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01.15.19

Cleveland Fed announces appointments to Cleveland, Cincinnati, and Pittsburgh boards and to the Federal Advisory Council

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The Federal Reserve Bank of Cleveland announced the following appointments and elections to its main office board of directors and its branch boards in Cincinnati and Pittsburgh and to the Federal Advisory Council effective January 1, 2019.

Federal Reserve Bank of Cleveland

Dawne S. Hickton, president and founding partner, Cumberland Highstreet Partners, Sewickley, Pennsylvania, and former CEO of RTI International Metals, Inc., was appointed to a second term as director and reappointed as chair of the board of directors of the Federal Reserve Bank of Cleveland for 2019. Hickton served as chair of the board in 2018 and deputy chair in 2017. She has been a director of the Cleveland board since 2016. Hickton also served as a director of the Federal Reserve Bank of Cleveland, Pittsburgh Branch, from 2012 to 2015, and she was chair of the branch board in 2014 and 2015.

Dwight E. Smith, president and chief executive officer, Sophisticated Systems, Inc., Columbus, Ohio, was reappointed deputy chair of the board for 2019. Smith served as deputy chair of the Cleveland board for 2018 and as a director of the board since 2017. Smith also served as a director of the Federal Reserve Bank of Cleveland, Cincinnati Branch, in 2015 and 2016.

Valarie L. Sheppard, senior vice president, comptroller, and treasurer, The Procter & Gamble Company, Cincinnati, Ohio, was elected a director. Sheppard served as a director of the Federal Reserve Bank of Cleveland, Cincinnati Branch, from 2014 to 2018, and she was chair of the branch board from 2015 to 2018.

Eddie L. Steiner, president and chief executive officer, CSB Bancorp, Inc., Millersburg, Ohio, was elected a director.

You can find more information on the Cleveland board here.

Cincinnati Branch, Federal Reserve Bank of Cleveland

Jenell R. Ross, president, Bob Ross Auto Group, Centerville, Ohio, was appointed chair of the board of directors of the Federal Reserve Bank of Cleveland, Cincinnati Branch, for 2019. Ross has been a director of the branch board since 2018.

Rachid Abdallah, chair and chief executive officer, Jedson Engineering, Cincinnati, Ohio, was appointed a director.

Holly Wiedemann, president, AU Associates, Lexington, Kentucky, was appointed a director.

Tucker Ballinger, president and chief executive officer, Forcht Bank, Lexington, Kentucky, was reappointed a director.

More information on the Cincinnati board is available here.

Pittsburgh Branch, Federal Reserve Bank of Cleveland

Dmitri Shiry, managing partner, Deloitte LLP, Pittsburgh, Pennsylvania, was appointed chair of the board of directors of the Federal Reserve Bank of Cleveland, Pittsburgh Branch, for 2019 and was reappointed a director. Shiry has been a director of the branch board since 2016.

Vera Krekanova, chief research officer, Allegheny Conference on Community Development, Pittsburgh, Pennsylvania, was appointed a director.

Additional information on the Pittsburgh board can be found here.

Federal Advisory Council

Beth E. Mooney, chairman and chief executive officer, KeyCorp, Cleveland, Ohio, was reappointed to a third 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. For more information, go to www.clevelandfed.org or follow us on Facebook and Twitter.

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