May 27, 2018 9:58 PM ET

Diversified Financial Services

Company Overview of The Federal Reserve Bank of Cleveland

Company Overview

The Federal Reserve Bank of Cleveland, a central bank, specializes in payments systems, banking supervision, and economic issues. It acts as an active intermediary in clearing and settling interbank payments; models complex economic systems, analyzes data, and evaluates economic information to support the Federal Reserve Bank of Cleveland’s monetary policy, supervisory, and payments system responsibilities; produces economic research and monitors regional and national economic trends; and develops and implements electronic payment solutions for the federal government. The company’s education and public programs include tours for high school, college, and community groups; conferences and wor...

1455 East Sixth Street

Cleveland, OH 44114

United States

Founded in 1914





Key Executives for The Federal Reserve Bank of Cleveland

CEO & President
Age: 58
Chief Operating Officer and First Vice President
Senior VP & Chief Information Officer
Senior Vice President and General Counsel
Senior Vice President
Compensation as of Fiscal Year 2017.

The Federal Reserve Bank of Cleveland Key Developments

The Federal Reserve Bank of Cleveland Announces Board of Directors Appointments for Cincinnati Branch

The Federal Reserve Bank of Cleveland has appointed two Dayton-area business leaders to serve on the board of directors for the banking system's Cincinnati branch. Jenell Ross, president of Bob Ross Auto Group in Centerville, and David Evans, president and CEO of Dayton-based manufacturer TESSEC LLC, will serve as the board's directors starting this year. Ross owns five dealerships in the Dayton area, and oversees one of the auto groups in the region. The dealership is also the third-largest woman-owned business in the area, and one of the top minority-owned companies. She is also a member of the Dayton Leadership Advisory Council for the Ohio Minority Suppliers Development Council, the Dayton Area Automobile Dealers Association, Ohio Automobile Dealers association, and the board of trustees for the University of Dayton. Evans leads TESSEC, a minority-owned business founded in 2007. He is also a board member for the Air Force Museum Foundation, B&E Group, Bullen Ultrasonics, Enginetics Aerospace, Rexarc International, and the Sycamore Community Schools Board of Education. Ross and Evans join Valarie Sheppard, senior vice president, comptroller and treasurer for the Procter & Gamble company, and Alfonso Cornejo, president of the Hispanic Chamber Cincinnati USA, on the Cleveland Fed's board of directors branch in Cincinnati.

Federal Reserve Bank of Cleveland Announces Officer Promotions

The Federal Reserve Bank of Cleveland announced officer promotions on January 30, 2018. Evelyn Magas was promoted to senior vice president and chief information officer of the Federal Reserve Bank of Cleveland effective February 1, 2018. She will be responsible for the strategic leadership of the Banks Information Technology Services, Information Security, and Business Continuity functions. Magas began her career with the Cleveland Reserve Bank in 1985 as a bank examiner. She held positions of increasing responsibility within the Supervision and Regulation Department, including serving as an information technology banking supervisor and an operational risk banking supervisor. She was appointed assistant vice president in 2008, with responsibility for the departments business technology services and information management.

Federal Reserve Bank of Cleveland Announces Officer Promotions

The Federal Reserve Bank of Cleveland announces officer promotions on August 30, 2017. Thomas Dockman was appointed senior vice president with responsibility for leading the Banks eGovernment Department. Dockman will also serve as a member of the Banks executive leadership team. Dockman joined the Cleveland Reserve Bank in 2015 as vice president of eCommerce strategic initiatives, responsible for leading the Banks eCommerce and mobile business line. Before joining the Bank, Dockman held senior leadership positions at leading financial services and technology companies, including Mitek Systems, Ally Bank and Intuit. He has more than 20 years of product development and delivery experience in the financial services, insurance, and retail markets. Diana Starks was appointed vice president with responsibility for leading the Banks Office of Diversity and Inclusion. The diversity and inclusion team partners with departments throughout the Cleveland Reserve Bank in support of the Banks talent acquisition, supplier diversity, and community outreach efforts. Starks has held various operations, management, and leadership positions at the Cleveland Fed. In 2006, she was named assistant vice president in the Office of Diversity and Inclusion. She also served as assistant secretary to the Federal Reserve Systems Conference of First Vice Presidents in 2008 and 2009.

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