Changes in board staff.

The Board of Governors has approved the promotion of Fay Peters to director of the Management Division.

Ms. Peters was appointed to the official staff as deputy director of the Management Division in April 2003 and has served as acting director since William R. Jones retired in August 2003. Ms. Peters joined the Federal Reserve System in 1982 as an attorney in the Legal Department of the Federal Reserve Bank of Boston. In 1988 she transferred to the Federal Reserve Bank of Minneapolis as assistant general counsel and deputy equal employment opportunity (EEO) officer. In 1999 she was promoted to vice president, with responsibilities for managing the Bank's facilities, protection, and administrative services functions and advising Bank executives on EEO matters. Ms. Peters holds a B.S. in business administration from Northeastern University and a J.D. from the Boston University School of Law.

The Board of Governors has approved the appointment of Peter J. Purcell as associate director and chief technology officer for the System's supervision function.

Mr. Purcell will coordinate Information Technology (IT) support and development efforts for the System's supervision function. Before joining the Board, Mr. Purcell held IT management positions at several banking organizations and was an international technology services provider. He started his career in information technology at the Federal Reserve Bank of Boston. Mr. Purcell holds a B.B.A. from Nazareth College and an M.B.A. in management from Western Michigan University.