Carl W. Turnipseed is executive vice president in charge of the Financial Services Group. He is also a member of the Bank's Management Committee. His responsibilities include overseeing the Second District's cash and custody, electronic payments and international Treasury services.

Mr. Turnipseed's career at the New York Fed began as a management trainee in 1969. Shortly after joining the Bank, he left to serve as a lieutenant in the U.S. Army. Upon his return to the Bank in 1971, he was assigned to human resources and subsequently served in positions of increasing responsibility in various areas, including accounting, check processing, government bond and ACH. In conjunction with his 1986 assignment to the foreign relations area, he was selected to represent the Federal Reserve System at the XVI SEANZA (South East Asia, New Zealand, Australia) Central Bank course in Dhaka, Bangladesh.

Mr. Turnipseed, a native of Baltimore, Maryland, is a graduate of Morgan State College and received a master of business administration degree from New York University.

He was named Banker of the Year by the Urban Bankers Coalition, a professional organization founded as a forum for minority bankers and was selected Executive of the Year by the Buffalo Chapter of Professional Secretaries International.

Mr. Turnipseed also enjoys being active in organizations that address the needs of young people and the community. He is a founding member of the board of directors of Classroom Inc., a program designed to teach middle and high school students critical thinking skills using personal computer-based business simulations. In addition, he is a member of Sigma Pi Phi Fraternity, and the National Association of Urban Bankers. He is also a life member of the Kappa Alpha Psi Fraternity, Inc., the NAACP and the Morgan State University Alumni Association.

Mr. Turnipseed is married and lives in the New York metropolitan area. He enjoys running and finished two New York City marathons.

March 2009