Sheila Bair
Sheila Bair is an industry veteran respected for her work in the United States financial sector. Bair is an advocate of consumer financial protection and increased public oversight of the banking industry.
A native of Independence, Kansas, Bair earned an undergraduate degree in economics from Kansas University in 1979 and a law degree from the University of Kansas in 1982. She later obtained a Master of Laws degree from the George Washington University Law Center in 1983.
Bair first entered the financial industry that same year, joining the Commodity Futures Trading Commission (CFTC) as a civil staff attorney and quickly rising to the position of Director of the Office of Banking and Consumer Affairs in November 1985.
In June 1988, Bair left the CFTC to become the general counsel for the merged financial institution, R.J. Reynolds Personal Investments and Equitable Resources (RJR/ERI). There, she worked on de-regulation and on the repeal of banking laws such as Glass-Steagall, a feat she later admitted may have been a mistake.
In 1995, Bair left RJR/ERI and accepted an appointment from President George H. W. Bush to the Federal Deposit Insurance Corporation (FDIC). In 2006, she became the Chairman of the FDIC, directing its operations during the mortgage and banking crisis which followed the crash of 2008.
Bair's tenure at the FDIC has been praised for her work in helping prevent a liquidity crisis in the banking system. She oversaw the management of more than 800 troubled banks, thus tempering the worst of the Great Recession.
Bair thereafter served as Assistant Secretary for Financial Institutions at the Department of Treasury from 2006 to 2009, tasked with developing and advocating economic policy initiatives, enforcing consumer financial laws and regulations, and ensuring the safety of the U.S. financial services sector.
Bair returned to the private sector in 2011, becoming senior strategic advisor at the multinational investment bank and financial services company, UBS. She was also a daily contributor to Forbes magazine, and has made appearances on numerous news outlets, both print, radio and television.
Bair published her first book, Bull by the Horns: Fighting to Save Main Street from Wall Street, in 2012. In this political biography, she chronicles her career from the Reagan administration to the financial crisis of 2008. Bair uses her book to shed light on her time as Chairman of the FDIC and the challenges she faced during her tenure.
A second book, Rock On: A Working Mother's Manifesto, was released in March 2016. This autobiography offers a candid personal account of Bair's experiences as a working mother and professional. Bair argues that women should never accept the trade-offs between family and career, and shares her experiences of success and failure in achieving the perfect balance.
Today, Bair is the Senior Adviser to the Systemic Risk Council, an independent nonprofit organization devoted to encouraging the formation of effective national and international policies on systemic risk, and the Dewey Square Group. She is also a frequent lecturer and guest on CNBC and Bloomberg Television, and the proud mother of two children.
Sheila Bair's impressive career, time-tested advice, and tenacity to see projects through, have served as an inspiration to her peers, her students and the many others whose lives she has touched in the finance and business realms. Bair's expertise, leadership, and boldness in the pursuit of economic equality and justice are invaluable assets to the industry, and her contributions will continue to be felt for many years to come.
