RXR CEO Scott Rechler elected to NY Fed board 

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RXR Realty CEO Scott Rechler has been elected to the Federal Reserve Bank of New York’s Board of Directors. 

The New York Fed announced Tuesday that Rechler will fill a short-term vacancy and is likely to be nominated for a full three-year term. 

Rechler, who chairs the Regional Plan Association, will serve as a Class B director representing Group 1, which consists of banks with capital and surplus of more than $2 billion.

“It’s certainly an honor to have been elected the New York Fed Board,” Rechler said via email. “Throughout my professional and civic career, I have found that the best way to address many of our region’s challenges is by finding regional solutions. And I look forward to bringing this regional focus in my role with the New York Fed.”  

Besides his role as CEO for Uniondale-based RXR, Rechler is a member of the Real Estate Board of New York, chair of the Feinstein Institute for Medical Research and member of the board of trustees at Northwell Health, and a member of the advisory board of the Schack Institute of Real Estate at NYU. He also serves as co-chair of the board of the Tribeca Film Institute, and on the boards of the Drum Major Institute and the Hospital for Special Surgery. 

Rechler formerly served as vice chairman of the board of commissioners of the Port Authority of New York and New Jersey, and as a member of the board of the Metropolitan Transportation Authority. 

Each of the Federal Reserve Banks operates under the supervision of a board of directors. The directors are divided evenly by classification, with Class A directors representing the member banks in the district and Class B and Class C directors representing the interests of the public.