January 18, 2017 2:37 PM ET

Diversified Financial Services

Company Overview of Federal Reserve Bank of Richmond

Company Overview

Federal Reserve Bank of Richmond operates as a central bank that sets monetary policy, supervises and regulates member financial institutions, and provides various financial services in District of Columbia, Maryland, Virginia, North Carolina, South Carolina, and West Virginia. The company contributes to the formulation of the national monetary policy; gathers and analyzes regional economic data; processes currency, check, and electronic payments for banks; and provides financial services to the U.S. Treasury. It supervises and regulates bank holding companies, financial holding companies, and state member banks; handles requests from bank holding companies, state member banks, foreign organ...

701 East Byrd Street

Richmond, VA 23219

United States

Founded in 1914

Phone:

804-697-8000

Fax:

804-697-8255

Key Executives for Federal Reserve Bank of Richmond

Chief Executive Officer and President
Age: 61
Chief Financial Officer
Chief Operating Officer and First Vice President
Chief Technology Officer and Senior Vice President
Chief Information Officer and Senior Vice President of Corporate Support Services
Compensation as of Fiscal Year 2016.

Federal Reserve Bank of Richmond Key Developments

Jeffrey Lacker to Retire as President of Federal Reserve Bank of Richmond

Federal Reserve Bank of Richmond President Jeffrey Lacker, whose territory includes Charlotte, will retire in October 2017. Lacker joined the company in 1989 and served in various leadership positions before being appointed to his current position in August 2004.

Domtar Corporation Appoints Michael D. Garcia to the Board of Directors of the Federal Reserve Bank of Richmond, Charlotte Branch

Domtar Corporation announced that Michael D. Garcia, Domtar’s pulp and paper division president, was appointed to the board of directors of the Federal Reserve Bank of Richmond, Charlotte Branch, for a two-year term, effective January 1, 2017. Garcia will be serving in the Fifth Federal Reserve Richmond District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia.

Federal Reserve Bank of Richmond Announces Board Appointments, Effective January 1, 2017

Fifth Federal Reserve District member banks has elected the following individuals to the Board of Directors of the Federal Reserve Bank of Richmond for three-year terms effective January 1, 2017. William A. Loving Jr., president and chief executive officer of Pendleton Community Bank, Franklin, West Virginia, was elected as a Class A director. ngel Cabrera, president of George Mason University, Fairfax, Virginia, was elected as a Class B director. Calvin G. Butler Jr., chief executive officer of Baltimore Gas and Electric Company, Baltimore, Maryland, was appointed by the Board of Governors to a two-year term on the Richmond board. Margaret G. Lewis, retired president of HCA Capital Division, Richmond, Virginia, was reappointed by the Board of Governors to a three-year term on the Richmond board. Wayne A.I. Frederick, president of Howard University, Washington, D.C., was appointed by the Board of Governors to a three-year term on the Baltimore branch board. Mary Ann Scully, chairman, president, and chief executive officer of Howard Bancorp, Ellicott City, Maryland, was reappointed by the Richmond Board of Directors to a three-year term on the Baltimore branch board. Michelle A. Mapp, chief executive officer of South Carolina Community Loan Fund, Charleston, South Carolina, was appointed by the Board of Governors to a three-year term on the Charlotte branch board. Michael D. Garcia, president of the pulp and paper division of Domtar, Fort Mill, South Carolina, was appointed by the Richmond Board of Directors to a two-year term on the Charlotte branch board. R. Glenn Sherrill Jr., president and chief operating officer of SteelFab Inc., Charlotte, North Carolina, was appointed by the Richmond Board of Directors to a one-year term on the Charlotte branch board. Michael C. Crapps, president and chief executive officer of First Community Bank, Lexington, South Carolina, was reappointed by the Richmond Board of Directors to a three-year term on the Charlotte branch board. Each Federal Reserve Bank has a nine-member Board of Directors. Three Class A and three Class B directors are elected to three-year terms by the stockholding member banks, and three Class C directors are appointed to three-year terms by the Board of Governors of the Federal Reserve System. Class A directors represent the stockholding member banks in each Federal Reserve District. Class B and Class C directors represent the public and are chosen with due consideration to the interests of agriculture, commerce, industry, services, labor and consumers. The boards of directors of the Baltimore and Charlotte branches of the Federal Reserve Bank of Richmond each have seven members. A majority of each branchs directors are appointed by the Board of Directors of the Federal Reserve Bank of Richmond and the remainder by the Board of Governors of the Federal Reserve System.

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