Dudley Named President New York Fed

As expected, William Dudley was named NY Fed Prez, and others were also named to key posts:

William C. Dudley was named today to serve as President and Chief Executive Officer of the Federal Reserve Bank of New York. His appointment by the Board of Directors of the New York Fed, succeeding Timothy F. Geithner who was sworn in as Secretary of the Treasury yesterday, was approved by the Federal Reserve Board of Governors.

Stephen Friedman, chairman of the New York Fed’s Board of Directors and of the search committee that selected Mr. Dudley, said, “We were fortunate to have an exceptional slate of candidates for the post. The board is very pleased with the selection of Bill Dudley. His deep economics background, extensive working knowledge of the markets and hands-on policy making role make him an outstanding choice to succeed Tim Geithner.”


Other Federal Reserve Board appointments at the twelve Federal Reserve Banks for 2009:

Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington appoints three of these directors and each year designates one of its appointees as chair and a second as deputy chair.

Following are the names of the chairs and deputy chairs appointed by the Board for 2009:

Lisa M. Lynch, Dean and Professor of Economics, The Heller School for Social Policy and Management, Brandeis University, Waltham, Massachusetts, renamed Chair.

Henri A. Termeer, Chairman, President and Chief Executive Officer, Genzyme Corporation, Cambridge, Massachusetts, renamed Deputy Chair.

New York
Stephen Friedman, Chairman, Stone Point Capital, LLC, New York, New York, renamed Chair.

Denis M. Hughes, President, New York State AFL-CIO, New York, New York, renamed Deputy Chair.

William F. Hecht, Retired Chairman, President and Chief Executive Officer, PPL Corporation, Allentown, Pennsylvania, renamed Chair.

Charles P. Pizzi, President and Chief Executive Officer, Tasty Baking Company, Philadelphia, Pennsylvania, renamed Deputy Chair.

Tanny B. Crane, President and Chief Executive Officer, Crane Group Company, Columbus, Ohio, renamed Chair.

Alfred M. Rankin, Jr., Chairman, President and Chief Executive Officer, NACCO Industries, Inc., Cleveland, Ohio, renamed Deputy Chair.

Lemuel E. Lewis, President, LocalWeather.com, Suffolk, Virginia, named Chair.

Margaret E. McDermid, Senior Vice President and Chief Information Officer, Dominion Resources, Inc., Richmond, Virginia, named Deputy Chair.

D. Scott Davis, Chairman and Chief Executive Officer, United Parcel Service, Atlanta, Georgia, named Chair.

Carol B. Tomé, Chief Financial Officer and Executive Vice President, The Home Depot, Atlanta, Georgia, named Deputy Chair.

John A. Canning, Jr., Chairman, Madison Dearborn Partners, LLC, Chicago, Illinois, renamed Chair.

William C. Foote, Chairman and Chief Executive Officer, USG Corporation, Chicago, Illinois, renamed Deputy Chair.

St. Louis
Steven H. Lipstein, President and Chief Executive Officer, BJC HealthCare, St. Louis, Missouri, named Chair.

Ward M. Klein, Chief Executive Officer, Energizer Holdings, Inc., Town & Country, Missouri, named Deputy Chair.

James J. Hynes, Executive Administrator, Twin City Pipe Trades Service Association, St. Paul, Minnesota, renamed Chair.

John W. Marvin, Chairman and Chief Executive Officer, Marvin Windows and Doors, Warroad, Minnesota, renamed Deputy Chair.

Kansas City
Lu M. Cordova, Chief Executive Officer, Corlund Industries, LLC and President & General Manager, Almacen Storage Group, Boulder, Colorado, renamed Chair.

Paul DeBruce, Chief Executive Officer and Chairman/Founder, DeBruce Grain, Inc., Kansas City, Missouri, renamed Deputy Chair.

James T. Hackett, Chairman, President and Chief Executive Officer, Anadarko Petroleum Corporation, Houston, Texas, renamed Chair.

Herb Kelleher, Founder and Chairman Emeritus, Southwest Airlines, Dallas, Texas, renamed Deputy Chair.

San Francisco
T. Gary Rogers, Chairman of the Board, Levi Strauss & Co., San Francisco, California, named Chair.

Douglas W. Shorenstein, Chairman and Chief Executive Officer, Shorenstein Properties LLC, San Francisco, California, named Deputy Chair.

New York Fed Names William C. Dudley President
January 27, 2009

Board announces appointment of the chairs and deputy chairs of the twelve Federal Reserve Banks for 2009
January 27, 2009

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