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Press Release

Cleveland Fed Announces Executive Vice Presidents, Officer Promotions

Mark Meder has been promoted to executive vice president, effective April 1. He will be responsible for operations and technology departments, including Cash, Cash Product Office Support, Law Enforcement, Real Estate Services Group, Information Technology, and Information Security.

Since joining the Cleveland Reserve Bank in 1993, he has been responsible for the safety and soundness of the Fourth Federal Reserve District’s community banking organizations; led the Credit Risk Management, Statistics and Analysis, and Financial Support Services Departments, including Strategy and Performance Management; and served as vice president of regional bank, community bank, and thrift holding company supervision in the Supervision and Regulation Department. In 2012, Meder was appointed senior vice president and general auditor of the Cleveland Fed, with responsibility for the strategic leadership and oversight of the Bank’s Audit Department.

Meder earned a BBA with a concentration in accounting from Cleveland State University and an MBA from The Ohio State University.

Margie Wright-McGowan has been promoted to executive vice president and chief human resource officer, effective April 1. She will continue to lead People and Culture, Strategy, and Bank Performance. In addition, she will assume responsibility for Corporate Communications and Engagement. Her expertise includes aligning human resource strategy with business goals to achieve significant improvements in employee engagement, organizational productivity, and management capability.

Prior to joining the Cleveland Fed, Wright-McGowan was the vice president of human resources, talent, and culture at the Vitamix Corporation. In this role, she led the Global Human Resources function, overseeing all human resources aspects of the organization, and was a member of the senior leadership team. Before joining Vitamix, she was divisional human resources leader for Siemens Healthcare.

Wright-McGowan holds a BA in political science from Ohio University, and she attended the strategic management program at Yale University and the human resources development program at the University of Michigan.

Michael Derry has been appointed senior vice president and chief technology officer for Treasury Services, effective March 1. In this role, Derry will lead and oversee technology systems, processes, and development for Treasury Services business lines, including, Debit Gateway, Treasury Cash Management System/Direct Voucher Submission, Mobile, Collections Information Repository, and Transforming Tax Collections.

Derry’s current role builds on a 16-year career with the Federal Reserve System. He joined the Cleveland Fed in 2021 after 10 years with the Federal Reserve Bank of San Francisco, where he was group vice president in ITS, responsible for supporting key payment modernization and digital transformation efforts across the System. During his tenure the San Francisco Fed, he led an enterprise portfolio of IT products and services. He began his career with the Federal Reserve System in 2005 at the Federal Reserve Bank of Richmond, where he supported information security programs.

Derry holds a BA in political science with a concentration in business studies from the University of Illinois. He has executive certificates in management leadership and strategy and innovation from the MIT Sloan School of Management Executive Education program.

Michael Steele has been promoted to assistant vice president for Real Estate Services Group, effective February 16. In this role, he will lead and oversee real estate operations, planning, design, and construction services, tenant relations, and strategic suppliers.

Steele joined the bank in 2013 from Jones Lang LaSalle, where he was a facilities manager and was promoted senior manager in 2017. He has a BA in Business Management and an MBA from Walsh University’s DeVille School of Business.

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