Board of Governors of the Federal Reserve System

Federal Reserve System Organization

Congress designed the Federal Reserve System to give it a broad perspective on the economy and on economic activity in all parts of the nation. As such, the System is composed of a central, governmental agency—the Board of Governors—in Washington, D.C., and 12 regional Federal Reserve Banks. This section lists key officials across the System, including the Board of Governors, its officers, Federal Open Market Committee members, several System councils, and Federal Reserve Bank and Branch directors and officers for 2023.

Board of Governors

Members

The Board of Governors of the Federal Reserve System is composed of seven members, who are nominated by the President and confirmed by the Senate. The Chair and the Vice Chair of the Board are named by the President from among the members and are confirmed by the Senate. This section lists Board members who served in 2023. For a full list of Board members from 1914 through the present, see www.federalreserve.gov/aboutthefed/bios/board/boardmembership.htm.

Jerome H. Powell
Chair

Lael Brainard
Vice Chair (through February 20, 2023)

Philip N. Jefferson
Vice Chair (as of September 13, 2023)

Michael S. Barr
Vice Chair for Supervision

Michelle W. Bowman

Lisa D. Cook

Adriana D. Kugler (as of September 13, 2023)

Christopher J. Waller

Divisions and Officers

Fifteen divisions support and carry out the mission of the Board of Governors, which is based in Washington, D.C.

Division of Board Members

Michelle A. Smith
Assistant to the Board and Director

Jennifer C. Gallagher
Assistant to the Board

Linda L. Robertson
Assistant to the Board (through May 1, 2023)

Terrence E. Fischer
Special Assistant to Board for Public Information

Jon Faust
Senior Special Adviser to the Chair

Legal Division

Mark E. Van Der Weide
General Counsel

Jean C. Anderson
Deputy General Counsel

Richard M. Ashton
Deputy General Counsel

Charles C. Gray
Deputy General Counsel

Reena Sahni
Senior Associate
General Counsel

Alvin D. Williams
Senior Associate
General Counsel

Alicia S. Foster
Associate General Counsel

Jason A. Gonzalez
Deputy Associate
General Counsel

Asad L. Kudiya
Deputy Associate
General Counsel

Jay R. Schwartz
Deputy Associate
General Counsel

Dafina V. Stewart
Deputy Associate
General Counsel

Alison M. Thro
Deputy Associate
General Counsel (through June 1, 2023)

Evan H. Winerman
Deputy Associate
General Counsel

Lucy O. Chang
Assistant General Counsel (as of August 27, 2023)

Sean D. Croston
Assistant General Counsel

Office of the Secretary

Ann Misback
Secretary of the Board

Margaret M. Shanks
Deputy Secretary (through August 31, 2023)

Yao-Chin Chao
Deputy Associate Secretary

Michele T. Fennell
Deputy Associate Secretary

Erin M. Cayce
Assistant Secretary (as of April 23, 2023)

Division of International Finance

Beth Anne Wilson
Director

Shaghil Ahmed
Deputy Director

Stephanie E. Curcuru
Deputy Director

Sally M. Davies
Deputy Director (through February 1, 2023)

Brian M. Doyle
Deputy Director

James A. Dahl
Senior Associate Director

Matteo Iacoviello
Senior Associate Director

Paul R. Wood
Senior Associate Director

Etienne Gagnon
Associate Director

Luca Guerrieri
Associate Director

Jason J. Wu
Associate Director (through January 21, 2023)

Daniel Beltran
Deputy Associate Director

Andrea De Michelis
Deputy Associate Director

Jasper J. Hoek
Deputy Associate Director

Viktors Stebunovs
Deputy Associate Director

Emre Yoldas
Deputy Associate Director

Dario Caldara
Assistant Director

Deepa Datta
Assistant Director (as of December 17, 2023)

Andrea Pastore
Assistant Director (as of May 7, 2023)

Brett D. Berger
Senior Adviser

Carol C. Bertaut
Senior Adviser

Ricardo Correa
Senior Adviser

Martin R. Bodenstein
Adviser

Division of Financial Stability

Andreas W. Lehnert
Director

Michael T. Kiley
Deputy Director

William F. Bassett
Senior Associate Director

Elizabeth C. Klee
Senior Associate Director

John W. Schindler
Senior Associate Director (through February 1, 2023)

Namirembe E. Mukasa
Associate Director and Chief of Staff

Skander J. Van den Heuvel
Associate Director

Seung Jung Lee
Deputy Associate Director

Chiara Scotti
Deputy Associate Director (through February 16, 2023)

David Arseneau
Assistant Director

Jose Berrospide
Assistant Director (as of July 30, 2023)

Fang Cai
Assistant Director (as of July 30, 2023)

Ceyhun Durdu
Assistant Director

Alfonso Ventoso
Assistant Director (as of March 26, 2023)

Adele Cecile Morris
Senior Adviser

Todd Vermilyea
Senior Adviser

Andrew M. Cohen
Adviser

Division of Monetary Affairs

Trevor A. Reeve
Director

James A. Clouse
Deputy Director

Rochelle M. Edge
Deputy Director

Nellisha Ramdass
Deputy Director

Joshua Gallin
Secretary of the FOMC

David H. Bowman
Senior Associate Director

Margaret G. DeBoer
Senior Associate Director

J. David Lopez-Salido
Senior Associate Director

Matthew M. Luecke
Senior Associate Director

Min Wei
Senior Associate Director

Eric C. Engstrom
Associate Director

Christopher J. Gust
Associate Director

Katherine Sickbert
Associate Director (as of March 27, 2023)

Karen L. Brooks
Deputy Associate Director

Laura Lipscomb
Deputy Associate Director

Zeynep Senyuz
Deputy Associate Director

Rebecca E. Zarutskie
Deputy Associate Director

Brian Bonis
Assistant Director

Giovanni Favara
Assistant Director

Benjamin Johannsen
Assistant Director (as of March 12, 2023)

Keith Kudrycki
Assistant Director (as of May 7, 2023)

Dan Li
Assistant Director

Elizabeth L. Marx
Assistant Director

Andrew C. Meldrum
Assistant Director

Jane E. Ihrig
Senior Adviser

Don H. Kim
Senior Adviser

Edward M. Nelson
Senior Adviser

Robert J. Tetlow
Senior Adviser

Annette Vissing-Jorgensen
Senior Adviser

Mark A. Carlson
Adviser

Division of Research and Statistics

Stacey Tevlin
Director

Jeffrey C. Campione
Deputy Director

Daniel M. Covitz
Deputy Director

William L. Wascher III
Deputy Director

Stephanie Aaronson
Senior Associate Director (as of January 3, 2023)

Nicole E. Bennett
Senior Associate Director

Eric M. Engen
Senior Associate Director

Diana Hancock
Senior Associate Director

Elizabeth K. Kiser
Senior Associate Director

David E. Lebow
Senior Associate Director

Michael G. Palumbo
Senior Associate Director

John J. Stevens
Senior Associate Director

Burcu Duygan-Bump
Associate Director

J. Andrew Figura
Associate Director

Glenn R. Follette
Associate Director

Timothy A. Mullen
Associate Director

Shane M. Sherlund
Associate Director

Shawn M. Buckner
Deputy Associate Director

Erik A. Heitfield
Deputy Associate Director

Byron F. Lutz
Deputy Associate Director

Patrick E. McCabe
Deputy Associate Director

Raven S. Molloy
Deputy Associate Director

Norman J. Morin
Deputy Associate Director

Karen M. Pence
Deputy Associate Director

Paul A. Smith
Deputy Associate Director

Binoy K. Agarwal
Assistant Director and Chief

Giovanni G. Amisano
Assistant Director

Celso Brunetti
Assistant Director

Marco Cagetti
Assistant Director

Deborah M. Flores
Assistant Director

Jacob Gramlich
Assistant Director (as of April 23, 2023)

Karen Krugman
Assistant Director

Christopher J. Kurz
Assistant Director and Chief

Paul A. Lengermann
Assistant Director

Geng Li
Assistant Director

Kevin B. Moore
Assistant Director

Matthias Paustian
Assistant Director

Ekaterina Peneva
Assistant Director and Chief (as of April 23, 2023)

Gustavo Suarez
Assistant Director

Clara Vega
Assistant Director

S. Wayne Passmore
Senior Adviser

Jeremy Rudd
Senior Adviser

Steven A. Sharpe
Senior Adviser

Wendy E. Dunn
Adviser

Charles Fleischman
Adviser

Division of Supervision and Regulation

Michael S. Gibson
Director

Jennifer J. Burns
Deputy Director

Kate M. Fulton
Deputy Director

Arthur W. Lindo
Deputy Director

Mary L. Aiken
Senior Associate Director

Marta Chaffee
Senior Associate Director

Molly E. Mahar
Senior Associate Director

Richard N. Ragan
Senior Associate Director

Lisa H. Ryu
Senior Associate Director

Thomas R. Sullivan
Senior Associate Director (through February 1, 2023)

Kevin M. Bertsch
Associate Director

Christopher Finger
Associate Director

Jeffery W. Gunther
Associate Director

Anna L. Hewko
Associate Director

Kavita Jain
Associate Director

Shannon M. Kelly
Associate Director (through June 15, 2023)

