News Release 02-24-10


Financial Accounting Foundation Appoints Douglas A. Donahue, Jr., to Its Board of Trustees

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.