New York Fed names new general counsel

The Federal Reserve Bank of New York has appointed Richard Ostrander as general counsel and head of the reserve bank’s legal group.

He joins in November from asset management giant BlackRock, where he is currently a managing director in legal and compliance.

In his current role at BlackRock, Ostrander oversees legal coverage of trading activities as well legal coverage of BlackRock Solutions and related technology areas and issues. He is a member of several BlackRock risk and oversight committees and is a leader in the legal and compliance division’s diversity, equity and inclusion initiatives.

Prior to joining BlackRock in 2011, he was a managing director at Morgan Stanley, where he was responsible for the investment management company’s diversity, equity and inclusion initiatives. He began his legal career as an associate at Cleary Gottlieb in 1995.

Commenting on his appointment, New York Fed President and CEO John Williams said: “ Rick has deep expertise in the legal and compliance issues facing financial institutions and markets today, which will help us lead and prepare for the digital innovation of tomorrow.”

He added: “His commitment to diversity, equity, and inclusion practices across teams and his ability to collaborate inclusively with business areas on complex legal challenges will make him a great addition to our leadership team.”