Richard A. Naylor II
Associate Director

Uzma Wahhab
Associate Director

John Beebe
Deputy Associate Director

Karen A. Caplan
Deputy Associate Director

James Diggs
Deputy Associate Director

Christine E. Graham
Deputy Associate Director

Kathleen W. Johnson
Deputy Associate Director (through May 1, 2023)

Eric L. Kennedy
Deputy Associate Director

Ryan P. Lordos
Deputy Associate Director

Lara K. Lylozian
Deputy Associate Director/Chief Accountant

David K. Lynch
Deputy Associate Director

T. Kirk Odegard
Deputy Associate Director

Brent Richards
Deputy Associate Director

Vaishali D. Sack
Deputy Associate Director

Robert F. Sarama
Deputy Associate Director

Steven M. Spurry
Deputy Associate Director

Catherine A. Tilford
Deputy Associate Director

Donna J. Webb
Deputy Associate Director

Suzanne L. Williams
Deputy Associate Director

Kathryn L. Ballintine
Assistant Director

Dana L. Burnett
Assistant Director

Anthony B. Cain
Assistant Director

Juan C. Climent
Assistant Director

Keith J. Coughlin
Assistant Director (through June 1, 2023)

Joseph B. Cox
Assistant Director (as of August 27, 2023)

Stephen Curren
Assistant Director (as of March 13, 2023)

Kwayne Jennings
Assistant Director (as of October 22, 2023)

Elizabeth K. MacDonald
Assistant Director

Doriana Ruffino
Assistant Director (as of August 27, 2023)

April C. Snyder
Assistant Director

Emily P. Wells
Assistant Director (through March 1, 2023)

Norah M. Barger
Senior Adviser

Fang Du
Adviser

William F. Treacy
Adviser

Division of Consumer and Community Affairs

Eric S. Belsky
Director

V. Nicole Bynum
Deputy Director

David L. Newville
Senior Associate Director (as of June 20, 2023)

Benjamin K. Olson
Senior Associate Director

David E. Buchholz
Associate Director

Angelyque Campbell
Associate Director

Joseph A. Firschein
Associate Director

Phyllis L. Harwell
Associate Director

Drew D. Kohan
Associate Director

Marisa A. Reid
Associate Director

Caterina Petrucco-Littleton
Deputy Associate Director

Amy B. Henderson
Assistant Director

Minh-Duc T. Le
Assistant Director (through September 22, 2023)

Division of Reserve Bank Operations and Payment Systems

Matthew J. Eichner
Director

Susan V. Foley
Deputy Director

Gregory L. Evans
Senior Associate Director

Jennifer K. Liu
Senior Associate Director

Jennifer A. Lucier
Senior Associate Director

David C. Mills
Senior Associate Director

Brian A. Lawler
Associate Director

Mark D. Manuszak
Associate Director

Rebecca L. Royer
Associate Director

Stuart E. Sperry
Associate Director

Jeffrey D. Walker
Associate Director

Casey H. Clark
Deputy Associate Director

Sonja R. Danburg
Deputy Associate Director

Jason A. Hinkle
Deputy Associate Director

Laura Howard Mayer
Deputy Associate Director (as of August 14, 2023)

Caio P. Peixoto
Deputy Associate Director

Shannon Hulsandra
Assistant Director/Manager

Travis D. Nesmith
Assistant Director and Chief

Edward L. Anderson
Assistant Director

Emily A. Caron
Assistant Director

Doreen S. Chappell
Assistant Director (as of January 29, 2023)

Brian R. Gattoni
Assistant Director (as of January 30, 2023)

James D. Noonan
Assistant Director (as of August 27, 2023)

Ian C. Spear
Assistant Director

Timothy W. Maas
Senior Adviser (through April 1, 2023)

Office of the Chief Operating Officer

Patrick J. McClanahan
Chief Operating Officer

Katherine Tom
Chief Data Officer

Sheila Clark
Chief Diversity Officer

Phillip C. Daher
Associate Director

Andrew Leonard
Associate Director

Pamela C. Harris
Deputy Associate Director (as of October 23, 2023)

Division of Financial Management

Ricardo Aguilera
Director and Chief
Financial Officer

Stephen J. Bernard
Deputy Director

Monica Y. Manning
Associate Director

Thomas Murphy
Associate Director

Jeffrey R. Peirce
Associate Director

Karen L. Vassallo
Associate Director

Kimberly Briggs
Deputy Associate Director

Division of Management

Winona Varnon
Director

Kendra Gastright
Deputy Director

Tameika L. Pope
Deputy Director and CHCO

Tara Tinsley-Pelitere
Deputy Director and CTO

Curtis B. Eldridge
Senior Associate Director and Chief, LEU (through July 31, 2023)

Ann Buckingham
Associate Director

Reginald V. Roach
Associate Director

Donna J. Butler
Deputy Associate Director and Chief of Staff

Catherine Jack
Deputy Associate Director

Tim Ly
Deputy Associate Director

Timothy E. Markey
Deputy Associate Director

Stephen E. Pearson
Deputy Associate Director

Lewis Andrews
Assistant Director

Stewart A. Carroll
Assistant Director

Alfonso M. Dyson
Assistant Director and Assistant Chief, LEU (as of July 31, 2023)

Leah Middleton
Assistant Director

Division of Information Technology

Sharon L. Mowry
Director (through March 1, 2023)

Jeffrey M. Riedel
Director (as of November 20, 2023)

Andrew V. Krug
Deputy Director (through November 2, 2023)

Stephen Olden
Deputy Director

Kofi A. Sapong
Deputy Director

Glenn S. Eskow
Senior Associate Director (through May 1, 2023)

Deborah Prespare
Senior Associate Director

Sheryl Lynn Warren
Senior Associate Director

Rajasekhar R. Yelisetty
Senior Associate Director

Charles B. Young
Senior Associate Director

William K. Dennison
Deputy Associate Director

Amy Kelley
Deputy Associate Director

Brian Lester
Deputy Associate Director

Scott Meyerle
Deputy Associate Director

Can Xuan Nguyen
Deputy Associate Director

Nischala N. Nimmakayala
Deputy Associate Director

Langston Shaw
Deputy Associate Director

Jonathan F. Shrier
Deputy Associate Director

Virginia M. Wall
Deputy Associate Director

Edgar Wang
Deputy Associate Director

Ivan K. Wun
Deputy Associate Director (through July 31, 2023)

Michelle L. Bagg
Assistant Director (as of April 9, 2023)

Tannaz Haddadi
Assistant Director (as of March 13, 2023)

Herman Ip
Assistant Director

Fred Vu
Assistant Director

Office of Inspector General

Mark Bialek
Inspector General

Fred Gibson
Deputy Inspector General

Cynthia Gray
Deputy Associate Inspector General

Stephen Carroll
Associate Inspector General

Michael VanHuysen
Associate Inspector General

Jason A. Derr
Assistant Inspector General

Khalid A. Hassan
Assistant Inspector General (as of February 26, 2023)

Jina Hwang
Assistant Inspector General

Jacqueline M. Becker
Senior Adviser

Federal Open Market Committee

The Federal Open Market Committee is made up of the seven members of the Board of Governors; the president of the Federal Reserve Bank of New York; and four of the remaining eleven Federal Reserve Bank presidents, who serve one-year terms on a rotating basis. During 2023, the Federal Open Market Committee held eight regularly scheduled meetings (see appendix B, "Minutes of Federal Open Market Committee Meetings").

Members

Jerome H. Powell
Chair, Board of Governors

John C. Williams
Vice Chair, President, Federal Reserve Bank of New York

Michael S. Barr
Member, Board of Governors

Michelle W. Bowman
Member, Board of Governors

Lael Brainard
Member, Board of Governors (through February 20, 2023)

Susan M. Collins
President, Federal Reserve Bank of Boston

Lisa D. Cook
Member, Board of Governors

Austan D. Goolsbee
President, Federal Reserve Bank of Chicago

Patrick Harker
President, Federal Reserve Bank of Philadelphia

Philip N. Jefferson
Member, Board of Governors

Neel Kashkari
President, Federal Reserve Bank of Minneapolis

Adriana D. Kugler
Member, Board of Governors (as of September 13, 2023)

Lorie K. Logan
President, Federal Reserve Bank of Dallas

Christopher J. Waller
Member, Board of Governors

Alternate Members

Thomas I. Barkin
President, Federal Reserve Bank of Richmond

Raphael W. Bostic
President, Federal Reserve Bank of Atlanta

Mary C. Daly
President, Federal Reserve Bank of San Francisco

Loretta J. Mester
President, Federal Reserve Bank of Cleveland

Helen E. Mucciolo
Interim First Vice President, Federal Reserve Bank of New York (through March 1, 2023)

Sushmita Shukla
First Vice President, Federal Reserve Bank of New York (as of March 2, 2023)

Officers

Joshua Gallin
Secretary

Matthew M. Luecke
Deputy Secretary

Brian J. Bonis
Assistant Secretary

Michelle A. Smith
Assistant Secretary

Mark E. Van Der Weide
General Counsel

Richard Ostrander
Deputy General Counsel

Charles C. Gray
Assistant General Counsel

Trevor A. Reeve
Economist

Stacey Tevlin
Economist

Beth Anne Wilson
Economist

Shaghil Ahmed
Associate Economist

Roc Armenter
Associate Economist

James A. Clouse
Associate Economist

Brian M. Doyle
Associate Economist

Eric M. Engen
Associate Economist

Beverly Hirtle
Associate Economist

Anna Paulson
Associate Economist

Andrea Raffo
Associate Economist

Chiara Scotti
Associate Economist (as of February 16, 2023)

William L. Wascher
Associate Economist

Roberto Perli
Manager, System Open Market Account (as of February 21, 2023)

Julie Ann Remache
Deputy Manager, System Open Market Account (as of February 21, 2023)

Patricia Zobel
Deputy Manager, System Open Market Account (through February 20, 2023)

Board of Governors Advisory Councils

The Federal Reserve Board uses advisory committees in carrying out its varied responsibilities. To learn more, visit https://www.federalreserve.gov/aboutthefed/advisorydefault.htm.

