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McDONOUGH NAMED PRESIDENT OF FEDERAL RESERVE BANK OF N.Y.

 NEW YORK, July 16 /PRNewswire/ -- William J. McDonough today was named president of the Federal Reserve Bank of New York. His appointment, succeeding E. Gerald Corrigan, is effective July 19.
 Mr. McDonough, 59, has been executive vice president of the New York Fed's financial markets group and the manager of open market operations for the Federal Reserve System's Federal Open Market Committee. He was chosen as the New York Federal Reserve Bank's eighth chief executive by the bank's board of directors and his appointment was confirmed today by the Federal Reserve's Board of Governors.
 He joined the bank in January, 1992, after a 22-year career at First Chicago Corp. and its bank, First National Bank of Chicago. He retired from First Chicago in 1989 as vice chairman of the board and a director of the bank holding company.
 Mr. Corrigan announced his retirement plans in January. He had been president of the New York Fed since January, 1985.
 -0- 7/16/93
 /NOTE TO EDITORS: Mr. McDonough will have a news conference today at 2:30 p.m. in the 12th floor conference center at the New York Fed, 33 Liberty Street.
 /CONTACT: Bart Sotnick, 212-720-6143, or Steven Malin, 212-720-6141, or Peter Bakstansky, 212-720-6136, all of The New York Fed./


CO: Federal Reserve Bank of New York ST: New York IN: FIN SU: PER

WB -- NY030 -- 2481 07/16/93 12:50 EDT
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Publication:PR Newswire
Date:Jul 16, 1993
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