Scott Alvarez, the Federal Reserve's longtime general counsel, will retire later this year after nearly three dozen years at the central bank, the agency announced Wednesday.

Alvarez headed the Fed's legal division for more than 12 years and has had his imprint on every major guidance and rulemaking at the Fed over the past decade. The Fed said it will begin a search for his successor immediately.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.