Cleveland Fed Announces Director Appointments

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, 2004

Federal Reserve Bank of Cleveland

Robert W. Mahoney, retired chairman and chief executive officer of Diebold, Incorporated, Canton, Ohio, has been reappointed as a director, and as chairman of the board of directors, of theFederal Reserve Bank of Cleveland.

Charles E. Bunch, president and chief operating officer of PPG Industries, Inc., Pittsburgh, Pennsylvania, was reappointed deputy chairman of the board.

In addition, V. Ann Hailey, executive vice president and chief financial officer, Limited Brands, Columbus, Ohio, was elected a director, and Stephen P. Wilson, president andchief executive officer, Lebanon Citizens National Bank, Lebanon, Ohio, was reelected a director of the Cleveland Reserve Bank.

Cincinnati Office

Dennis C. Cuneo, senior vice president, Toyota Motor North America, Inc., New York, New York, has been reappointed chairman of the board of directors of the Cincinnati Office of the FederalReserve Bank of Cleveland.

In addition, Charlotte W. Martin, president and chief executive officer, Great Lakes Bankers Bank, Gahanna, Ohio, and Charles Whitehead, retired president, Ashland Inc.Foundation, Covington, Kentucky, were reappointed directors.

Pittsburgh Office

Roy W. Haley, chairman and chief executive officer, WESCO International, Inc., Pittsburgh, Pennsylvania, has been reappointed chairman of the board of directors of the Pittsburgh Office of theFederal Reserve Bank of Cleveland.

In addition, James I. Mitnick, senior vice president, Turner Construction Company, Pittsburgh, Pennsylvania, and Kristine N. Molnar, president and chief executive officer,WesBanco Bank, Inc., Wheeling, West Virginia, were reappointed directors.

Federal Advisory Council

Martin G. McGuinn, chairman and chief executive officer of Mellon Financial Corporation, Pittsburgh, Pennsylvania, will represent the Fourth Federal Reserve District on the Federal AdvisoryCouncil for a second one-year term, which began on January 1, 2004.

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 FederalReserve System on general business conditions and issues related to the financial services industry.

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that along with the Board of Governors in Washington DC comprise the Federal Reserve System. Part of the US central bank, the Cleveland Fed participates in the formulation of our nation’s monetary policy, supervises banking organizations, provides payment and other services to financial institutions and to the US Treasury, and performs many activities that support Federal Reserve operations System-wide. In addition, the Bank supports the well-being of communities across the Fourth Federal Reserve District through a wide array of research, outreach, and educational activities.

The Cleveland Fed, with branches in Cincinnati and Pittsburgh, serves an area that comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.

Media contact

Doug Campbell, doug.campbell@clev.frb.org, 513.455.4479