Richard D. Folger, Cockrell School alumnus and member of The University of Texas at Austin’s Engineering Advisory Board, has been appointed by the Federal Reserve Board of Governors in Washington, D.C., to the Federal Reserve Bank of Dallas’ El Paso Branch board of directors. He will serve a three-year term ending Dec. 31, 2017.

In this role, he will provide strategic input on regional economic conditions as part of the Federal Reserve’s monetary policy functions.

Folger, who received his bachelor’s degree from the Cockrell School's Department of Petroleum and Geosystems Engineering in 1984 is the president and CEO of Warren Equipment Company, a privately held Delaware corporate holding company. In addition, he is chairman and director of each Warren Equipment Company subsidiary. He serves as a director of the Permian Basin Petroleum Association and was the immediate past chairman of the board of trustees of Midland Memorial Hospital.

He is on the advisory boards of the Helen Greathouse Charitable Trust and Rea Charitable Trust and UT Austin's McCombs School of Business, and he serves on the executive committee of the University of Texas System Chancellor’s Council. In 2011, Folger was honored by the Cockrell School as a Distinguished Engineering Graduate.

The El Paso Branch Board of the Dallas Fed consists of seven total members, three of whom, like Folger, were appointed by the Federal Reserve Board of Governors in Washington, D.C.