate investment manager, operator, and developer headquartered in New York City. Before starting RXR, Rechler served as the chair and CEO of Reckson Associates Realty Corp and as co-founder and board member of American Campus Communities.

Rechler serves as trustee and vice chair of the National September 11 Memorial and Museum and chair of the Feinstein Institute for Medical Research. He is a member of the Real Estate Board of New York, the Real Estate Roundtable, and the NYU Real Estate Institute Advisory Committee. In addition, he is a board member for Northwell Health, the Hospital for Special Surgery, and New York University.

Rechler previously served as the chair of the Regional Plan Association, as a board member of the Metropolitan Transportation Authority, and as vice chairman for the Port Authority of New York and New Jersey.

Rechler is a graduate of Clark University and the Schack Institute of Real Estate at New York University.

About the Reserve Banks' Boards of Directors
The Federal Reserve Act of 1913 requires each of the Reserve Banks to operate under the supervision of a board of directors. Each Reserve Bank has nine directors who represent the interests of their Reserve District and whose experience provides the Reserve Banks with a wider range of expertise that helps them fulfill their policy and operational responsibilities. The nine directors of each Reserve Bank are divided evenly by classification: Class A Directors represent the member banks in the District; Class B Directors and Class C Directors represent the interests of the public. The directors of the Reserve Banks act as an important link between the Federal Reserve and the private sector, ensuring that the Fed's decisions on monetary policy are informed by actual economic conditions.