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Changes in board staff.

General Counsel Virgil Mattingly retired on June 30, 2004, after thirty years of service with the Federal Reserve Board, including twenty-five years as a member of the Board's official staff.

Stephen C. Schemering, Senior Adviser and former Deputy Director in the Division of Banking Supervision and Regulation, retired from the Board on June 4, 2004, after nearly thirty years of service.

Steve Siciliano, Assistant General Counsel in the Legal Division, retired from the Board on June 30, 2004, after thirty-one years of service.

The Board of Governors on June 29, 2004, announced the selection of Scott G. Alvarez as its general counsel, effective July 1, 2004.

Mr. Alvarez succeeds Virgil Mattingly, who announced in April his intention to retire.

The Board of Governors approved on July 22, 2004, the following officer promotions and appointments in the Division of Research and Statistics.

* David L. Reifschneider, Assistant Director, promoted to deputy associate director

* William L. Wascher III, Assistant Director, promoted to deputy associate director

* J. Nellie Liang, Assistant Director and Chief, promoted to assistant director with line responsibility for the Capital Markets and Flow of Funds Sections

* S. Wayne Passmore, Assistant Director and Chief, promoted to assistant director with line responsibility for the Household and Real Estate Finance Section

* Douglas Elmendorf appointed assistant director and chief of the Macroeconomic Analysis Section

* Diana Hancock appointed assistant director and chief of the Monetary and Financial Studies Section

* Daniel Sichel appointed assistant director with line responsibility for the Fiscal Analysis Section

David L. Reifschneider joined the Board in 1982 as an economist in the National Income Section. He was promoted to senior economist in 1989, and was named chief of the Macroeconomics and Quantitative Studies Section in 1996. He was promoted to the official staff as assistant director in 2000. Mr. Reifschneider received his Ph.D. from the University of Wisconsin.

William L. Wascher III began his Board career in 1983 as an economist in the Wages, Prices, and Productivity Section. He was promoted to senior economist in 1989. Mr. Wascher served as senior economist at the Council of Economic Advisers in 1989 and 1990. He has also been a visiting economist at the Bank for International Settlements. In 1998, he was promoted to chief of the Wages, Prices, and Productivity Section, and in 2000, he was made chief of the Macroeconomic Analysis Section. Mr. Wascher was appointed to the official staff as assistant director in 2001. He received his Ph.D. in economics from the University of Pennsylvania.

J. Nellie Liang joined the Division of Research and Statistics in 1986 as an economist in the Financial Structure Section. In 1994, she moved to the Capital Markets Section and was named chief of the section in 1997. She was appointed to the official staff in 2001 as assistant director and chief. Ms. Liang received her Ph.D. in economics from the University of Maryland.

S. Wayne Passmore began his career at the Federal Reserve Bank of New York in 1984. He moved briefly to the Board as a staff economist in 1987, before taking a position as assistant vice president at the Federal Home Loan Bank in San Francisco. Mr. Passmore returned to the Board in 1990 as a senior economist in the Capital Markets Section. He was promoted to chief of the Financial Institutions Section in 1997, a section that was the predecessor of the current Household and Real Estate Finance Section. He was promoted to the official staff in 2000 as assistant director and chief. He received his doctoral degree from the University of Michigan.

Douglas Elmendorf joined the Board in 1995 as an economist in the Division of Monetary Affairs. In 1998, he took a leave of absence to serve on the staff of the Council of Economic Advisers. In 1999, he joined the Treasury Department as a deputy assistant secretary. Mr. Elmendorf rejoined the Board in 2001 as a senior economist in the Macroeconomic Analysis Section in the Division of Research and Statistics. Since 2002, he has served as chief of that section. He received his Ph.D. in economics from Harvard University in 1989.

Diana Hancock joined the Board in 1991 as an economist in the Division of Monetary Affairs, and then served in the Division of Reserve Bank Operations and Payment Systems, where she was promoted to senior economist in 1996. She joined the Monetary and Financial Studies Section in the Division of Research and Statistics in 1997, and was named chief of the section in 1999. Ms. Hancock received her Ph.D. in economics from the University of British Columbia.

Daniel Sichel joined the Board in 1988 as an economist in the Economic Activity Section in the Division of Research and Statistics. He left the Board in 1993 to become a research associate at the Brookings Institution. In 1995, Mr. Sichel joined the Treasury Department as deputy assistant secretary for macroeconomic analysis. He re-joined the Board in 1996 as a senior economist in the Economic Activity Section. Mr. Sichel worked in the Industrial Output Section before joining the Capital Markets Section. He received his Ph.D. in economics from Princeton University.
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Title Annotation:Announcements; Federal Reserve Board
Publication:Federal Reserve Bulletin
Geographic Code:1USA
Date:Jun 22, 2004
Words:853
Previous Article:Enforcement actions.
Next Article:Orders issued under Bank Holding Company Act.


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