| For immediate release |
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The Federal Reserve Board today announced the appointment of Stephen R. Malphrus as Staff Director for Management. His appointment is effective on June 1, 1999, when S. David Frost, the current Staff Director, will retire.
The Staff Director for Management coordinates general management and administrative functions including human resources, planning and budgeting, information technology, and general logistic support. Mr. Malphrus joined the Board's staff in 1976. He was appointed an officer in 1983, and in 1988 he was promoted to Deputy Director of the Division of Information Resources Management (IRM). In 1991 he was promoted to the position of Director of IRM. In addition to his work in IRM, Mr. Malphrus has served as Assistant Staff Director for Management from 1983 to 1985 as well as on several details to other Board divisions. Mr. Malphrus holds a master's degree in management and attended the Stonier Graduate School of Banking. |