No. 2205

AUGUST 3, 1999

NEW YORK FED NAMES TWO SENIOR VPs AND TWO VPs

NEW YORK -- The Federal Reserve Bank of New York announced that its board of directors has approved the promotion of two senior vice presidents and two vice presidents.

Sarah J. Dahlgren has been promoted to senior vice president in the bank supervision group. Within the bank supervision area, she will continue to have responsibility for information systems and technology, as well as the bank supervision group's Year 2000 readiness program. She also will assume responsibility for the bank's credit and risk management function.

Ms. Dahlgren had been vice president since November 1997, responsible for information systems and the technology and Year 2000 readiness program.

Ms. Dahlgren joined the bank as an examiner in July 1990. She was promoted to senior bank examiner with supervisory responsibility for the bank analysis department in December 1993. In January 1995, Ms. Dahlgren was appointed bank supervision officer and in December 1996, she was promoted to assistant vice president.

She holds a B.A. degree in government from Cornell University and an M.A. degree in public policy from Duke University.

Darryll E. Hendricks has been promoted to senior vice president in the bank supervision group, responsible for bank analysis. Mr. Hendricks also will assist on supervisory policy matters and work with the Basel Committee on Banking Supervision at the Bank for International Settlements (BIS). He will continue his membership on the Basel Committee on Payment and Settlement Systems.

Since September 1997, Mr. Hendricks had been vice president in the payment studies function. He joined the bank in August 1992 as an economist in the banking studies division.

In December 1995, Mr. Hendricks was appointed an officer of the bank assigned to the banking studies department. In December 1996 he was promoted to assistant vice president in the payment studies function.

Mr. Hendricks holds an A.B. degree in philosophy from the University of North Carolina, an M.P.P. from the Kennedy School of Government, and a Ph.D. in public policy from Harvard University.

Leonardo Bartolini will rejoin the bank in early November and has been appointed vice president in the research and market analysis group with responsibility for the international research function. Mr. Bartolini resigned in August 1998 to accept a position as an economist in the research department of the International Monetary Fund (IMF).

He first worked for the bank in October 1995 as an economist in the foreign research department. He was promoted to a senior economist in the international research department in October 1996. In December 1997, Mr. Bartolini was appointed an officer of the bank.

Mr. Bartolini holds a B.S. degree from the University of Florence, an M.A. degree from Rutgers University and a Ph.D. in economics from Princeton University.

Joseph S. Tracy has been promoted to vice president responsible for the domestic research department.

Mr. Tracy joined the bank as a research officer in August 1996 and was assigned to the domestic research department. He was promoted to assistant vice president in the domestic research department in December 1997.

Prior to joining the bank, he was an associate professor of economics at Yale University from July 1986 to June 1992 and at Columbia University from July 1992 to June 1996.

He holds a B.A. degree in political economy from the University of Missouri and a Ph.D. in economics from the University of Chicago.