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Presidential Search
Learn about the search for the next president and CEO of the Federal Reserve Bank of Cleveland.
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Overview
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Meet the Search Committee
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The Search Process
Presidential search information and updates
November 27, 2023 – Cleveland Fed holds virtual public town hall on presidential search
Community members from across the Fourth District heard directly from members of the search committee about the rigorous, national search underway for the next president and CEO of the Cleveland Fed during a virtual public town hall held on November 27.
Search committee chair Heidi Gartland, search committee member Jacqueline Gamblin, and Spencer Stuart advisor John Harpole took questions from the audience on the role, process, and important qualifications and characteristics the next president must have.
For those who could not attend the event, a video recording is available below.
https://youtu.be/KWjKU9Whph0
November 8, 2023 – Cleveland Fed Launches Presidential Search
The Federal Reserve Bank of Cleveland has launched a search for our next president and chief executive officer. This leader will succeed President and CEO Loretta J. Mester, whose tenure will conclude on June 30, 2024, in accordance with Federal Reserve mandatory age and length of service policies.
Following directives in the Federal Reserve Act, the Reserve Bank's board of directors formed a search committee comprising its eligible Class B and C directors, those directors who are elected or appointed to represent the public and are not bankers. Our search committee is chaired by Heidi Gartland, deputy chair of the Bank’s board of directors and a Class C director.
The role of Reserve Bank president requires an individual who is committed to public service and to advancing the vision and mission of the Cleveland Fed and the work of the Federal Reserve System. The president of the Cleveland Fed plays a key role in shaping monetary and economic policy for our nation, representing the economic landscape of the historic and dynamic communities that comprise America’s industrial heartland in the Fourth Federal Reserve District.
The president must possess economic and finance expertise, a passion for public service, and the experience necessary to lead the Bank’s talented, mission-driven team of employees. Every day, the Cleveland Fed is focused on improving economic well-being in our communities, our region, and our nation.
The committee is conducting a rigorous nationwide search to identify a broad and diverse pool of highly qualified candidates, with support from the executive-search consultancy Spencer Stuart.
The Cleveland Fed is committed to a fair, robust, transparent, and inclusive presidential search process. Please explore this section for additional information about the search, and bookmark this page for updates.
Presidential search committee
The search committee for the next Federal Reserve Bank of Cleveland president and chief executive officer comprises eligible Class B and Class C directors from the Bank’s main office board of directors.
https://youtu.be/Y-39kW8N2-A
Cleveland Fed directors are experienced leaders with deep understanding of their business sectors and industries. They provide active, visible leadership within Fourth District communities and demonstrate a passion for and an interest in the Federal Reserve’s mission. Directors serving on the search committee are the following:
Heidi L. Gartland
Search Committee Chair
Deputy Chair, Board of Directors (Class C Director)
Chief Government and Community Relations Officer, University Hospitals
Doris Carson Williams
Chair, Board of Directors (Class C Director)
President and Chief Executive Officer, African American Chamber of Commerce of Western Pennsylvania
Jacqueline Gamblin
Member, Board of Directors (Class B Director)
Chief Executive Officer, JYG Innovations
Darrell McNair
Member, Board of Directors (Class B Director)
President and Chief Executive Officer, MVP Plastics, Inc.
Holly Wiedemann
Member, Board of Directors (Class B Director)
Founder, AU Associates, Inc.
The search process
A committee comprising nonbanking Class B and Class C directors of the Cleveland Fed’s main office board of directors will conduct the search, consistent with the Federal Reserve’s rules and the process outlined by the Federal Reserve Act.
Learn more about how Federal Reserve Bank presidents are selected, along with the roles and responsibilities of Federal Reserve Banks and their leaders, in this short video.
https://youtu.be/ueWQwfnCEIc
For more information, see How is a Federal Reserve Bank president selected? and Directors—Appointment of Reserve Bank Presidents and First Vice Presidents (PDF) on the Federal Reserve Board of Governors website.
Position profile
The current version of the president and chief executive officer position profile is available for download.
Provide input
Those wishing to provide feedback on the search are invited to do so by email via the following mailbox: presidentsearch@clev.frb.org. Questions not addressed in the FAQs can be directed to this mailbox, as well, and we will endeavor to update our publicly available materials whenever possible.
Apply or submit a referral
We welcome direct applications from qualified individuals and referrals of potential candidates. These can be submitted directly to Spencer Stuart at clevelandfedpresident@spencerstuart.com.