No. 2202

THURSDAY, JULY 8, 1999

NEW YORK FED NAMES FOUR VPs AND SEVEN AVPs

NEW YORK -- The Federal Reserve Bank of New York announced that its board of directors has approved the promotions of four vice presidents and seven assistant vice presidents.

Peter M. Gordon has been promoted to vice president of the network and data center operations function. He had been an assistant vice president in the data processing function since March 1994.

Mr. Gordon joined the bank as a programmer in June 1968. In January 1983, he was appointed an officer of the bank responsible for the computer operations support department. From 1983 to 1999 Mr. Gordon worked in a variety of programming and system-related areas at the bank including, telecommunications operations support, contingency operations and quality assurance, and data processing in the East Rutherford Operations Center.

He holds a B.S. degree from New York University.

John Kambhu has been promoted to vice president in the capital markets function. He supervises and conducts research and analysis on various financial markets, instruments and institutions. He had been assistant vice president in the capital markets function since July 1995.

Mr. Kambhu joined the bank in June 1988 as an economist. In July 1991, he was promoted to senior economist and assigned to the international capital markets staff. In December 1993, Mr. Kambhu was appointed research officer in the international financial markets department.

He holds a B.A. degree from the University of Massachusetts and a Ph.D. degree from New York University, both in economics.

Michael A. Maffattone has been promoted to vice president responsible for the markets group automation services. He supervises the group's computing environment, including real-time data feeds, integrated trading room systems, data collection and distribution. He also is responsible for data analysis and software engineering/development services. He had been assistant vice president of the same area since December 1997.

Mr. Maffattone joined the bank in June 1983 as an assistant programmer. In May 1996, he was appointed officer for software development and resource development in the markets group.

He holds a B.S. in computer science from the City University of New York, and he is attending his final semester at the American Bankers Association's Stonier Graduate School of Banking.

Francis J. Reischach has been promoted to vice president in the markets group responsible for accounting and control, and account relations with central banks. He had been assistant vice president for the central bank services function since January 1995.

Mr. Reischach joined the Bank in 1963 as a clerk in the accounting department and held a variety of positions prior to being assigned staff director in that department. In 1978, he was appointed an officer of the bank assigned to the foreign department.

He holds a B.S. degree in business management from St. Peter's College.

The following officers have been named assistant vice president:

Ira Kahner, automation and system service group;

Lennox A. Myrie, automation and system service group

John J. Clark, emerging markets and international affairs group;

Howard J. Howe, emerging markets and international affairs group;

Elizabeth Rodriguez Jackson, office of regional and community affairs;

Brendan T. Gormley, legal group;

Andrew M. Danzig, markets group.