Robert Steven Kaplan (born 1957) was most recently the president and CEO of the
Federal Reserve Bank of Dallas
The Federal Reserve Bank of Dallas covers the Eleventh Federal Reserve District, which includes Texas, northern Louisiana and southern New Mexico, a district sometimes referred to as the Oil Patch.
The Federal Reserve Bank of Dallas is one of 12 ...
and is a former long-time
Goldman Sachs executive.
Prior to joining the Dallas Fed, Kaplan was a faculty member and senior associate dean at the
Harvard Business School.
Kaplan is an active venture philanthropist through his work as co-chairman of the
Draper Richards Kaplan Foundation
Started in 2002, Draper Richards Kaplan Foundation (DRK Foundation) is a global venture philanthropy firm supporting social enterprises.
History
The Draper Richards Kaplan Foundation is the philanthropic arm of Draper Richards, a venture capit ...
. He serves as chairman of
Project ALS, and was a board member of
Harvard Medical School
Harvard Medical School (HMS) is the graduate medical school of Harvard University and is located in the Longwood Medical Area of Boston, Massachusetts. Founded in 1782, HMS is one of the oldest medical schools in the United States and is consi ...
until 2017.
He is the author of three books on business leadership.
Career
Kaplan was vice chairman of the Goldman Sachs Group, Inc. with global responsibility for the firm's Investment Banking and Investment Management Divisions. He became a partner in 1990 and served as co-chairman of the firm's Partnership Committee. He was also a member of the Management Committee.
Following his 23-year career at Goldman Sachs, Kaplan became a senior director of the firm.
In 2006, Kaplan joined the faculty of the Harvard Business School, as a Senior Associate Dean and the Martin Marshall Professor of Management Practice.
In August 2015, Kaplan was named to head the
Federal Reserve Bank of Dallas
The Federal Reserve Bank of Dallas covers the Eleventh Federal Reserve District, which includes Texas, northern Louisiana and southern New Mexico, a district sometimes referred to as the Oil Patch.
The Federal Reserve Bank of Dallas is one of 12 ...
, effective September 2015.
In early September 2021, a financial disclosure form showed that Kaplan conducted million-dollar trades of individual stocks, including
Apple
An apple is an edible fruit produced by an apple tree (''Malus domestica''). Apple trees are cultivated worldwide and are the most widely grown species in the genus ''Malus''. The tree originated in Central Asia, where its wild ancestor, ' ...
,
Amazon
Amazon most often refers to:
* Amazons, a tribe of female warriors in Greek mythology
* Amazon rainforest, a rainforest covering most of the Amazon basin
* Amazon River, in South America
* Amazon (company), an American multinational technolog ...
and
Delta Airlines
Delta Air Lines, Inc., typically referred to as Delta, is one of the major airlines of the United States and a legacy carrier. One of the world's oldest airlines in operation, Delta is headquartered in Atlanta, Georgia. The airline, along wi ...
and owned 32 individual stocks with 27 having a value of over $1 million, including those of five fossil-fuel companies.
Kaplan's trading activities received widespread criticism for undermining confidence in the Federal Reserve. All transactions occurred outside of the Federal Reserve's financial blackout period and were approved by the bank's compliance department. Sen.
Elizabeth Warren
Elizabeth Ann Warren ( née Herring; born June 22, 1949) is an American politician and former law professor who is the senior United States senator from Massachusetts, serving since 2013. A member of the Democratic Party and regarded as a ...
has called on all Federal Reserve presidents to have a ban on the trading and ownership of individual stocks by regional senior officials. Due to the ethics concerns, Kaplan said he would sell his individual stocks.
On September 27, 2021, Kaplan announced he would be retiring early from his position as the president of the Federal Reserve Bank of Dallas, citing distractions (insider trading) over his stock market trades. His retirement took effect on October 8, 2021.
Personal life and education
Kaplan was born and raised in
Prairie Village, Kansas
Prairie Village is a city in Johnson County, Kansas, United States. It is part of the Kansas City Metropolitan Area. As of the 2020 census, the population of the city was 22,957.
History
After the successful development of the Country Cl ...
,
[ and is a graduate of the ]University of Kansas
The University of Kansas (KU) is a public research university with its main campus in Lawrence, Kansas, United States, and several satellite campuses, research and educational centers, medical centers, and classes across the state of Kansas. T ...
in 1979 and Harvard Business School in 1983. He lives with his two sons in Dallas, Texas.
Bibliography
Books
* Kaplan, Robert Steven. What You Really Need to Lead: The Power of Thinking and Acting Like an Owner. Boston, MA, USA: Harvard Business Review Press, September 2015.
* Kaplan, Robert Steven. What You're Really Meant To Do: A Road Map for Reaching Your Unique Potential. Boston, MA, USA: Harvard Business Review Press, 2013.
* Kaplan, Robert Steven. What to Ask the Person in the Mirror: Critical Questions for Becoming a More Effective Leader and Reaching Your Potential. Boston: Harvard Business Review Press, 2011.
Journal articles[
* Neeley, Tsedal, and Robert Steven Kaplan. "What's Your Language Strategy? It Should Bind Your Company's Global Talent Management and Vision." R1409D. Harvard Business Review 92, no. 9 (September 2014): 70–76.
* Kaplan, Robert Steven. "Top Executives Need Feedback: Here's How They Can Get It." McKinsey Quarterly, no. 4 (2011): 60–71.
* Kaplan, Robert Steven. "Reaching Your Potential." HBS Centennial Issue Harvard Business Review 86, nos. 7/8 (July–August 2008): 45–49.
* Kaplan, Robert Steven. "What to Ask the Person in the Mirror." Harvard Business Review 85, no. 1 (January 2007).
]
References
{{DEFAULTSORT:Kaplan, Robert Steven
1957 births
20th-century American Jews
21st-century American Jews
Federal Reserve Bank of Dallas presidents
Goldman Sachs people
Harvard Business School alumni
Harvard Business School faculty
Living people
People from Prairie Village, Kansas
University of Kansas alumni