Federal Advisory Council

The Federal Advisory Council—a statutory body established under the Federal Reserve Act—consults with and advises the Board of Governors on all matters within the Board's jurisdiction. It is composed of one representative from each Federal Reserve District, chosen by the Reserve Bank in that District. The president and vice president of the council are selected from amongst council members. The Federal Reserve Act requires the council to meet in Washington, D.C., at least four times a year. In 2023, the council met on February 8–9, May 10–11, September 6–7, and November 29–30. The council met with the Board on February 9, May 11, September 7, and November 30, 2023.

Members

District 1

Robert F. Rivers
Chairman and Chief Executive Officer, Eastern Bank, Boston, MA

District 2

Marianne Lakes
Co-CEO of Consumer & Community Banking, JPMorgan Chase & Co., New York, NY

District 3

Jeffrey M. Schweitzer
President and Chief Executive Officer, Univest Bank and Trust Co., Souderton, PA

District 4

William S. Demchak
Chairman, President, and Chief Executive Officer, PNC Financial Services Group, Pittsburgh, PA

District 5

William H. Rogers Jr.
Chairman and Chief Executive Officer, Truist Financial Corp., Charlotte, NC

District 6

John M. Turner Jr.
President and Chief Executive Officer, Regions Financial Corp., Birmingham, AL

District 7

David R. Casper
Chairman and Chief Executive Officer, BMO Harris Bank, Chicago, IL

District 8

George A. Makris Jr.
Executive Chairman, Simmons First National Corp.: Simmons Bank, Pine Bluff, AR

District 9

Andrew Cecere
Chairman, President, and Chief Executive Officer, U.S. Bancorp, Minneapolis, MN

District 10

Jill Castilla
President and Chief Executive Officer, Citizens Bank of Edmond, Edmond, OK

District 11

David Zalman
Senior Chairman and Chief Executive Officer, Prosperity Bancshares/Prosperity Bank, El Campo, TX

District 12

Nandita Bakhshi
Adviser, Bank of Montreal, San Francisco, CA

Officers

Jeffrey M. Schweitzer
President

David R. Casper
Vice President

Herb Taylor
Secretary

Luba Romanyuk
Deputy Secretary

Community Depository Institutions Advisory Council

The Community Depository Institutions Advisory Council advises the Board of Governors on the economy, lending conditions, and other issues of interest to community depository institutions. Members are selected from among representatives of banks, thrift institutions, and credit unions who are serving on local advisory councils at the 12 Federal Reserve Banks. One member of each of the Reserve Bank councils serves on the Community Depository Institutions Advisory Council. The president and vice president are selected from amongst council members. The council usually meets with the Board twice a year in Washington, D.C. In 2023, the council met on April 13 and November 16.

Members

District 1

Kathryn G. Underwood
Adviser, Ledyard National Bank, Hanover, NH

District 2

James S. Vaccaro
Chair, President, and Chief Executive Officer, Manasquan Bank, Wall Township, NJ

District 3

Jeane M. Vidoni
President and Chief Executive Officer, Penn Community Bank, Perkasie, PA

District 4

Chuck Sulerzyski
President and Chief Executive Officer, Peoples Bank, Marietta, OH

District 5

Daniel P. Berry
President and Chief Executive Officer, Duke University Federal Credit Union, Durham, NC

District 6

Tyler K. Clinch
Chief Executive Officer and President, First Community Bank of East Tennessee, Kingsport, TN

District 7

Kent A. Liechty
President and Chief Executive Officer, First Bank of Berne, Berne, IN

District 8

Luanne Cundiff
President and Chief Executive Officer, First State Bank of St. Charles, St. Charles, MO

District 9

Dylan S. Clarkson
President and Chief Executive Officer, Pioneer Bank & Trust, Spearfish, SD

District 10

Kim DeVore
President and Chief Executive Officer, Jonah Bank of Wyoming, Casper, WY

District 11

Tracy Harris
President and Chief Executive Officer, National Bank & Trust, La Grange, TX

District 12

Janet Silveria
President and Chief Executive Officer, Community Bank of Santa Maria, Santa Maria, CA

Officers

Jeane M. Vidoni
President

Chuck Sulerzyski
Vice President

Community Advisory Council

The Community Advisory Council was formed in 2015 to advise the Board of Governors on the economic circumstances and financial services needs of consumers and communities, with a particular focus on the concerns of low- and moderate-income populations. The council is composed of a diverse group of experts and representatives of consumer and community development organizations and interests, including from such fields as affordable housing, community and economic development, employment and labor, financial services and technology, small business, and asset and wealth building. One member of the council serves as its chair. The council first met with the Board in November 2015, and meets with the Board twice each year. In 2023, the council met with the Board on May 18 and October 19.

Members

Ivye Allen
President, Foundation for the Mid South, Jackson, MS

Daniel Betancourt
President and CEO, Community First Fund, Lancaster, PA

Carlos J. Contreras III
President and CEO, Goodwill Industries of San Antonio, San Antonio, TX

Fearn Gupton
Rural Development Manager, South Carolina Department of Commerce, Columbia, SC

Melanie Hogan
Executive Director, Linking Employment, Abilities, and Potential (LEAP), Cleveland, OH

Michelle Ka'uhane
Senior Vice President & Chief Impact Officer, Hawaii Community Foundation, Honolulu, HI

Megan Langley
Executive Director, Strengthen North Dakota, Souris, ND

Chan U. Lee
President and CEO, Devine & Gong, Inc., Oakland, CA

Darlene Lombos
Executive Secretary-Treasurer, Boston Labor Council, Boston, MA

Christie McCravy
Executive Director, Louisville Metro Affordable Housing Trust Fund, Louisville, KY

Dr. Laura Murillo
President and CEO, Houston Hispanic Chamber of Commerce, Houston, TX

Ceyl Prinster
President and CEO, Colorado Enterprise Fund, Denver, CO

Eric Robertson
Executive Director, The Formanek Foundation, Memphis, TN

Arjan Schutte
Founder and Managing Partner, Core Innovation Capital, San Francisco, CA

Kendra N. Smith
Vice President, Community Health, Bon Secours Mercy Health, Toledo, OH

Officers

Daniel Betancourt
Chair

Christie McCravy
Vice Chair

Model Validation Council

The Model Validation Council was established in 2012 by the Board of Governors to provide expert and independent advice on its process to rigorously assess the models used in stress tests of banking institutions. The Dodd-Frank Wall Street Reform and Consumer Protection Act required the Federal Reserve to conduct annual stress tests of large bank holding companies and systemically important, nonbank financial institutions supervised by the Board. The Model Validation Council provides input on the Board's efforts to assess the effectiveness of the models used in the stress tests. The council is intended to improve the quality of the Federal Reserve's model assessment program and to strengthen the confidence in the integrity and independence of the program.

Members

The council had no members or meetings during 2023.

Federal Reserve Banks and Branches

To carry out the day-to-day operations of the Federal Reserve System, the nation has been divided into 12 Federal Reserve Districts, each with a Reserve Bank. The majority of Reserve Banks also have at least one Branch.

Reserve Bank and Branch Directors

As required by the Federal Reserve Act, each Federal Reserve Bank is supervised by a nine-member board with three different classes of three directors each: Class A directors, who are nominated and elected by the member banks in that District to represent the stockholding banks; Class B directors, who are nominated and elected by the member banks to represent the public; and Class C directors, who are appointed by the Board of Governors to represent the public. Class B and Class C directors are selected with due, but not exclusive, consideration to the interests of agriculture, commerce, industry, services, labor, and consumers. Each Federal Reserve Bank Branch also has a board with either five or seven directors. A majority of the directors on each Branch board are appointed by the Federal Reserve Bank, with the remaining directors appointed by the Board of Governors.

For more information on Reserve Bank and Branch directors, see https://www.federalreserve.gov/aboutthefed/directors/about.htm.

Reserve Bank and Branch directors are listed below. For each director, the class of directorship, the director's principal place of business, and the expiration date of the director's current term are shown. Also shown are maps that identify Federal Reserve Districts by their official number, city, and letter designation. For more information on the Federal Reserve indicator letters, see https://www.uscurrency.gov/denominations/bank-note-identifiers.

 

District 1–Boston

Covers the states of Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont; and all but Fairfield County in Connecticut.

For more information on this District and to learn more about the Federal Reserve Bank of Boston's operations, visit https://www.bostonfed.org. Information on economic conditions for this District can be found in the Federal Reserve System's Beige Book at https://www.federalreserve.gov/monetarypolicy/beige-book-default.htm. Also find the Reserve Bank's financial statements for 2023 at https://www.federalreserve.gov/aboutthefed/files/bostonfinstmt2023.pdf.

