No. 2147

FRIDAY, MAY 9, 1997

NEW YORK FED NAMES THREE AVPs IN THE LEGAL GROUP

NEW YORK -- The Federal Reserve Bank of New York's board of directors promoted three officers to assistant vice president, the bank announced today.

Jet Auer de Saram joined the bank in September 1991 as a law clerk and was promoted to an attorney in June 1992, when she was admitted to the bar. In September 1995, Ms. Auer de Saram was appointed an officer of the bank with the title of counsel.

She holds an A.B. in biological sciences from Barnard College, Columbia University and a J.D. from Boston University School of Law. Ms. Auer de Saram is a member of the New York State Bar.

Martin C. Grant joined the bank in September 1990 as an attorney assigned to the legal group. He was promoted to positions of increasing responsibility, and in December 1993 he was appointed an officer of the bank with the title of counsel.

Mr. Grant received an A.B. degree in politics from Princeton University and a J.D. from Harvard University. After graduating from law school, he was a law clerk in Federal District Court in North Carolina. He is a member of the New York State Bar.

Michael Nelson, was named an assistant vice president, assigned to the legal group. He had been an officer of the bank, with the title of counsel, since December 1993. Mr. Nelson left in July 1995 to accept a position as vice president and senior counsel at Merrill Lynch, and rejoined the New York Fed this month.

He first came to the bank in August 1989 as a law clerk assigned to the legal group; he was promoted to an attorney in April 1990.

Mr. Nelson received an A.B. degree in social studies from Harvard University, and a J.D. from New York University School of Law. He is a member of the New York State and California Bars.