Cleveland Fed Announces Appointments to Cleveland, Cincinnati, and Pittsburgh Boards and to the Federal Advisory Council

CLEVELAND - The Federal Reserve Bank of Cleveland announced the following appointments to its main office and branch boards of directors and to the Federal Advisory Council. All appointments were effective January 1, 2009.

Federal Reserve Bank of Cleveland

(Ms.) Tanny B. Crane, president and chief executive officer of Crane Group Co., Columbus, Ohio, was reappointed chairwoman of the board of directors of the Federal Reserve Bank of Cleveland for 2009. Crane has served as chairwoman of the Cleveland Reserve Bank since 2007 and has served as a Bank director since 2003.

Alfred M. Rankin, Jr., chairman, president and chief executive officer of NACCO Industries, Inc., Cleveland, Ohio, was reappointed deputy chairman of the board for 2009 and has been reappointed for a second term as a director. Rankin has served as deputy chairman since 2007 and as a director of the Bank since 2006.

In addition, Tilmon F. “Tim” Brown, president and chief executive officer, New Horizons Baking Company, in Norwalk, Ohio, and Charlotte W. Martin, president and chief executive officer, Great Lakes Bankers Bank, in Gahanna, Ohio, were elected directors. Martin previously served as a director of the Reserve Bank’s Cincinnati Branch from 2003 to 2008.

Cincinnati Branch

James M. Anderson, president and chief executive officer of the Cincinnati Children's Hospital Medical Center, Cincinnati, Ohio, was reappointed chairman of the board of the Cincinnati Branch of the Federal Reserve Bank of Cleveland for 2009 and was also reappointed as a director. Anderson has served as a director and chairman of the Cincinnati Branch since 2005.

Donald E. Bloomer, president and chief executive officer, Citizens National Bank, Somerset, Kentucky, and Gregory B. Kenny, president and chief executive officer, General Cable Corporation, in Highland Heights, Kentucky, were appointed directors of the Cincinnati Branch of the Federal Reserve Bank of Cleveland.

Janet B. Reid, Ph.D., principal partner, Global Lead Management Consulting, Cincinnati, Ohio, was reappointed a director of the Cincinnati Branch of the Cleveland Reserve Bank.

Pittsburgh Branch

Sunil T. Wadhwani, co-chairman, iGATE Corporation, Pittsburgh, Pennsylvania, was reappointed chairman of the board of the Pittsburgh Branch of the Federal Reserve Bank of Cleveland for 2009 and was also reappointed as a director. He has served as a director of the Pittsburgh Branch since 2006 and as chairman since 2008.

Petra Mitchell, president, Catalyst Connection, Pittsburgh Pennsylvania, was appointed a director of the Pittsburgh Branch of the Federal Reserve Bank of Cleveland.

Howard W. “Hoddy” Hanna III, chairman and chief executive officer, Howard Hanna Real Estate Services Inc., Pittsburgh, Pennsylvania, was reappointed a director of the Pittsburgh Branch of the Cleveland Reserve Bank.

Federal Advisory Council

Henry L. Meyer III, chairman and chief executive officer of KeyCorp, Cleveland, Ohio, was reappointed to a one-year term as the Fourth Federal Reserve District's representative on the Federal Advisory Council.

The Federal Advisory Council is composed of representatives of the banking industry from each of the 12 Federal Reserve Districts. The Council consults with and advises the Board of Governors of the Federal Reserve System on general business conditions and issues related to the financial services industry.

The Federal Reserve System

The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates U.S. monetary policy, supervises banks and bank holding companies, and provides payment services to financial institutions and to the U.S. government. Payment services include check clearing, electronic payments, and the distribution of currency and coin.

Reserve Bank Directors

Each Reserve Bank's main office has a nine-member board of directors. Three directors represent the interests of banking in each District and are elected by banks that are members of the Federal Reserve System. The other six directors represent the general public, which includes business, agriculture, labor and consumers. Of these, three are elected by member banks and three are appointed by the Federal Reserve's Board of Governors in Washington, D.C.

Directors' responsibilities include making recommendations to the Board of Governors regarding the Federal Reserve's discount rate on primary credit; providing information about regional business conditions to their Reserve Bank president; selecting the Reserve Bank's president and chief operating officer; and overseeing the Bank's budget and finances. Each Reserve Bank branch has a five- or seven-member board of directors that oversees branch operations and provides input regarding local business conditions. For a complete list of the members of the boards of directors of the Federal Reserve Bank of Cleveland and its branches, see the Board of Directors page on the website. 


Fourth Federal Reserve District

The Federal Reserve Bank of Cleveland, with branches in Cincinnati and Pittsburgh, serves the Fourth Federal Reserve District, which includes Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.