Stephen H. Axilrod, a longtime official with the Federal Reserve Board of Governors, retired Monday to join a Japanese securities firm.
Axilrod, who had worked for the Fed for 34 years, retired to become a vice chairman of Nikko Securities Co. International Inc., the company announced. He also will serve as adviser to the company's Tokyo-based parent, Nikko Securities Co. Ltd.
At the time of his retirement, Axilrod was staff director and secretary of the Federal Open Market Committee, the policy-making arm of the Fed. Axilrod also had served as an economist for the Fed Open Market Committee,
In a news release, Nikko Securities Chairman Toshio Mori said Axilrod would be responsible for strategic planning and policy.
Nikko, an international financial services firm, is bidding with the Fed to become a primary government securities dealer.