Richard F. Syron was the eleventh president at the Federal Reserve Bank of Boston, serving from January 1989 to March 1994.
Syron was born in Boston. He graduated from Boston College in 1966 and received his doctorate in economics from Tufts University in 1971.
Syron worked at the Boston Fed at two separate times. From 1974 to 1985, he served as an economist, officer, and economic adviser in the Research Department. He returned to the Reserve Bank in 1989 to serve as president for five years.
During the intervening years, he held positions at the US Treasury, served as assistant to Federal Reserve Chairman Paul Volcker, and served as president of the Federal Home Loan Bank of Boston.
As president of the Boston Fed, Syron was active in public policy debates. He sponsored a landmark study on racial discrimination in mortgage lending and played a key role in the restructuring of New England's banking system following the strains of the 1980s and early 1990s.
Syron left the Boston Fed in 1994 to become chairman and chief executive officer of the American Stock Exchange. He led this exchange through its 1999 merger into the National Association of Securities Dealers, the operator of NASDAQ. Syron then became president, chief executive officer, and later chairman of the board of Thermo Electron Corporation, a Waltham, Massachusetts, maker of high-tech instruments. In 2003, he was named chairman and chief executive officer of the Federal Home Loan Mortgage Corporation (Freddie Mac), serving in that capacity until 2008.
Syron has two children with his wife Margaret.
Written by the Federal Reserve Bank of Boston. See disclaimer.