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July 02, 2015 1:31 PM ET

Diversified Financial Services

Company Overview of Federal Reserve Bank of Philadelphia, Inc.

Company Overview

Federal Reserve Bank of Philadelphia, Inc. provides central banking services in Pennsylvania, southern New Jersey, and Delaware. It helps formulating and implementing monetary policies; supervises banks, and bank and savings and loan holding companies; provides financial services to depository institutions and the federal government; performs services for the U.S. Treasury; and supports an effective payments system. The company was founded in 1914 and is based in Philadelphia, Pennsylvania.

Ten Independence Mall

Philadelphia, PA 19106-1574

United States

Founded in 1914





Key Executives for Federal Reserve Bank of Philadelphia, Inc.

Chief Executive Officer, President and Director
Age: 56
Founder and Chairman
Age: 63
Chief Operating Officer and First Vice President
Vice Chairman and Chief Financial Officer
Age: 50
Chief Information Officer and Senior Vice President
Compensation as of Fiscal Year 2015.

Federal Reserve Bank of Philadelphia, Inc. Key Developments

Federal Reserve Bank of Philadelphia Announces the Promotion of Michael T. Doyle to Vice President in Treasury Payments

The Federal Reserve Bank of Philadelphia has announced the promotions of Michael T. Doyle to vice president in Treasury Payments. Since 2010, Doyle has led the team supporting the Treasury Check Information System, and more recently, he has directed the development of the Post Payment System (PPS), a large, multiyear application development effort for the Treasury. Doyle has made significant contributions to the project's success and will provide strong leadership as the project delivers major releases of PPS over the next several years. Doyle joined the Bank in 1988 in the Information Technology Services (ITS) Department and has held several technical and managerial positions.

Federal Reserve Bank of Philadelphia, Inc. Announces Management Changes

Patrick T. Harker has been named president and chief executive officer of the Federal Reserve Bank of Philadelphia. Charles I. Plosser, who had been president and CEO retired effective March 1, 2015. Harker is president of the University of Delaware and a member of the Philadelphia Fed's board of directors. In addition to serving as president of the University of Delaware, Harker is also a professor of business administration in the university's Alfred Lerner College of Business and Economics and a professor of civil and environmental engineering in the university's College of Engineering.

Federal Reserve Bank of Philadelphia Announces Executive Promotions

The Federal Reserve Bank of Philadelphia has announced the following promotions: Robert F. Mucerino has been promoted to vice president in the treasury services department from assistant vice president; Julia Cheney to assistant vice president and assistant director in the payment cards center from officer and assistant director; Kim Taylor to assistant vice president in human resources from officer. Michael Costello and Andrew Kish have been promoted to assistant vice presidents in the supervision, regulation, and credit department. Costello was business technology officer and Kish was senior financial risk manager.

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