WASHINGTON (Reuters) – Michael Gibson, director of the Federal Reserve’s oversight and regulatory department, accepted a voluntary acquisition and will retire at the end of this month after 33 years from the central bank and will retire after 33 years from the central bank.
In a message to Fed officials, Gibson said deputy directors Jennifer Burns and Arthur Lindo also decided to retire later this year.
“I know the leadership transition can be a time of uncertainty. But, I want to assure you that our organization has a full attitude to successfully navigate these changes,” Gibson said.
The Fed declined to comment. Gibson’s retirement was first reported by Bloomberg.
Fed chairman Jerome Powell said in May that the central bank’s goal is to reduce its labor force by about 10% in the coming years, allowing the bank to narrow the federal workforce’s goal with President Donald Trump.
Gibson joined the Fed in 1992 and was appointed director of banking supervision in 2011.
(Reports by Niket Nishant in Bangalore and Douglas Gillison of Washington; Editors by Maju Samuel and Matthew Lewis)
