The Federal Reserve Bank of Dallas has announced who will formally replace Richard Fisher, who retired earlier this year, as the new president and chief executive officer of the district bank. Robert Steven Kaplan will now head the Eleventh Federal Reserve District.

Kaplan is the Martin Marshall Professor of Management Practice and a Senior Associate Dean at Harvard Business School. He has strong ties to Goldman Sachs Group Inc. (NYSE: GS) in the past, but current ties beyond Harvard are to companies like State Street Corp. (NYSE: STT), Heidrick & Struggles International Inc. (NASDAQ: HSII) and Google Inc. (NASDAQ: GOOGL).

He will be on the Federal Open Market Committee (FOMC). Kaplan is currently 58 years old and his effective start date will be September 8, 2015. He is from Prairie Village, Kan. He received a bachelor’s degree in business administration from the University of Kansas, and he also received a master’s degree in business administration from Harvard Business School.

Kaplan is also listed as co-chairman of the Draper Richards Kaplan Foundation, which is said to be a global venture philanthropy firm that invests in developing nonprofit enterprises dedicated to addressing social issues.

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Before joining Harvard in 2006, Kaplan was vice chairman of Goldman Sachs, being one of the heads of investment banking and investment management. He was also previously Goldman Sachs’s global co-head of investment banking, was a member of the firm’s management committee, was co-chairman of the Partnership Committee and chairman of the Goldman Sachs Pine Street Leadership Program.

Here are Kaplan’s corporate and philanthropic ties: he serves on the boards of State Street, Harvard Management Company and Heidrick & Struggles. He is also a trustee of the Ford Foundation, founder and co-chairman of the TEAK Fellowship, co-founder and chairman of Indaba Capital Management and chairman of the Investment Advisory Committee at Google Inc. (NASDAQ: GOOG). He will step down from these positions before assuming his responsibilities at the Dallas Fed.

Kaplan will continue to serve as co-chairman of Project ALS, on the board of Harvard Medical School and as co-chairman of the Draper Richards Kaplan Foundation.

Kaplan previously served on the board of Bed Bath & Beyond Inc. (NASDAQ: BBBY) and was appointed by the governor of Kansas as a member of the Kansas Healthcare Policy Authority Board. He also served as a member of the Investors Advisory Committee on Financial Markets of the Federal Reserve Bank of New York.

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The Dallas Fed is the Eleventh District and has branches in Houston, San Antonio and El Paso. Its area of coverage is all of Texas, northern Louisiana and southern New Mexico. Kaplan’s introductory quote said:

I’m honored to be serving the people of the Eleventh Federal Reserve District and the nation as president of the Dallas Fed. I look forward to working with the superb professionals of this Bank and throughout the Federal Reserve System in their vital service to the District and the country.

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