Federal Reserve System Nomination of Frederick H. Schultz To Be a Member of the Board of Governors.

The President today announced that he will nominate Frederick H. Schultz, of Jacksonville, Fla., to be a member of the Board of Governors of the Federal Reserve System. Mr. Schultz replaces Philip Jackson, resigned, whose term expires in 1982.

Schultz was born January 16, 1929, in Jacksonville. He received an A.B. from Princeton University in 1952. He served in the U.S. Army from 1952 to 1954 and attended the University of Florida Law School from 1954 to 1956.

Schultz was employed in the executive training program of the Barnett National Bauk of Jacksonville in 1956 and 1957. In 1957 he opened his own office, concentrating his efforts in securities markets and in providing risk capital for new and expanding ventures.

Schultz is now chairman of the board of Barnett Investment Services, Inc., a subsidiary of Barnett Banks of Florida, and a director of Barnett Banks of Florida.

From 1963 to 1970, Schultz served as a member of the Florida House of Representatives, and in 1968 he was elected speaker of the Florida House. He was chairman of the Citizens' Committee on Education, a 2-year study of education in Florida. He served on the Jacksonville Expressway Authority from 1961 to 1963.