DALLAS — University of Houston president and chancellor Renu Khator will become chair of the Federal Reserve Bank of Dallas in 2015.
The promotion of Khator from deputy chair was announced Nov. 19. Khator is one of nine new chairs named by the Federal Reserve.
Khator will be replaced as deputy chair by Matthew K. Rose, executive chairman of BNSF Railway Co. based in Fort Worth.
Each of the 12 Federal Reserve Banks has a nine-member board of directors. The Board of Governors in Washington, D.C., appoints three of these directors, and each year it designates one of those appointees as chair and a second as deputy chair.
Khator has been president and chancellor of UH since January 2008.
"I am excited and honored to receive this opportunity, and for the recognition it brings to the University of Houston," Khator said in a written statement. "As chair, I look forward to adding my perspective to the important monetary policy discussions conducted by the talented and dedicated members of the Federal Reserve Bank of Dallas."
Dallas Fed President Richard Fisher announced last week that he plans to step down in March.
