Franklin Raines

Franklin Raines is a distinguished member of the Smithsonian Institution's Board of Regents, appointed in October 2020.3 He currently serves as the Chair of the Finance Committee.1 Raines has an extensive and impressive career spanning government, finance, and entrepreneurship:

1. He is the Executive Chairman and Co-founder of digital services companies XAPPmedia and Bespoken.io.2

2. Raines made history as the first African American CEO of a Fortune 500 corporation, serving as Chairman and CEO of Fannie Mae from 1999 to 2004.23

3. In the Clinton Administration, he held the position of Director of the Office of Management and Budget, where he played a crucial role in negotiating the Balanced Budget Act of 1997.2

4. His early career included working for Senator Moynihan in the White House and serving as the assistant director of the White House Domestic Policy Staff during the Carter administration.2

5. In the private sector, Raines was a partner at the investment bank Lazard Freres & Co from 1985 to 1991.23

6. He has served on the boards of six Fortune 100 companies and held leadership positions such as Co-Chairman of the Business Roundtable and Vice Chairman of the Business Council.2

7. Raines' educational background includes a BA Magna Cum Laude in Government from Harvard University, a Rhodes Scholarship at Oxford University, and a JD Cum Laude from Harvard Law School.3

Currently, in addition to his role at the Smithsonian, Raines serves as a Senior Advisor at Grain Management, LLC since August 2023.3