Class A

Jeanne A. Hulit, 2023
President and Chief Executive Officer, Maine Community Bank, Biddeford, ME

Sushil K. Tuli, 2024
Chairman and Chief Executive Officer, Leader Bank, N.A., Arlington, MA

Ronald P. O'Hanley, 2025
Chairman and Chief Executive Officer, State Street, Boston, MA

Class B

Kimberly Sherman Stamler, 2023
President, Related Beal, Boston, MA

Lauren A. Smith, 2024
Chief Health Equity and Strategy Officer, CDC Foundation, Boston, MA

Vacancy, 2025

Class C

Roger W. Crandall, 2023
Chairman, President, and Chief Executive Officer, Massachusetts Mutual Life Insurance Company, Springfield, MA

Corey Thomas, 2024
Chairman and Chief Executive Officer, Rapid7, Inc., Boston, MA

Lizanne Kindler, 2025
Executive Chair and Chief Executive Officer, KnitWell Group, Hingham, MA

 

District 2–New York

Covers the state of New York, Fairfield County in Connecticut, and 12 counties in northern New Jersey, and serves the Commonwealth of Puerto Rico and the U.S. Virgin Islands.

For more information on this District and to learn more about the Federal Reserve Bank of New York's operations, visit https://www.newyorkfed.org/. Information on economic conditions for this District can be found in the Federal Reserve System's Beige Book at https://www.federalreserve.gov/monetarypolicy/beige-book-default.htm. Also find the Reserve Bank's financial statements for 2023 at https://www.federalreserve.gov/aboutthefed/files/newyorkfinstmt2023.pdf.

Class A

Vacancy, 2023

René F. Jones, 2024
Chairman and Chief Executive Officer, M&T Bank Corporation, Buffalo, NY

Douglas L. Kennedy, 2025
President and Chief Executive Officer, Peapack-Gladstone Bank, Bedminster, NJ

Class B

Arvind Krishna, 2023
Chairman and Chief Executive Officer, IBM, New York, NY

Scott Rechler, 2024
Chairman and Chief Executive Officer, RXR, New York, NY

Adena T. Friedman, 2025
President and Chief Executive Officer, Nasdaq, New York, NY

Class C

Rosa Gil, 2023
Founder, President, and Chief Executive Officer, Comunilife, Inc., New York, NY

Vincent Alvarez, 2024
President, New York City Central Labor Council, AFL-CIO, New York, NY

Pat Wang, 2025
President and Chief Executive Officer, Healthfirst, New York, NY

 

District 3–Philadelphia

Covers the state of Delaware, 9 counties in southern New Jersey, and 48 counties in the eastern two-thirds of Pennsylvania.

For more information on this District and to learn more about the Federal Reserve Bank of Philadelphia's operations, visit https://www.philadelphiafed.org/. Information on economic conditions for this District can be found in the Federal Reserve System's Beige Book at https://www.federalreserve.gov/monetarypolicy/beige-book-default.htm. Also find the Reserve Bank's financial statements for 2023 at https://www.federalreserve.gov/aboutthefed/files/philadelphiafinstmt2023.pdf.

Class A

Randall E. Black, 2023
President and Chief Executive Officer, Citizens Financial Services Inc. and First Citizen's Community Bank, Mansfield, PA

Timothy Snyder, 2024
President and Chief Executive Officer, Fleetwood Bank, Fleetwood, PA

Christopher D. Maher, 2025
Chairman and Chief Executive Officer, OceanFirst Bank, N.A., Toms River, NJ

Class B

Bret S. Perkins, 2023
Senior Vice President, External and Government Affairs, Comcast Corporation, Philadelphia, PA

Julia H. Klein, 2024
Chairwoman and Chief Executive Officer, C. H. Briggs Company, Reading, PA

John Fry, 2025
President, Drexel University, Philadelphia, PA

Class C

William Lo, 2023
President, Crystal Steel Fabricators, Inc., Delmar, DE

Sharmain Matlock-Turner, 2024
Chief Executive Officer, Urban Affairs Coalition, Philadelphia, PA

Anthony Ibarguen, 2025
Chief Executive Officer, Quench USA, Inc., King of Prussia, PA

 

District 4–Cleveland

Covers the state of Ohio, 56 counties in eastern Kentucky, 19 counties in western Pennsylvania, and 6 counties in northern West Virginia.

For more information on this District and to learn more about the Federal Reserve Bank of Cleveland's operations, visit https://www.clevelandfed.org/. Information on economic conditions for this District can be found in the Federal Reserve System's Beige Book at https://www.federalreserve.gov/monetarypolicy/beige-book-default.htm. Also find the Reserve Bank's financial statements for 2023 at https://www.federalreserve.gov/aboutthefed/files/clevelandfinstmt2023.pdf.

Class A

Dean J. Miller, 2023
President and Chief Executive Officer, First National Bank of Bellevue, Bellevue, OH

Eddie L. Steiner, 2024
President and Chief Executive Officer, CSB Bancorp, Inc., Millersburg, OH

Helga Houston, 2025
Senior Executive Vice President and Chief Risk Officer, Huntington Bancshares Inc., Columbus, OH

Class B

Darrell McNair, 2023
President, MVP Plastics, Inc., Middlefield, OH

Jacqueline Gamblin, 2024
Chief Executive Officer, JYG Innovations, Dayton, OH

Holly B. Wiedemann, 2025
Founder, AU Associates, Inc., Lexington, KY

Class C

Doris Carson Williams, 2023
President and Chief Executive Officer, African American Chamber of Commerce of Western Pennsylvania, Pittsburgh, PA

Vacancy, 2024

Heidi L. Gartland, 2025
Chief Government and Community Relations Officer, University Hospitals, Cleveland, OH

Cincinnati Branch

Appointed by the Federal Reserve Bank

Alfonso Cornejo, 2023
President, Hispanic Chamber Cincinnati USA, Cincinnati, OH

David C. Evans, 2023
President and Chief Executive Officer, TESSEC LLC, Dayton, OH

Archie M. Brown, 2024
President and Chief Executive Officer, First Financial Bancorp, Cincinnati, OH

Gina McFarlane-El, 2025
Chief Executive Officer, Five Rivers Health Centers, Dayton, OH

Appointed by the Board of Governors

Melvin Gravely, 2023
Chief Executive Officer, TriVersity Construction, Cincinnati, OH

Rachid Abdallah, 2024
Chairman and Chief Executive Officer, Jedson Engineering, Cincinnati, OH

Jill Meyer, 2025
Chief Executive Officer, Cincinnati USA Chamber of Commerce, Cincinnati, OH

Pittsburgh Branch

Appointed by the Federal Reserve Bank

Earl Buford, 2023
President, CAEL, Indianapolis, IN

Christina A. Cassotis, 2023
Chief Executive Officer, Allegheny County Airport Authority, Pittsburgh, PA

Nishan J. Vartanian, 2024
President and Chief Executive Officer, MSA Safety Incorporated, Cranberry Township, PA

Sanjay Chopra, 2025
Co-Founder and Chief Executive Officer, Cognistx, Pittsburgh, PA

Appointed by the Board of Governors

Kathy Wilson Humphrey, 2023
President, Carlow University, Pittsburgh, PA

Vera Krekanova, 2024
Chief Strategy and Research Officer, Allegheny Conference on Community Development, Pittsburgh, PA

Eugene Boyer III, 2025
Brokerage Advisor, NAI Burns Scalo, Pittsburgh, PA

 

District 5–Richmond

Covers the states of Maryland, Virginia, North Carolina, and South Carolina; 49 counties constituting most of West Virginia; and the District of Columbia.

For more information on this District and to learn more about the Federal Reserve Bank of Richmond's operations, visit https://www.richmondfed.org/. Information on economic conditions for this District can be found in the Federal Reserve System's Beige Book at https://www.federalreserve.gov/monetarypolicy/beige-book-default.htm. Also find the Reserve Bank's financial statements for 2023 at https://www.federalreserve.gov/aboutthefed/files/richmondfinstmt2023.pdf.

