Lawrence K. Roos became the eighth president of the Federal Reserve Bank of St. Louis on March 22, 1976, succeeding Darryl R. Francis. He retired January 31, 1983.
Roos was born in 1918. His background included an array of banking, administration, and political experience. His political career started in 1947, when he was elected to a seat in the Missouri House of Representatives; after serving four years, he became chairman of a state committee for Dwight D. Eisenhower’s presidential campaign.
In the 1950s and early 1960s, Roos worked as a commercial banker and bank executive for Mound City Trust Company and First Security Bank in Kirkwood. He gained administrative and managerial experience as St. Louis county supervisor, serving three terms from 1963 to 1975. During his term as county supervisor, he also ran for Missouri governor but lost. Before joining the St. Louis Fed, he also worked at the First National Bank of St. Louis, where he was an executive.
Roos stated that he saw the most meaningful part of his presidency at the St. Louis Fed as the ability “to contribute to the continuation of the tradition of monetary control that has characterized this Bank for so many years.”1In addition, the Depository Institutions Deregulation and Monetary Control Act of 1980 was passed during his presidency, and the St. Louis Fed moved to a “priced-services environment.”2
After retiring from the Reserve Bank in 1983, Roos took a position at the investment banking firm Bear, Stearns and Company as a special limited partner, where he was an economic adviser on monetary policy.
Roos’ leadership earned him many accolades and awards, including a Bronze Star and five battle stars during World War II; a Spirit of Cooperation Award from the East-West Gateway Coordinating Council in 1989; and the naming of the St. Louis County Administration building to the Lawrence K. Roos Government Building in 2003.
Roos died in 2005 at the age of eighty-seven.
Federal Reserve Bank of St. Louis Eighth Note, March 1976, p. 19; January 1983, pp. 1-2, St. Louis Post-Dispatch, September 25, 2005, p. C1.
Written by the Federal Reserve Bank of St. Louis. See disclaimer.