The Federal Reserve Board on Thursday announced that Steven Kamin will take over the helm at its International Finance Division, which supports the Federal Open Market Committee by providing information and analysis pertaining to economic and financial developments in foreign countries and the performance of the U.S. external sector.

Kamin will lead the division starting Dec. 11. As the division's director, Kamin will also represent the Fed's Board at international meetings and in its contacts with foreign central banks.

Steve's deep understanding of international economic and financial matters make him uniquely qualified to lead the division during this pivotal time for the global economy, said Ben Bernanke, chairman of the Fed, in a statement.

Kamin joined the Federal Reserve Board in 1987 and was appointed to the official staff in 1999. He has been serving as acting director of the Division of International Finance since August, when former division director, D. Nathan Sheets, announced that he was stepping down.

Kamin holds a bachelor's degree from the University of California at Berkeley and received a Ph.D. in economics from the Massachusetts Institute of Technology.