Class A

Jennifer LaClair, 2023
Chief Revenue Officer, Fiserv, Charlotte, NC

James H. Sills III, 2024
President and Chief Executive Officer, Mechanics and Farmers Bank, Durham, NC

Alice P. Frazier, 2025
President and Chief Executive Officer, Bank of Charles Town, Charles Town, WV

Class B

Robert M. Blue, 2023
President and Chief Executive Officer, Dominion Energy, Richmond, VA

Vacancy, 2024

Wayne A. I. Frederick, MD, 2025
President, Howard University, Washington, DC

Class C

Lisa M. Hamilton, 2023
President and Chief Executive Officer, The Annie E. Casey Foundation, Baltimore, MD

Halsey M. Cook, 2024
President and Chief Executive Officer, Milliken, Spartanburg, SC

Jodie McLean, 2025
Chief Executive Officer, EDENS, Washington, DC

Baltimore Branch

Appointed by the Federal Reserve Bank

Brenda Galgano, 2023
Senior Vice President and Chief Financial Officer, Perdue, Salisbury, MD

Tom Geddes, 2024
Partner and Portfolio Manager, Brown Advisory, Baltimore, MD

Mary McDuffie, 2024
President and Chief Executive Officer, Navy Federal Credit Union, Vienna, VA

Cecilia A. Hodges, 2025
Regional President Greater Washington and Virginia, M&T Bank, Falls Church, VA

Appointed by the Board of Governors

Leslie D. Hale, 2023
President and Chief Executive Officer, RLJ Lodging Trust, Bethesda, MD

Brian McLaughlin, 2024
Former President, Enterprise Community Development Inc.,
Silver Spring, MD

William J. McCarthy, 2025
Executive Director, Catholic Charities of Baltimore, Baltimore, MD

Charlotte Branch

Appointed by the Federal Reserve Bank

Vacancy, 2023

Samuel L. Erwin, 2024
Executive Vice President, First Horizon Bank, Greenville, SC

George Dean Johnson III, 2024
Chief Executive Officer, Johnson Development Associates, Inc., Spartanburg, SC

Dionne Nelson, 2025
President and Chief Executive Officer, Laurel Street Residential, Charlotte, NC

Appointed by the Board of Governors

R. Glenn Sherrill Jr., 2023
Chairman and Chief Executive Officer, SteelFab Inc., Charlotte, NC

Bernett William Mazyck, 2024
President and Chief Executive Officer, South Carolina Association for Community Economic Development, Charleston, SC

James F. Goodmon Jr., 2025
President and Chief Operating Officer, Capitol Broadcasting Company, Raleigh, NC

 

District 6–Atlanta

Covers the states of Alabama, Florida, and Georgia; 74 counties in the eastern two-thirds of Tennessee; 38 parishes of southern Louisiana; and 43 counties of southern Mississippi.

For more information on this District and to learn more about the Federal Reserve Bank of Atlanta's operations, visit https://www.frbatlanta.org/. Information on economic conditions for this District can be found in the Federal Reserve System's Beige Book at https://www.federalreserve.gov/monetarypolicy/beige-book-default.htm. Also find the Reserve Bank's financial statements for 2023 at https://www.federalreserve.gov/aboutthefed/files/atlantafinstmt2023.pdf.

Class A

Rajinder P. Singh, 2023
Chairman, President, and Chief Executive Officer, BankUnited, Inc., Miami Lakes, FL

Abel L. Iglesias, 2024
Executive Vice President and Miami-Dade Regional President, Seacoast Bank, Coral Gables, FL

Cynthia N. Day, 2025
President and Chief Executive Officer, Citizens Trust Bank, Atlanta, GA

Class B

John W. Garratt, 2023
Former President and Chief Financial Officer, Dollar General, Goodlettsville, TN

Michael Russell, 2024
Chief Executive Officer, H.J. Russell and Company, Atlanta, GA

Nicole B. Thomas, 2025
Hospital President, Baptist Medical Center Jacksonville, Jacksonville, FL

Class C

Gregory A. Haile, 2023
Former President, Broward College, Fort Lauderdale, FL

Claire Lewis Arnold, 2024
Chief Executive Officer, Leapfrog Services, Inc., Atlanta, GA

James O. Etheredge, 2025
Special Advisor to the Chief Executive Officer, Accenture North America, Atlanta, GA

Birmingham Branch

Appointed by the Federal Reserve Bank

Samuel N. Addy, 2023
Senior Research Economist, The University of Alabama, Tuscaloosa, AL

Michelle Lewis, 2024
Chief Financial Officer, AAA Cooper Transportation, Dothan, AL

David L. Nast, 2024
President, Alabama/Florida Panhandle, United Community Bank, Huntsville, AL

Melanie Bridgeforth, 2025
President and Chief Executive Officer, Women's Foundation of Alabama, Birmingham, AL

Appointed by the Board of Governors

Hafiz Chandiwala, 2023
Executive Vice President and Chief Administrative Officer, Coca Cola Bottling Company United, Inc., Birmingham, AL

Christy Thomas, 2024
Chief Financial Officer, BLOX, Bessemer, AL

Randall P. Breaux, 2025
Group President, Genuine Parts Company of North America, Birmingham, AL

Jacksonville Branch

Appointed by the Federal Reserve Bank

William O. West, 2023
Vice Chair, The Bank of Tampa, Tampa, FL

Monesia T. Brown, 2024
Director of Public Affairs and Government Relations, Walmart, Inc., Tallahassee, FL

Brian E. Wolfburg, 2024
President and Chief Executive Officer, VyStar Credit Union, Jacksonville, FL

R. Andrew Watts, 2025
Executive Vice President, Chief Financial Officer, and Treasurer, Brown & Brown, Inc., Daytona Brach, FL

Appointed by the Board of Governors

Edward A. Moratin, 2023
President, LIFT Orlando, Orlando, FL

Timothy P. Cost, 2024
President, Jacksonville University, Jacksonville, FL

Lisa Palmer, 2025
President and Chief Executive Officer, Regency Centers Corporation, Jacksonville, FL

Miami Branch

Appointed by the Federal Reserve Bank

Daniel Lavender, 2023
Chief Executive Officer, Moorings Park Institute, Inc., Naples, FL

N. Maria Menendez, 2023
Chief Financial Officer, GL Homes of Florida Holding, Sunrise, FL

Ginger Martin, 2024
President and Chief Executive Officer, American National Bank, Oakland Park, FL

Jose Cueto, 2025
President and Chief Operating Officer, Grove Bank and Trust, Miami, FL

Appointed by the Board of Governors

Keith T. Koenig, 2023
Chief Executive Officer, City Furniture, Tamarac, FL

Kathleen Cannon, 2024
President and Chief Executive Officer, United Way of Broward County,
Fort Lauderdale, FL

Rita Case, 2025
President and Chief Executive Officer, Rick Case Automotive Group, Sunrise, FL

Nashville Branch

Appointed by the Federal Reserve Bank

Marshall E. Crawford Jr., 2023
President and Chief Executive Officer, The Housing Fund, Inc., Nashville, TN

Amanda Hite, 2024
President, STR, Hendersonville, TN

Leif M. Murphy, 2024
Chief Executive Officer, TeamHealth Holdings, Inc., Knoxville, TN

Steven Woodward, 2025
Former President and Chief Executive Officer, Kirkland's Inc., Brentwood, TN

Appointed by the Board of Governors

Amanda Mathis, 2023
Chief Financial Officer, Bridgestone Americas, Inc., Nashville, TN

Thomas Zacharia, 2024
Former Laboratory Director/Former President and Chief Executive Officer, Oak Ridge National Laboratory/ UT-Battelle, LLC, Oak Ridge, TN

William E. Fuller, 2025
Former President and Chief Executive Officer, U.S. Xpress, Inc., Chattanooga, TN

New Orleans Branch

Appointed by the Federal Reserve Bank

William G. Yates III, 2023
President and Chief Executive Officer, W.G. Yates & Sons Construction Company, Biloxi, MS

Katherine A. Crosby, 2024
Board Chair, Fidelity Bank,
New Orleans, LA

David T. Darragh, 2024
Operating Partner, LongueVue Capital, Metairie, LA

William J. Bynum, 2025
Chief Executive Officer, Hope Credit Union, Hope Enterprise Corp., and Hope Policy Institute, Jackson, MS

Appointed by the Board of Governors

Michael E. Hicks Jr., 2023
President and Chief Executive Officer, Hixardt Technologies, Inc.,
Pensacola, FL

John C. Driscoll, 2024
Director and Chief Executive Officer, Alabama State Port Authority,
Mobile, AL

Melissa B. Rogers, 2025
President and Founder, Noble Plastics, Grand Coteau, LA

 

District 7–Chicago

Covers the state of Iowa, 68 counties of northern Indiana, 50 counties of northern Illinois, 68 counties of southern Michigan, and 46 counties of southern Wisconsin.

For more information on this District and to learn more about the Federal Reserve Bank of Chicago's operations, visit https://www.chicagofed.org/. Information on economic conditions for this District can be found in the Federal Reserve System's Beige Book at https://www.federalreserve.gov/monetarypolicy/beige-book-default.htm. Also find the Reserve Bank's financial statements for 2023 at https://www.federalreserve.gov/aboutthefed/files/chicagofinstmt2023.pdf.

Class A

Michael O'Grady, 2023
Chairman, President, and Chief Executive Officer, Northern Trust, Chicago, IL

Christopher J. Murphy III, 2024
Chairman and Chief Executive Officer, 1st Source Bank, South Bend, IN

Susan Whitson, 2025
Chief Executive Officer, First Bank, and President, First of Waverly Corporation, Waverly, IA

Class B

David Cyril Habiger, 2023
President and Chief Executive Officer, J.D. Power, Troy, MI

Linda P. Hubbard, 2024
President and Chief Operating Officer, Carhartt, Inc., Dearborn, MI

Linda Jojo, 2025
Executive Vice President, Chief Customer Officer, United Airlines, Inc., Chicago, IL

Class C

Jennifer Scanlon, 2023
President and Chief Executive Officer, UL Solutions, Northbrook, IL

Juan Salgado, 2024
Chancellor, City Colleges of Chicago, Chicago, IL

Maurice Smith, 2025
President, Chief Executive Officer, and Vice Chair, Health Care Service Corporation, Chicago, IL

Detroit Branch

Appointed by the Federal Reserve Banks

JoAnn Chavez, 2023
Senior Vice President and Chief Legal Officer, DTE Energy, Detroit, MI

Kevin Nowlan, 2023
Executive Vice President and Chief Financial Officer, BorgWarner Inc., Auburn Hills, MI

Anika Goss, 2024
Chief Executive Officer, Detroit Future City, Detroit, MI

Ronald E. Hall, 2025
President and Chief Executive Officer, Bridgewater Interiors, LLC, Detroit, MI

Appointed by the Board of Governors

M. Roy Wilson, 2023
Former President, Wayne State University, Detroit, MI

James M. Nicholson, 2024
Co-Chairman, PVS Chemicals, Inc., Detroit, MI

Sandy K. Baruah, 2025
President and Chief Executive Officer, Detroit Regional Chamber, Detroit, MI

 

District 8–St. Louis

Covers the state of Arkansas, 44 counties in southern Illinois, 24 counties in southern Indiana, 64 counties in western Kentucky, 39 counties in northern Mississippi, 71 counties in central and eastern Missouri, the city of St. Louis, and 21 counties in western Tennessee.

