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

The Federal Reserve Bank of Cleveland announced the following appointments and elections to its main office and branch boards of directors and to the Federal Advisory Council effective January 1, 2017.

Federal Reserve Bank of Cleveland

John P. Surma, retired chairman and chief executive officer, United States Steel Corporation, Pittsburgh, Pennsylvania, was appointed chairman of the board for 2017. Surma served as deputy chairman in 2015 and 2016, and he has served as a director since 2013.

Dawne S. Hickton, president and founding partner, Cumberland Highstreet Partners, Pittsburgh, Pennsylvania, was appointed deputy chairman of the board for 2017. Hickton has served as a director of the Cleveland board since 2016. Hickton also served as a director of the Federal Reserve Bank of Cleveland, Pittsburgh Branch, from 2013 to 2015, and she was chairman of the branch board in 2014 and 2015.

David Megenhardt, executive director, United Labor Agency, Cleveland, Ohio, was elected as a director.

Dwight E. Smith, president and chief executive officer, Sophisticated Systems, Inc., Columbus, Ohio, was appointed as a director. Smith also served as a director of the Federal Reserve Bank of Cleveland, Cincinnati Branch, from 2015 to 2016.

Stephen D. Steinour, chairman, president and chief executive officer of Huntington Bancshares Incorporated, Columbus, Ohio, was elected as a director.

(Find other Cleveland board members here.)

Cincinnati Branch, Federal Reserve Bank of Cleveland

Valarie L. Sheppard, senior vice president, comptroller and treasurer, The Procter & Gamble Company, Cincinnati, Ohio, was reappointed chairman of the board of the Federal Reserve Bank of Cleveland, Cincinnati Branch, for 2017. Sheppard has served as a director of the branch board since 2014 and as chairman since 2015.

Alfonso Cornejo, president, Hispanic Chamber Cincinnati USA, Cincinnati, Ohio, was appointed as a director.

Darin C. Hall, executive vice president, Port of Greater Cincinnati Development Authority, Cincinnati, Ohio, was appointed as a director.

(Find other Cincinnati Branch board members here.)

Pittsburgh Branch, Federal Reserve Bank of Cleveland

Doris Carson Williams, president and chief executive officer, African American Chamber of Commerce of Western Pennsylvania, Pittsburgh, Pennsylvania, was reappointed chairman of the board of the Federal Reserve Bank of Cleveland, Pittsburgh Branch, for 2017. She has been a director of the branch board since 2014 and chairman since 2016.

Shelley L. Fant, president and chief executive officer, FCG Solutions, Inc., Pittsburgh, Pennsylvania, was appointed as a director.

(Find other Pittsburgh Branch board members here.)

Federal Advisory Council

Beth E. Mooney, chairman and chief executive officer, KeyCorp, Cleveland, Ohio, was appointed to a one-year term as the Fourth Federal Reserve District's representative on the Federal Advisory Council. Mooney served as a director of the Federal Reserve Bank of Cleveland in 2016.

The Federal Advisory Council comprises 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.

Reserve Bank Directors

Each Reserve Bank's main office has a nine-member board of directors. Three directors are elected by and representative of the member banks in each Federal Reserve District. The other six directors represent the general public, with due, but not exclusive, consideration to the interests of agriculture, commerce, industry, services, labor, and consumers. Of the six, three are elected by member banks, and three are appointed by the Federal Reserve's Board of Governors in Washington DC.

Main office 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; and overseeing the Bank's budget and finances.

Each Reserve Bank branch has a five- or seven-member board of directors whose members provide input regarding local business conditions and their respective industries. They also help to identify opportunities that connect the Federal Reserve to the general public.

Find additional information about the members of the boards of directors of the Federal Reserve Bank of Cleveland and its branches here.

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, 513.218.1892