The Federal Reserve Board of Governors has namedMark Van Der Weide as its next general counsel. Van Der Weide, who will start later in the summer, replaces veteran Scott Alvarez, who announced his retirement in February after 36 years at the Fed, the last 12-and-a-half as GC.

A statement from the board said Van Der Weide “was chosen for his exceptional skills and experience” after the Fed considered other internal and external candidates.

Van Der Weide joined the Fed's legal division in Washington, D.C., in 1998 and most recently served as deputy director of the division of supervision and regulation. His role as deputy director was to advise the division director and board members on financial regulatory policy issues.