For more information on this District and to learn more about the Federal Reserve Bank of St. Louis's operations, visit https://www.stlouisfed.org/. Information on economic conditions for this District can be found in the Federal Reserve System's Beige Book at https://www.federalreserve.gov/monetarypolicy/beige-book-default.htm. Also find the Reserve Bank's financial statements for 2023 at https://www.federalreserve.gov/aboutthefed/files/stlouisfinstmt2023.pdf.

Class A

Elizabeth G. McCoy, 2023
Chief Executive Officer, Planters Bank, Inc., Hopkinsville, KY

Misty Borrowman, 2024
President and Chief Executive Officer, Bank of Hillsboro, Hillsboro, IL

C. Mitchell Waycaster, 2025
President and Chief Executive Officer, Renasant Bank, Tupelo, MS

Class B

R. Andrew Clyde, 2023
President and Chief Executive Officer, Murphy USA Inc., El Dorado, AR

Michael Ugwueke, 2024
President and Chief Executive Officer, Methodist Le Bonheur Healthcare, Memphis, TN

Penelope Pennington, 2025
Managing Partner, Edward Jones, St. Louis, MO

Class C

James M. McKelvey Jr., 2023
Founder and Chief Executive Officer, Invisibly, Inc., St. Louis, MO

Lal Karsanbhai, 2024
Chief Executive Officer, Emerson Electric Co., St. Louis, MO

Carolyn Chism Hardy, 2025
President and Chief Executive Officer, Chism Hardy Investments, LLC, Collierville, TN

Little Rock Branch

Appointed by the Federal Reserve Bank

Denise Thomas, 2023
Chief Executive Officer, World Trade Center Arkansas, Rogers, AR

Darrin Williams, 2023
Chief Executive Officer, Southern Bancorp, Inc., Little Rock, AR

Jeff Lynch, 2024
President and Chief Executive Officer, Eagle Bank & Trust Co., Little Rock, AR

Christopher B. Hegi, 2025
President and Chief Executive Officer, First Financial Bank, El Dorado, AR

Appointed by the Board of Governors

Vickie D. Judy, 2023
Chief Financial Officer and Vice President, America's Car-Mart, Inc., Bentonville, AR

Jamie J. Henry, 2024
Vice President Finance, Emerging Payments, Walmart Inc., Bentonville, AR

Allison J. H. Thompson, 2025
President and Chief Executive Officer, Economic Development Alliance for Jefferson County, Arkansas, Pine Bluff, AR

Louisville Branch

Appointed by the Federal Reserve Bank

Tara England Barney, 2023
President and Chief Executive Officer, Southwest Indiana Chamber of Commerce, Evansville, IN

Blake B. Willoughby, 2023
President and Chairman, First Breckinridge Bancshares, Inc., Irvington, KY

Dave W. Christopher, 2024
Founder and Executive Director, AMPED Louisville, Louisville, KY

James A. Hillebrand, 2025
Chairman and Chief Executive Officer, Stock Yards Bank & Trust, Louisville, KY

Appointed by the Board of Governors

Sadiqa N. Reynolds, 2023
Chief Executive Officer, Perception Institute, Brooklyn, NY

Emerson M. Goodwin, 2024
Senior Vice President of Business Development, ARcare, Bentonville, AR

David Tatman, 2025
Assistant Plant Manager and Director of Engineering, Bendix Commercial Vehicle Systems, Bowling Green, KY

Memphis Branch

Appointed by the Federal Reserve Bank

Jeff Agee, 2023
Chairman and Chief Executive Officer, First Citizens National Bank, Dyersburg, TN

Henry N. Reichle Jr., 2023
President and Chief Executive Officer, Staplcotn, Greenwood, MS

Tyrone Burroughs, 2024
President and Chief Executive Officer, First Choice Sales and Marketing Group Inc., Memphis, TN

R. Davy Carter, 2025
Regional President, Home BancShares, Inc., Jonesboro, AR

Appointed by the Board of Governors

Beverly Crossen, 2023
Owner, Farmhouse Tupelo, Tupelo, MS

Tracy D. Hall, 2024
President, Southwest Tennessee Community College, Memphis, TN

Vacancy, 2025

 

District 9–Minneapolis

Covers the states of Minnesota, Montana, North Dakota, and South Dakota; the Upper Peninsula of Michigan; and 26 counties in northern Wisconsin.

For more information on this District and to learn more about the Federal Reserve Bank of Minneapolis's operations, visit https://www.minneapolisfed.org/. Information on economic conditions for this District can be found in the Federal Reserve System's Beige Book at https://www.federalreserve.gov/monetarypolicy/beige-book-default.htm. Also find the Reserve Bank's financial statements for 2023 at https://www.federalreserve.gov/aboutthefed/files/minneapolisfinstmt2023.pdf.

Class A

Gerald H. Jacobson, 2023
President, Northwestern Bank, Chippewa Falls, WI

Jeanne H. Crain, 2024
President and Chief Executive Officer, Bremer Financial Corporation, St. Paul, MN

Brenda K. Foster, 2025
Chairman, President, and Chief Executive Officer, First Western Bank and Trust, Minot, ND

Class B

Chelsie Glaubitz Gabiou, 2023
President, Minneapolis Regional Labor Federation, AFL-CIO, Minneapolis, MN

Sarah Walsh, 2024
Chief Executive Officer, MMA Northwest, Marsh McLennan Agency, Helena, MT

Lakota Vogel, 2025
Executive Director, Four Bands Community Fund, Eagle Butte, SD

Class C

Srilata Zaheer, 2023
Professor and Dean Emerita, Carlson School of Management, University of Minnesota, Minneapolis, MN

Paul D. Williams, 2024
President and Chief Executive Officer, Project for Pride in Living, Minneapolis, MN

Chris Hilger, 2025
Chairman, President, and Chief Executive Officer, Securian Financial, St. Paul, MN

Helena Branch

Appointed by the Federal Reserve Bank

William E. Coffee, 2023
Chief Executive Officer and Chairman of the Board, Stockman Financial Corporation, Billings, MT

Jason Adams, 2024
Owner and Consultant, Ace Housing and Development, LLC, Polson, MT

Mary Rutherford, 2025
President and Chief Executive Officer, Montana Community Foundation, Helena, MT

Appointed by the Board of Governors

Alan D. Ekblad, 2023
Senior and Managing Partner, Strategic Labor Partnerships, Helena, MT

Bobbi Wolstein, 2024
Chief Financial Officer, LHC, Inc., Kalispell, MT

 

District 10–Kansas City

Covers the states of Colorado, Kansas, Nebraska, Oklahoma, and Wyoming; 43 counties in western Missouri; and 14 counties in northern New Mexico.

For more information on this District and to learn more about the Federal Reserve Bank of Kansas City's operations, visit https://www.kansascityfed.org/. Information on economic conditions for this District can be found in the Federal Reserve System's Beige Book at https://www.federalreserve.gov/monetarypolicy/beige-book-default.htm. Also find the Reserve Bank's financial statements for 2023 at https://www.federalreserve.gov/aboutthefed/files/kansascityfinstmt2023.pdf.

Class A

Patricia J. Minard, 2023
Executive Vice President and Chief Financial Officer, Emprise Bank, Wichita, KS

Kyle Heckman, 2024
Chairman and Chief Executive Officer, Flatirons Bank, Boulder, CO

Alex Williams, 2025
Chairman, Chief Executive Officer, and President, Halstead Bank, Halstead, KS

Class B

Ruben Alonso III, 2023
Chief Executive Officer, AltCap, Kansas City, MO

Ramin Cherafat, 2024
Chief Executive Officer, McCownGordon Construction, Kansas City, MO

Paul Maass, 2025
Chief Executive Officer, Scoular, Omaha, NE

Class C

María Griego-Raby, 2023
President and Principal, Contract Associates, Albuquerque, NM

Jandel Allen-Davis, MD, 2024
President and Chief Executive Officer, Craig Hospital, Englewood, CO

Patrick A. Dujakovich, 2025
President, Greater Kansas City AFL-CIO, Kansas City, MO

Denver Branch

Appointed by the Federal Reserve Bank

Rachel Gerlach, 2023
Chief Credit Officer, Alpine Bank, Glenwood Springs, CO

Nicole Glaros, 2024
Founder and Chief Executive Officer, Phos, Boulder, CO

Chris Wright, 2024
Chief Executive Officer, Liberty Energy, Denver, CO

John J. Coyne III, 2025
Chairman, Chief Executive Officer, and President, Big Horn Federal Savings Bank, Greybull, WY

