Arrivals and departures shape Federal Reserve Board.
New to the Board
Bies was appointed to a full term that ends Jan. 31, 2012. Prior to her appointment, she was executive vice president for risk management and auditor at First Tennessee National Corp. located in Memphis, Tenn.
Before joining First Tennessee, Bies taught at Rhodes College and at Wayne State University. She also worked at the Federal Reserve Bank of St. Louis as chief regional and banking structure economist.
Olson fills an unexpired term ending Jan. 31, 2010. He was staff director of the securities subcommittee of the Banking, Housing, and Urban Affairs Committee for the U.S. Senate prior to his appointment. During his tenure the subcommittee held oversight hearings on implementation of key sections of the Gramm-Leach-Bliley Act.
Olson also served as a partner with Ernst & Young LLP and its predecessor, Arthur Young & Co., from 1988 to 1999. Earlier, Olson was president and chief executive officer of Security State Bank, located in Fergus Falls, Minn.
Kelley submitted his resignation in mid-December, effective at the end of the year. A member of the Board since 1987, Kelley said he was resigning to turn his attention to family and other personal interests. During much of his tenure, he served as chairman of the Board's Committee on Reserve Bank Affairs, which oversees the 12 Federal Reserve Banks.
Meyers resignation was effective the last day of his term, Jan. 31. During his time on the Board, he served as chairman of the Committee on Supervisory and Regulatory Affairs and oversaw the Board's regulatory implementation of the Gramm-Leach-Bliley Act. Meyer was appointed to the Board by President Clinton in 1996.
The seven members of the Board of Governors are nominated by the president and confirmed by the Senate.
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|Article Type:||Brief Article|
|Date:||Jan 1, 2002|
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