Cleveland Fed Announces Director Appointments and Federal Advisory Council Appointment.CLEVELAND -- The Federal Reserve Bank of Cleveland The Federal Reserve Bank of Cleveland is the Cleveland-based headquarters of the U.S. Federal Reserve System's Fourth District. The district is composed of Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. announced the following appointments to its main office and branch boards of directors and to the Federal Advisory Council. All appointments were effective January 1, 2005. Federal Reserve Bank of Cleveland Robert W. Mahoney, retired chairman and chief executive officer of Diebold, Incorporated, Canton, Ohio Canton is a city in the U.S. state of Ohio and the county seat of Stark CountyGR6. The municipality is located in northeastern Ohio and is situated on the Nimishillen Creek, approximately 24 miles (38 km) south of Akron[4] , has been reappointed chairman of the board of directors of the Federal Reserve Bank of Cleveland. Charles E. Bunch, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of PPG Industries PPG Industries (NYSE: PPG) was founded in 1883 as the Pittsburgh Plate Glass Company. PPG is an American manufacturer of glass and chemical products, including automotive safety glass. , Inc., Pittsburgh, Pennsylvania “Pittsburgh” redirects here. For the region, see Pittsburgh Metropolitan Area. Pittsburgh (pronounced IPA: /ˈpɪtsbɚg/) is the second largest city in the Commonwealth of Pennsylvania. , was reappointed a director and renamed deputy chairman of the board. In addition, Henry L. Meyer III, chairman and chief executive officer of KeyCorp, Cleveland, Ohio "Cleveland" redirects here. For the Cleveland metropolitan area, see . For other uses, see Cleveland (disambiguation). Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County, the most populous county in the state. , and Les C. Vinney, chief executive officer and president of STERIS Corporation STERIS was founded in 1987 with a venture capital investment of $1.2 million and a plan for a healthier and safer world. Today, the Company stands at the forefront of efforts to prevent infection and contamination in healthcare and pharmaceutical environments, and is broadening its reach , Mentor, Ohio Mentor is a city in Lake County, Ohio, United States. The population was 50,278 at the 2000 census. In July 2006, CNNMoney.com ranked Mentor 68th in a list of the Top 100 Best Places to Live in America. In 1876 James A. , were elected directors of the Cleveland Reserve Bank. Cincinnati Office James M. Anderson, president and chief executive officer of the Cincinnati Children's Hospital Medical Center Cincinnati Children's Hospital Medical Center is a hospital in Cincinnati, Ohio. In June of 1883, a meeting of women from parish communities around Cincinnati established a mission to create a Diocesan Hospital for Children. , Cincinnati, Ohio, was appointed a director and named chairman of the board of directors of the Cincinnati Office of the Federal Reserve Bank of Cleveland. In addition, James H. Booth, president of the Czar Coal Corporation, Lovely, Kentucky, and Herbert R. Brown, senior vice president of Western & Southern Financial Group, Cincinnati, Ohio, were reappointed as directors. Pittsburgh Office Roy W. Haley, chairman and chief executive officer of WESCO International, Inc., Pittsburgh, Pennsylvania, has been reappointed chairman of the board of directors of the Pittsburgh Office of the Federal Reserve Bank of Cleveland. In addition, Robert O. Agbede, president and chief executive officer of ATS-Chester Engineers, Inc., Pittsburgh, Pennsylvania, and Michael J. Hagan, president and chief executive officer of Iron and Glass Bank, also in Pittsburgh, were reappointed as directors. Federal Advisory Council Martin G. McGuinn, chairman and chief executive officer of Mellon Financial Corporation, Pittsburgh, Pennsylvania, will again represent the Fourth Federal Reserve District Federal Reserve District (Reserve district or district) One of the twelve geographic regions served by a Federal Reserve Bank. on the Federal Advisory Council. McGuinn's one-year term began on January 1, 2005. The Federal Advisory Council is composed of representatives of the banking industry from each of the 12 Federal Reserve Districts. The Council consults with and advises the Board of Governors of the Federal Reserve System Board of Governors of the Federal Reserve System The managing body of the Federal Reserve System, which sets policies on bank practices and the money supply. on general business conditions and issues related to the financial services industry. The Federal Reserve System The Federal Reserve Bank of Cleveland is one of twelve regional Reserve Banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates U.S. monetary policy, regulates banks and bank holding companies, and provides payment services to financial institutions and to the U.S. government. Payment services include check clearing, electronic payments, and the distribution of currency and coin. Reserve Bank Directors Each Reserve Bank's main office has a nine-member board of directors. Three directors represent the interests of banking in each District and are elected by banks that are members of the Federal Reserve System. The other six directors represent the general public, which includes business, agriculture, labor and consumers. Of these, three are elected by member banks and three are appointed by the Board of Governors. Directors' responsibilities include: providing information to Reserve Bank presidents on regional business conditions; making recommendations to the Federal Reserve Board regarding the Federal Reserve's discount rate; selecting the Reserve Bank's president and chief operating officer; and overseeing the Bank's budget and finances. Each Reserve Bank branch has a seven-member board of directors that oversees branch operations and provides input regarding local business conditions. For a complete list of the members of the boards of directors of the Federal Reserve Bank of Cleveland and its branches, see www.clevelandfed.org/about/BODclev.cfm. Fourth Federal Reserve District The Federal Reserve Bank of Cleveland, including its branch offices in Cincinnati and Pittsburgh, and its check-processing center in Columbus, serves the Fourth Federal Reserve District, which includes Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia The Northern Panhandle is a culturally and geographically distinct region in the U.S. state of West Virginia. It is the state's northernmost extension, bounded by the Ohio River on the west and the state of Pennsylvania on the east. . |
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