Appointed by the Board of Governors

Navin Dimond, 2023
Founder and Chief Executive Officer, Stonebridge Companies, Denver, CO

Janice J. Lucero, 2024
President and Chief Executive Officer, Motor Vehicle Division Express, Albuquerque, NM

Del Esparza, 2025
Chief Executive Officer, Esparza Digital & Advertising, Albuquerque, NM

Oklahoma City Branch

Appointed by the Federal Reserve Bank

Brady Sidwell, 2023
Owner and Principal, Sidwell Strategies, LLC, Enid, OK

J. Walter Duncan IV, 2024
President, Duncan Oil Properties, Inc., Oklahoma City, OK

Mark Burrage, 2025
Chief Executive Officer, FirstBank, Atoka, OK

Terry Salmon, 2025
President, Computer System Designers, Oklahoma City, OK

Appointed by the Board of Governors

Katrina Washington, 2023
Executive Director, Neighborhood Housing Services, and Owner, Stratos Realty Group, Oklahoma City, OK

Rhonda Hooper, 2024
President and Chief Executive Officer, Jordan Advertising, Oklahoma City, OK

Dana S. Weber, 2025
Chief Executive Officer and Chairman of the Board, Webco Industries, Inc., Sand Springs, OK

Omaha Branch

Appointed by the Federal Reserve Bank

Dwayne W. Sieck, 2023
Managing Principal, Farnam Street Real Estate Capital, Omaha, NE

Zac Karpf, 2024
President, Platte Valley Bank, Scottsbluff, NE

Susan L. Martin, 2024
President and Secretary-Treasurer, Nebraska State AFL-CIO, Lincoln, NE

Clark Lauritzen, 2025
Chairman and President, First National Bank of Omaha, Omaha, NE

Appointed by the Board of Governors

Carmen Tapio, 2023
Owner, President, and Chief Executive Officer, North End Teleservices, LLC, Omaha, NE

Joanne Li, 2024
Chancellor, University of Nebraska at Omaha, Omaha, NE

L. Javier Fernandez, 2025
President and Chief Executive Officer, Omaha Public Power District, Omaha, NE

 

District 11–Dallas

Covers the state of Texas, 26 parishes in northern Louisiana, and 18 counties in southern New Mexico.

For more information on this District and to learn more about the Federal Reserve Bank of Dallas's operations, visit https://www.dallasfed.org. Information on economic conditions for this District can be found in the Federal Reserve System's Beige Book at https://www.federalreserve.gov/monetarypolicy/beige-book-default.htm. Also find the Reserve Bank's financial statements for 2023 at https://www.federalreserve.gov/aboutthefed/files/dallasfinstmt2023.pdf.

Class A

Robert A. Hulsey, 2023
President and Chief Executive Officer, American National Bank of Texas, Terrell, TX

Kelly A. Barclay, 2024
President and Chief Executive Officer, Ozona Bank, Wimberly, TX

Joe Quiroga, 2025
President, Texas National Bank, Edinburg, TX

Class B

Gerald B. Smith, 2023
Chairman and Chief Executive Officer, Smith, Graham & Company Investment Advisors, L.P., Houston, TX

Renard U. Johnson, 2024
President and Chief Executive Officer, Management & Engineering Technologies International, Inc., El Paso, TX

Cynthia Taylor, 2025
President and Chief Executive Officer, Oil States International Inc., Houston, TX

Class C

Claudia Aguirre, 2023
President and Chief Executive Officer, BakerRipley, Houston, TX

Vacancy, 2024

Thomas J. Falk, 2025
Retired Chairman and Chief Executive Officer, Kimberly-Clark Corporation, Dallas, TX

El Paso Branch

Appointed by the Federal Reserve Bank

Jill Gutierrez, 2023
Director, Bank 34, Alamogordo, NM

Jack Harper, 2023
Partner, HEDLOC Investment Company, LP, Midland, TX

William Serrata, 2024
President, El Paso Community College, El Paso, TX

Kari Mitchell, 2025
Chief Executive Officer, Las Cruces Machine Mfg. & Engineering, Inc., Mesilla Park, NM

Appointed by the Board of Governors

Sally A. Hurt-Deitch, 2023
Senior Vice President of Operations, Ascension, El Paso, TX

Tracy J. Yellen, 2024
Chief Executive Officer, Paso del Norte Community Foundation, El Paso, TX

Von C. Washington Sr., 2025
President, IDA Technology, El Paso, TX

Houston Branch

Appointed by the Federal Reserve Bank

Gina Luna, 2023
Managing Partner, Genesis Park, Houston, TX

Bhavesh V. Patel, 2023
President, Standard Industries, Houston, TX

Peter Rodriguez, 2024
Dean and Professor of Strategic Management, Rice University, Houston, TX

Gary R. Petersen, 2025
Managing Partner and Founder, EnCap Investments L.P., Houston, TX

Appointed by the Board of Governors

Ruth J. Simmons, 2023
President, Prairie View A&M University, Prairie View, TX

Cynthia N. Colbert, 2024
President and Chief Executive Officer, Catholic Charities Archdiocese of Galveston-Houston, Houston, TX

Ric Campo, 2025
Chairman and Chief Executive Officer, Camden Property Trust, Houston, TX

San Antonio Branch

Appointed by the Federal Reserve Bank

Bradley Barron, 2023
President and Chief Executive Officer, NuStar Energy, San Antonio, TX

Tyson Tuttle, 2023
President and Chief Executive Officer, Silicon Labs, Austin, TX

Gabriel Guerra, 2024
President and Chief Executive Officer, Kleberg Bank, Kingsville, TX

Denise Rodriguez Hernandez, 2025
Owner and Chief Executive Officer, The Eatery Culinary Group, San Antonio, TX

Appointed by the Board of Governors

Veronica Muzquiz Edwards, 2023
Chief Executive Officer, InGenesis, Inc., San Antonio, TX

Monica Salinas, 2024
Chief Executive Officer, Operations, Cromex Forwarding Inc., Laredo, TX

Rosa Santana, 2025
Founder and Chief Executive Officer, Santana Group, San Antonio, TX

 

District 12–San Francisco

Covers the states of Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington, and serves American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands.

For more information on this District and to learn more about the Federal Reserve Bank of San Francisco's operations, visit http://www.frbsf.org/. Information on economic conditions for this District can be found in the Federal Reserve System's Beige Book at https://www.federalreserve.gov/monetarypolicy/beige-book-default.htm. Also find the Reserve Bank's financial statements for 2023 at https://www.federalreserve.gov/aboutthefed/files/sanfranciscofinstmt2023.pdf.

Class A

S. Randolph Compton, 2023
Co-Chair of the Board, Pioneer Trust Bank, N.A., Salem, OR

Vacancy, 2024

Simone Lagomarsino, 2025
President and Chief Executive Officer, Luther Burbank Savings and Luther Burbank Corporation, Gardena, CA

Class B

Karen Lee, 2023
Chief Executive Officer, Plymouth Housing, Seattle, WA

Arthur F. Oppenheimer, 2024
Chairman and Chief Executive Officer, Oppenheimer Companies, Inc., and President, Oppenheimer Development Corporation, Boise, ID

Vacancy, 2025

Class C

Tamara L. Lundgren, 2023
Chairman, President, and Chief Executive Officer, Radius Recycling, Portland, OR

David P. White, 2024
Immediate Past Chief Executive Officer and Chief Negotiator, and Current Strategic Advisor, SAG-AFTRA, and Current Venture Partner, Ulu Ventures, Los Angeles, CA

Mario Cordero, 2025
Executive Director, Port of Long Beach, Long Beach, CA

Los Angeles Branch

Appointed by the Federal Reserve Bank

Theresa Benelli, 2023
Executive Director, LISC Phoenix, Phoenix, AZ

Jimmy Ayala, 2024
Chief Operating Officer, Chelsea Investment Corporation, Carlsbad, CA

Zach Moon, 2024
General Manager, California Steel Industries, Inc., Fontana, CA

Chang M. Liu, 2025
President and Chief Executive Officer, Cathay Bank, Los Angeles, CA

Appointed by the Board of Governors

Maritza Diaz, 2023
Chief Executive Officer, iTjuana, San Marcos, CA

Jack L. Sinclair, 2024
Chief Executive Officer, Sprouts Farmers Market, Phoenix, AZ

Rosemary Vassiliadis, 2025
Director of Aviation, Harry Reid International Airport, Las Vegas, NV

Portland Branch

Appointed by the Federal Reserve Bank

Alicia Chapman, 2023
Owner and Chief Executive Officer, Willamette Technical Fabricators, Portland, OR

Andrew Colas, 2023
President, Colas Construction, Inc., Portland, OR

Stacey M. L. Dodson, 2024
Market President, Portland and Southwest Washington, U.S. Bank, Portland, OR

Maria Pope, 2025
President and Chief Executive Officer, Portland General Electric Company, Portland, OR

Appointed by the Board of Governors

Graciela Gomez-Cowger, 2023
Chief Executive Officer, Schwabe, Williamson & Wyatt, Portland, OR

Gale Castillo, 2024
President, Canopy, Portland, OR

Cheryl R. Nester Wolfe, 2025
President and Chief Executive Officer, Salem Health Hospital and Clinics, Salem, OR

Salt Lake City Branch

Appointed by the Federal Reserve Bank

Russell A. Childs, 2023
Chief Executive Officer and President, SkyWest, Inc., St. George, UT

