Fed Taps Former Wall Street Lawyer Guynn for Top Bank Oversight Role

Randall Guynn, a veteran with deep banking ties, set to lead Fed's supervision and regulation division.

Published on Feb. 13, 2026

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The U.S. Federal Reserve is expected to name Randall Guynn, a former partner at law firm Davis Polk & Wardwell LLP who has represented major U.S. banks, as its new director of supervision and regulation. Guynn would replace Michael Gibson, who is retiring after over three decades at the central bank. The appointment would mark a departure for the Fed, which has typically filled the role with long-serving career staff.

Why it matters

Guynn's appointment signals the Fed's intent to reshape its approach to banking oversight, as the central bank's new vice chair for supervision, Michelle Bowman, has pushed for an overhaul of post-crisis regulations and supervision practices. Guynn's deep ties to the banking industry could raise concerns about potential conflicts of interest, though the Fed says he has recused himself from matters involving firms he recently represented.

The details

Guynn has been serving as an advisor to Bowman since May 2025 and is expected to continue reporting to her in the new role. The supervision and regulation division is responsible for the Fed's broad oversight of the banking sector, including setting rules and examining the largest financial institutions. Bowman has announced plans to restructure the division, including reducing its headcount by around 30%.

  • Guynn has been serving as an advisor to Fed Governor and Vice Chair for Supervision Michelle Bowman since May 2025.
  • Michael Gibson announced his retirement from the Fed in July after more than three decades at the central bank.

The players

Randall Guynn

A former partner at law firm Davis Polk & Wardwell LLP who has represented major U.S. banks, and is expected to be named the new director of supervision and regulation at the Federal Reserve.

Michael Gibson

The current director of supervision and regulation at the Federal Reserve, who announced his retirement in July after more than three decades at the central bank.

Michelle Bowman

The Federal Reserve's governor and vice chair for supervision, who has pushed for an overhaul of post-crisis banking regulations and supervision practices.

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What they’re saying

“A Fed spokesperson said that since joining the Fed last May, Guynn has recused himself from any matters involving specific firms for which he did legal ​work ​in the last year.”

— Fed spokesperson (Reuters)

What’s next

The Fed's board of seven governors is expected to vote on Guynn's appointment, though the timing of the vote is unclear.

The takeaway

Guynn's appointment signals the Fed's intent to reshape its approach to banking oversight, with the central bank tapping a Wall Street veteran with deep industry ties to lead its supervision and regulation division. This move could raise concerns about potential conflicts of interest, though the Fed says Guynn has recused himself from matters involving firms he recently represented.