August 30, 2016 6:55 AM ET


Company Overview of Federal Reserve Bank of Minneapolis

Company Overview

Federal Reserve Bank of Minneapolis provides banking supervision, economic research, treasury, and other services to Federal Reserve System and other financial institutions. It engages in supervising and regulating banking, financial, and payment systems in the United States; providing monetary policies; participating in the Federal Open Market Committee; conducting economic research; and investing in low- and moderate-income communities by building partnerships and understanding among financial institutions, community-based organizations, government entities, and the public. The company also engages in developing electronic payments system; supplying coins and currencies; and destroying wor...

90 Hennepin Avenue

Minneapolis, MN 55401-1804

United States

Founded in 1914





Key Executives for Federal Reserve Bank of Minneapolis

Chief Executive Officer and President
Age: 42
Chief Financial Officer and Vice President
Chief Operating Officer, First Vice President and Chairman of Committee On Plan Administration
General Counsel and Senior Vice President
Senior Vice President
Compensation as of Fiscal Year 2016.

Federal Reserve Bank of Minneapolis Key Developments

The Federal Reserve Bank of Minneapolis Announces Executive Changes, Effective January 1, 2016

The Federal Reserve Bank of Minneapolis announced the designation of its board chair and deputy chair and a new director, all effective January 1, 2016. Harry Melander, President of the Minnesota Building and Construction Trades Council, was appointed as a new Class C member and will serve a three-year term. Melander has 25 years of experience representing unions in the construction industry and currently serves as the first vice chair of the Metropolitan Council. The Class C group of directors is appointed by the Board of Governors to represent the public and also includes MayKao Y. Hang, who was named the 2016 chair of the board of directors, and Kendall J. Powell, who was named 2016 deputy chair. MayKao Y. Hang, president and chief executive officer of the Amherst H. Wilder Foundation in St. Paul, was designated chair of the board of directors for 2016. Hang has been a board member since 2012 and currently serves as the boards deputy chair. Retiring from the Minneapolis Feds board is 2015 Board Chair Randall Hogan, chairman and chief executive officer of Pentair Inc. Kendall J. Powell, chairman and chief executive officer of General Mills Inc. in Minneapolis, was designated deputy chair of the board of directors for 2016. Powell joined the board in 2014 as a Class C director and succeeds 2015 Deputy Board Chair MayKao Y. Hang. The responsibilities of directors are broad, ranging from overseeing the general operations of the Minneapolis Fed to reporting on district economic conditions. This information helps prepare the Minneapolis Fed president for participation in Federal Open Market Committee meetings, where decisions are made about monetary policy.

MayKao Hang to Chair Federal Reserve Bank of Minneapolis

MayKao Hang, president and CEO of Amherst H. Wilder Foundation will chair the Federal Reserve Bank of Minneapolis.

Federal Reserve Bank of Minneapolis Announces Management Changes

The Federal Reserve Bank of Minneapolis announced that Neel Kashkari has been appointed as president and chief executive officer, effective January 1, 2016. Narayana Kocherlakota will end his tenure as president and CEO on December 31, 2015. As president of the Minneapolis Fed, Kashkari will participate on the Federal Open Market Committee in the formulation of U.S. monetary policy. Kashkari has had a varied career spanning both the private and public sectors. In the private sector, he was most recently managing director and member of the executive office at PIMCO.

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Recent Private Companies Transactions

No transactions available in the past 12 months.

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