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Press Release

Federal Reserve Bank of Cleveland Announces Officer Appointments

Bruce Fallick has been appointed vice president – regional/applied microeconomics in the Research Department, effective June 1, 2014. Fallick will assist in developing regional, micro-, and labor economic research, and he will advise Bank management on issues within those fields. He will also be a contributor to monetary policy and write for Bank publications.

Fallick joined the Federal Reserve Board’s Division of Research and Statistics in 1993 and has served as a senior economist since 2001. He also recently served as a visiting professor of economics at Oberlin College. Prior to joining the Federal Reserve, he was an assistant professor of economics at the University of California, Los Angeles (UCLA).

Fallick has a PhD in economics from the University of Pennsylvania and a bachelor’s degree in philosophy and economics from the University of Pittsburgh.

Mary (Meg) Johnson has been appointed vice president – business process support for the SCS Administration. Johnson will be responsible for oversight of career development, business technology services, strategic planning, performance management, resource allocation, quality assurance, and administrative support for the Supervision and Regulation, Credit Risk Management, and Statistics and Analysis Departments (SCS). She will join the Cleveland Fed on August 1, 2014.

Johnson has more than 18 years of experience in banking supervision and corporate planning at the Federal Reserve Banks of Richmond and Cleveland. She is currently vice president of corporate planning at the Richmond Fed and manages the Bank’s enterprise risk management, strategic planning and business process consulting activities. She also worked at the Federal Reserve Board from 2010-2012, where she served as the chief administrative and operations officer for Federal Reserve System groups responsible for supervisory programs at the largest and most systemically important banking organizations in the U.S. Johnson also served as a manager in community bank supervision and consumer affairs at the Cleveland Fed.

Johnson holds a doctor of education degree in organizational leadership from the Nova Southeastern University in Florida, an MBA from Cleveland State University, and a bachelor of arts degree in business and French from Bowling Green State University.

Gary Szelagowski has been appointed assistant vice president – talent management in the Human Resources Department, effective June 9, 2014. He will lead the development and execution of enterprise-wide succession planning, performance management, talent development, change management, and employee engagement.

Szelagowski has more than 15 years of Human Resources experience at senior levels with National City Corporation and PNC Financial Services.  His experience also includes work in technology and sales management with KeyBank, as well as with other organizations. He most recently served as vice president, performance management, for PNC.

Szelagowski holds a bachelor of science degree in business administration from John Carroll University.

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,, 513.455.4479