Presidential Search

January 5, 2024 – Ramona Hood, Richard J. Kramer Join the Presidential Search Committee

The Federal Reserve Bank of Cleveland announced the appointments of Ramona Hood and Richard J. Kramer to its main office board of directors, effective January 1, 2024. As Class C directors, Ms. Hood and Mr. Kramer were additionally appointed as members to the presidential search committee.

Doris Carson Williams, search committee member, also transitioned off the committee upon the conclusion of her board service on December 31, 2023. The search committee extends their deepest appreciation for Ms. Carson Williams’ dedication and leadership to this important work and her tireless support of the Federal Reserve Bank of Cleveland during her board tenure.

December 18, 2023 – Cleveland Fed to Hold Additional Public Town Hall on Presidential Search

The community is invited to engage with members of the search committee about their work to select the next president and CEO of the Cleveland Fed in a second virtual town hall, set for January 9, 2024, at 9 am EST.

Search committee chair Heidi Gartland and search committee member Darrell McNair will answer questions from the community on the search process, the position of Reserve Bank president, and the qualifications and characteristics an individual needs to be successful in this role. This opportunity builds on the initial public town hall offered in November. A video of that discussion is available below.

Advance registration is required, and community members may submit questions in advance as well as during the moderated session. Join us on January 9.

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.

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.

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:

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.