GARP Names William C. Dudley Risk Manager of the Year

10th President and CEO of the New York Fed played critical role in addressing worldwide financial crisis.

NEW YORKand JERSEY CITY,New Jersey,Feb. 28,2019 -- The Global Association of Risk Professionals (GARP),the only globally recognized membership association for risk managers,is pleased to announce that William C. Dudley,the 10th president and chief executive officer of the Federal Reserve Bank of New York,has been named the 2018 GARP Risk Manager of the Year.

The award,conferred by the GARP Board of Trustees,recognizes outstanding achievement in,and career contributions to,the risk management profession. Mr. Dudley accepted the award at GARP's 20th Anniversary Risk Convention,held February 26-27,2019,in New York.

William C. Dudley has been well respected in the financial world,and especially on Wall Street. He was a partner and managing director at Goldman,Sachs & Company,where he served for more than a decade as its chief U.S. economist. He had his biggest impact on global finance when he joined the Federal Reserve Bank of New York,first as the head of the Markets Group,and then,from 2009,as President and CEO of the New York Fed,just as the financial crisis was unfolding.

As a central banker and committee chair of the Bank for International Settlements,Mr. Dudley played a critical role in deploying emergency policy measures to support the global economy. In the years after the crisis,Mr. Dudley became a staunch advocate for improved culture and conduct in the financial services industry. Mr. Dudley retired from the New York Fed in June 2018,and currently serves as Senior Research Scholar for the Griswold Center for Economic Policy Studies at Princeton University.

"On behalf of GARP's Board of Trustees and the global risk management community that GARP represents,I am proud to recognize William C. Dudley as our 2018 Risk Manager of the Year," said GARP President and Chief Executive Officer Richard Apostolik. "The role he played at the New York Fed during the financial crisis and its aftermath was indeed exceptional. He exemplifies precisely what GARP seeks for this award."

"I'm honored to be named Risk Manager of the Year by GARP," said William C. Dudley,"and in turn would like to recognize all my colleagues at the New York Fed who worked tirelessly to bring stability to the global economy and financial services industry."

About the Global Association of Risk Professionals

The Global Association of Risk Professionals is a non-partisan,not-for-profit membership organization. GARP offers certification and educational programs for risk professionals at financial institutions,government agencies,central banks,academia and corporations. GARP also sponsors research in risk management and promotes collaboration among practitioners,academics and regulators to promote a culture of risk awareness.

Founded in 1996,governed by a Board of Trustees,GARP is headquartered in Jersey City,NJ,with offices in London,Washington,D.C. and Beijing.

CONTACT: Kris Slethaug,+1 201-205-1773,kris.slethaug@garp.com