Franklin Raines

Franklin Raines is Executive Chairman and Co-founder of the digital services companies XAPPmedia and, and since 2020 is a member of the Smithsonian Institution’s Board of Regents. The first African American CEO of a Fortune 500 corporation, Frank retired as Chairman and CEO of Fannie Mae in 2004. He previously served as the Director of the Office of Management and Budget in the Clinton Administration where he led the negotiations that resulted in the Balanced Budget Act of 1997. Frank began his professional career working for Senator Moynihan in the White House. He later became the assistant director of the White House Domestic Policy Staff in the Carter administration and followed that role becoming associate director of the U.S. Office of Management and Budget from 1978-1979.  Frank later joined investment bank Lazard Freres & Co where he served as partner from 1985 -1991. Frank has served on the board of Directors of six Fortune 100 companies, and also served as Co-Chairman of the Business Roundtable and Vice Chairman of the Business Council.