Mark Packard, 2023
President and Chief Executive Officer, Central Bank, Provo, UT

Lisa Ann Grow, 2024
President and Chief Executive Officer, IdaCorp & Idaho Power, Boise, ID

Joze Enriquez, 2025
Founder and Chief Executive Officer, Latinos In Action, Sandy, UT

Appointed by the Board of Governors

Susan D. Morris, 2023
Executive Vice President and Chief Operations Officer, Albertsons Companies, Boise, ID

O. Randall Woodbury, 2024
President and Chief Executive Officer, Woodbury Corporation, Salt Lake City, UT

Deneece Huftalin, 2025
President, Salt Lake City Community College, Taylorsville, UT

Seattle Branch

Appointed by the Federal Reserve Bank

Carol Gore, 2023
President and Chief Executive Officer, Cook Inlet Housing Authority, Anchorage, AK

Laura Lee Stewart, 2023
President and Chief Executive Officer, Sound Community Bank and Sound Financial Bancorporation, Seattle, WA

Michael S. Senske, 2024
President and Chief Executive Officer, Pearson Packaging Systems, Spokane, WA

Robert C. Donegan, 2025
President, Ivar's Inc., Seattle, WA

Appointed by the Board of Governors

John Wolfe, 2023
Chief Executive Officer, Northwest Seaport Alliance, Tacoma, WA

Pallavi Mehta Wahi, 2024
Seattle Managing Partner and Co-United States Managing Partner, K&L Gates LLP, Seattle, WA

Sheila Edwards Lange, 2025
Chancellor, University of Washington, Tacoma, WA

 

Reserve Bank and Branch Leadership

Each year, the Board of Governors designates one Class C director to serve as chair and one Class C director to serve as deputy chair of each Reserve Bank board. Reserve Banks also have a president and first vice president who are appointed by the Bank's Class C (and certain Class B) directors, subject to approval by the Board of Governors. Each Reserve Bank selects a chair for every Branch in its District from among the directors on the Branch board who were appointed by the Board of Governors. For each Branch, an officer from its Reserve Bank is also charged with the oversight of Branch operations.

Boston

Corey Thomas, Chair

Roger W. Crandall, Deputy Chair

Susan M. Collins, President and Chief Executive Officer

Kenneth C. Montgomery, First Vice President and Chief Operating Officer

New York

Vincent Alvarez, Chair

Rosa M. Gil, Deputy Chair

John C. Williams, President and Chief Executive Officer

Sushmita Shukla, First Vice President and Chief Operating Officer

Additional office at East Rutherford, NJ

Philadelphia

Anthony Ibarguen, Chair

Sharmain Matlock-Turner, Deputy Chair

Patrick T. Harker, President and Chief Executive Officer

Jeanne R. Rentezelas, First Vice President and Chief Operating Officer

Cleveland

Doris Carson Williams, Chair

Heidi L. Gartland, Deputy Chair

Loretta J. Mester, President and Chief Executive Officer

Mark S. Meder, First Vice President and Chief Operating Officer

Cincinnati

Rachid Abdallah, Chair

Julianne Dunn, Vice President and Senior Regional Officer

Pittsburgh

Vera Krekanova, Chair

Russell Mills, Vice President and Senior Regional Officer

Richmond

Jodie McLean, Chair

Lisa M. Hamilton, Deputy Chair

Thomas I. Barkin, President and Chief Executive Officer

Becky Bareford, First Vice President and Chief Operating Officer

Baltimore

William J. McCarthy, Chair

Andy Bauer, Vice President and Baltimore Regional Executive

Charlotte

Bernett William Mazyck, Chair

Matthew A. Martin, Vice President and Charlotte Regional Executive

Atlanta

Claire Lewis Arnold, Chair

Gregory A. Haile, Deputy Chair

Raphael W. Bostic, President and Chief Executive Officer

André Anderson, First Vice President and Chief Operating Officer

Birmingham

Christy Thomas, Chair

Anoop Mishra, Vice President and Regional Executive

Jacksonville

Edward A. Moratin, Chair

Michelle Dennard, Vice President and Regional Executive

Miami

Keith T. Koenig, Chair

Shari Bower, Vice President and Regional Executive

Nashville

Thomas Zacharia, Chair

Laurel Graefe, Vice President and Regional Executive

New Orleans

Michael E. Hicks Jr., Chair

Adrienne C. Slack, Vice President and Regional Executive

Chicago

Jennifer Scanlon, Chair

Juan Salgado, Deputy Chair

Austan Goolsbee, President and Chief Executive Officer

Ellen Bromagen, First Vice President and Chief Operating Officer

Additional office at Des Moines, IA

Detroit

Sandy K. Baruah, Chair

Rick Mattoon, Vice President of Regional Analysis and Engagement, Detroit Regional Executive

St. Louis

James M. McKelvey Jr., Chair

Carolyn Chism Hardy, Deputy Chair

Kathleen O'Neill, Interim President and Chief Executive Officer; First Vice President and Chief Operating Officer

Little Rock

Vickie D. Judy, Chair

Matuschka Lindo Briggs, Senior Vice President and Regional Executive

Louisville

Emerson M. Goodwin, Chair

Seema Sheth, Senior Vice President and Regional Executive

Memphis

Beverly Crossen, Chair

Douglas G. Scarboro, Senior Vice President and Regional Executive

Minneapolis

Srilata Zaheer, Chair

Chris Hilger, Deputy Chair

Neel Kashkari, President and Chief Executive Officer

Ron J. Feldman, First Vice President

Helena

Alan D. Ekblad, Chair

Kansas City

Patrick A. Dujakovich, Chair

María Griego-Raby, Deputy Chair

Jeffrey Schmid, President and Chief Executive Officer

Kelly J. Dubbert, First Vice President and Chief Operating Officer

Denver

Navin Dimond, Chair

Nicholas Sly, Assistant Vice President and Branch Executive

Oklahoma City

Katrina Washington, Chair

Chad R. Wilkerson, Senior Vice President and Branch Executive

Omaha

L. Javier Fernandez, Chair

Nathan Kauffman, Senior Vice President and Branch Executive

Dallas

Thomas J. Falk, Chair

Claudia Aguirre, Deputy Chair

Lorie K. Logan, President and Chief Executive Officer

Robert L. Triplett, III, First Vice President and Chief Operating Officer

El Paso

Sally A. Hurt-Deitch, Chair

Roberto A. Coronado, Senior Vice President in Charge

Houston

Ruth J. Simmons, Chair

Daron D. Peschel, Senior Vice President in Charge

San Antonio

Veronica Muzquiz Edwards, Chair

Roberto A. Coronado, Senior Vice President in Charge

San Francisco

Tamara L. Lundgren, Chair

David P. White, Deputy Chair

Mary C. Daly, President and Chief Executive Officer

Sarah Devany, First Vice President and Chief Operating Officer

Additional office at Phoenix, AZ

Los Angeles

Jack L. Sinclair, Chair

Qiana Charles, Vice President and Regional Executive

Portland

Cheryl R. Nester Wolfe, Chair

Ian Galloway, Vice President and Regional Executive

Salt Lake City

O. Randall Woodbury, Chair

Becky B. Potts, Vice President and Regional Executive

Seattle

Sheila Edwards Lange, Chair

Christina Prkic, Vice President and Regional Executive

Leadership Conferences

Conference of Chairs

The chairs of the Federal Reserve Banks are organized into the Conference of Chairs, which meets to consider matters of common interest and to consult with and advise the Board of Governors. Such meetings, also attended by the deputy chairs, were held in Washington, D.C., on May 16 and 17, 2023, and November 28 and 29, 2023. The conference's executive committee members for 2023 are listed below.¹

Conference of Chairs Executive Committee—2023

Tamara L. Lundgren, Chair, Federal Reserve Bank of San Francisco

Corey Thomas, Vice Chair, Federal Reserve Bank of Boston

Patrick A. Dujakovich, Member, Federal Reserve Bank of Kansas City

Conference of Presidents

The presidents of the Federal Reserve Banks are organized into the Conference of Presidents, which meets periodically to identify, define, and deliberate issues of strategic significance to the Federal Reserve System; to consider matters of common interest; and to consult with and advise the Board of Governors. The chief executive officer of each Reserve Bank was originally labeled governor and did not receive the title of president until the passage of the Banking Act of 1935. Consequently, when the Conference was first established in 1914 it was known as the Conference of Governors. Conference officers for 2023 are listed below.

Conference of Presidents—2023

John C. Williams, Chair, Federal Reserve Bank of New York

Neel Kashkari, Vice Chair, Federal Reserve Bank of Minneapolis

Heidy Medina, Secretary, Federal Reserve Bank of New York

Karmi Mattson, Assistant Secretary, Federal Reserve Bank of Minneapolis

Conference of First Vice Presidents

The Conference of First Vice Presidents of the Federal Reserve Banks was organized in 1969 to meet periodically for the consideration of operations and other matters. Conference officers for 2023 are listed below.²

Conference of First Vice Presidents—2023

Ron Feldman, Chair, Federal Reserve Bank of Minneapolis

Becky Bareford, Vice Chair, Federal Reserve Bank of Richmond

Jamica Quillin, Secretary, Federal Reserve Bank of Minneapolis

Nina Mantilla, Assistant Secretary, Federal Reserve Bank of Richmond

Footnotes