The FINANCIAL -- The UPS Board of Directors named as a company director Kevin M.
Warsh, a former central banker, presidential advisor and noted economic
and financial market expert.
As United Parcel Service of America reported, the appointment is effective immediately and expands the UPS Board to 13 members.
Warsh, 42, was a member of the Board of Governors of the Federal Reserve. Previously, he served four years at the White House as President George W. Bush's special assistant for economic policy and as executive secretary of the National Economic Council. Warsh currently serves as a distinguished visiting fellow at Stanford University's Hoover Institution and a lecturer at its Graduate School of Business.
A native of upstate New York, Warsh earned his A.B. in public policy from Stanford and J.D. from Harvard Law School. After graduation in 1995, he joined Morgan Stanley & Co. in New York, becoming vice president and executive director of the company's Mergers and Acquisitions Department.
He joined the White House in February 2002, where his primary areas of responsibility included domestic finance, capital markets and macroeconomics.
In February 2006, Warsh was confirmed by the U.S. Senate to join the Federal Reserve's seven-member governing board, becoming the youngest appointee in Fed history at age 35. He focused on financial and economic developments and the conduct of monetary policy. Warsh played a significant role in navigating the financial market turmoil amid the global financial crisis. He also served as the Fed's representative to the Group of Twenty (G-20), consisting of the world's largest 20 economies, and as the Fed's emissary to the emerging and advanced economies in Asia until his departure in April 2011.
Warsh will stand for election to a regular one-year term at UPS's annual shareowners' meeting in May 2013. He will serve on the Audit Committee of the Board.