Allan Sproul (March 9, 1896 – April 9, 1978) was an American banker. Widely regarded as one of the world's foremost central bankers, he served as President of the

Federal Reserve Bank of New York The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States. It is responsible for the Second District of the Federal Reserve System, which encompasses the State of New York, the 12 northern counties of New ...

from 1941 to 1956.

Biography

He was born on March 9, 1896, in

San Francisco, California San Francisco (; Spanish for " Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the fourth most populous in California and 17th ...

. He graduated from the

University of California at Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California) is a public land-grant research university in Berkeley, California. Established in 1868 as the University of California, it is the state's first land-grant univ ...

and was awarded a J.D. from

New York University New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then-Secretary of the Treasury Albert Gallatin. In 1832, the ...

. He joined the

Federal Reserve System The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...

in 1920 as head of the division of analysis and research of the San Francisco Fed. In 1930, he came to the

as an assistant deputy governor and secretary, and six years later, when official titles changed, he was appointed first vice president. As one of the leading central bankers in United States history, Sproul made major contributions in solving monetary problems. He was named vice chairman of the Federal Open Market Committee (the system's top monetary policymaking unit) when the New York Fed was given permanent representation on that committee in 1942. In 1956, he resigned from the New York Fed and returned to California to serve as a director of

Wells Fargo Bank Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California; operational headquarters in Manhattan; and managerial offices throughout the United States and inter ...

. He was appointed a director of that bank's holding company in 1969. Sproul also served as a director of

Kaiser Aluminum and Chemical Corporation Kaiser Aluminum Corporation is an American aluminum producer. It is a spinoff from Kaiser Aluminum and Chemicals Corporation, which came to be when common stock was offered in Permanente Metals Corporation and Permanente Metals Corporation's ...

. He died of a heart attack at his home in

California California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territori ...

on April 9, 1978.

References

External links

Guide to the Allan Sproul Papers
at

The Bancroft Library The Bancroft Library in the center of the campus of the University of California, Berkeley, is the university's primary special-collections library. It was acquired from its founder, Hubert Howe Bancroft, in 1905, with the proviso that it retai ...

Items by or about Allan Sproul
at

FRASER Fraser may refer to: Places Antarctica * Fraser Point, South Orkney Islands Australia * Fraser, Australian Capital Territory, a suburb in the Canberra district of Belconnen * Division of Fraser (Australian Capital Territory), a former federal ele ...

{{DEFAULTSORT:Sproul, Allan 1896 births 1978 deaths Businesspeople from San Francisco Federal Reserve Bank of New York presidents New York University School of Law alumni University of California, Berkeley alumni 20th-century American businesspeople