Norwalk, CT, February 24, 2010—The Financial Accounting
Foundation (FAF) today announced that Douglas A. (“Digger”) Donahue, Jr., has
been appointed to the FAF Board of Trustees. The FAF is the independent,
private-sector organization responsible for the oversight of the Financial
Accounting Standards Board (FASB) and the Governmental Accounting Standards
Board (GASB).
Mr. Donahue is the Managing Partner of Brown Brothers
Harriman & Co. (BBH), a position he has held since 2008. In this role, he is
responsible for managing one of the largest private banks in the United States,
one that oversees over $2 trillion in client assets and offers a wide range of
investment and securities services to a diverse, global clientele that includes
financial institutions, corporations, and individuals. Since joining the firm as
a banker in its Boston office in 1976, Mr. Donahue has served in a number of
capacities, most notably as the partner in charge of its Investor Services
business globally.
“As managing partner of Brown Brothers Harriman,
Digger brings to the Board of Trustees his unique experience leading an
international financial institution that is also privately held,” said Jack
Brennan, chairman of the FAF. “Digger’s perspective on private company financial
reporting issues will enhance the Board’s strategic initiatives in this area,
and I am pleased to join the Trustees in welcoming him to the Board.”
Mr. Donahue’s appointment is for a five-year term.
About
the Financial Accounting Foundation
The FAF is responsible for
the oversight, administration, and finances of both the Financial Accounting
Standards Board and its counterpart for state and local government, the
Governmental Accounting Standards Board. The FAF also is responsible for
selecting the members of both Boards and their respective Advisory Councils.