Federal Reserve Vice Chairman Randal Quarles Rejoins The Cynosure Group as Chairman

SALT LAKE CITY, Jan. 31, 2022 /PRNewswire/ -- The Cynosure Group is pleased to announce that Randal Quarles has rejoined the firm as its Executive Chairman. From October 2017 through October 2021, Mr. Quarles was Vice Chairman of the Federal Reserve System, serving as the system's first Vice Chairman for Supervision, charged specifically with ensuring stability of the financial sector. For the past three years, he also served as the Chairman of the Financial Stability Board ("FSB"), the global body established after the Great Financial Crisis to coordinate international efforts to enhance financial stability. In both positions, he played a key role in crafting the US and international response to the economic and financial dislocations of COVID-19, successfully preventing widespread global disruption of the financial system.  As FSB Chairman, he was a regular delegate to the finance ministers' meetings of the G7 and G20 groups of nations and to the Summit meetings of the G20.  As Fed Vice Chair, he was a permanent member of the Federal Open Market Committee, the body that sets monetary policy for the United States.

Cynosure, the independent alternatives / asset management firm Mr. Quarles co-founded over eight years ago, makes long-term investments on behalf of family offices, foundations, and other like-minded institutions, providing flexible long-term capital for exceptional founders and management teams who want to remain invested in their businesses. Cynosure's differentiated and tailored approach is distinct from the typical "control plus leverage" model of the private equity industry and is designed to partner in the vast, under-invested, market opportunity of founders and management-owners seeking partial liquidity or growth capital.

Before founding Cynosure, Mr. Quarles was a long-time partner of the Carlyle Group, where he began the firm's program of investments in the financial services industry during the 2008 financial crisis.

"I'm delighted to be back at Cynosure," said Mr. Quarles.  "Cynosure's focused investment approach and strong team have created significant value for our companies and our investors, putting us on a path for substantial growth, and I look forward to working with the Firm to develop and execute its strategy. The rapidly evolving world of financial services in particular will bring a wealth of opportunities to our investors."

Keith Taylor, a Managing Director, and co-founder of Cynosure said, "Randy will bring the same dedication demonstrated in his public service back to Cynosure where his leadership will play an important role in the next chapter of our growth."

SOURCE The Cynosure Group