He is past chair of the American Council on Education, the New York Academy of Sciences, and the Commission on Independent Colleges and Universities of New York. He has served as the chairman of the board of the Federal Reserve Bank of New York (2003-2006) and chair of the Federal Reserve Systems Council of Chairs (2006). He served as a board member for the National Association of Securities Dealers (NASD) (1996-1998), and was founding chair of the board of NASD Dispute Resolution (2000-2002).
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