Press Release
New York Fed Names 11 Senior Vice Presidents, Five Vice Presidents
January 4, 2007

NEW YORK—The Federal Reserve Bank of New York’s board of directors has approved the promotion of 11 senior vice presidents and five vice presidents.

John J. Clark, Jr. has been promoted to senior vice president in the development studies and foreign research function in the Emerging Markets and International Affairs Group. He had been a vice president since December 2000 and assistant vice president since June 1999, both in the same group.

In December 1997, he was named an officer of the Bank assigned to the development studies and foreign research function. Mr. Clark joined the Bank in December 1992 as an economist in the international finance department.

Mr. Clark holds a B.A. degree from Harvard University and an M.A., M.Phil and Ph.D from Yale University.

B. Gerard Dages has been promoted to senior vice president in the financial markets and institutions function in the Emerging Markets and International Affairs Group. He had been a vice president since December 2000 and assistant vice president since December 1996, both in the same area.

In December 1995, he was assigned to the newly established Emerging Markets and International Affairs Group. In March 1993, he was named an officer of the Bank assigned to the international surveillance and review department. Mr. Dages joined the Bank in August 1988 as a bank examiner.

Mr. Dages holds a B.S. degree from the University of Illinois and an M.P.A. from the Woodrow Wilson School of Public and International Affairs, Princeton University.

Jeanmarie Davis has been promoted to senior vice president for large complex banking organizations in the Bank Supervision Group. She had been a vice president since January 2005 and assistant vice president since January 2003 in the market and liquidity risk management function.

In March 1993, Ms. Davis was named an officer of the Bank. She joined the Bank in June 1985 as an applications analyst.

Ms. Davis holds a B.A. degree from Colgate University and an M.B.A. degree from Baruch College.

Zahra El-Mekkawy has been promoted to senior vice president in the resource and logistics management function in the Bank Supervision Group. She had been a vice president in the resource and logistics function since July 2006, in the risk management function since July 2004, and in market and liquidity risk since September 2002. Prior, Ms. El-Mekkawy served on the Secretariat for the Basel Committee on Banking Supervision at the Bank for International Settlements.

She was named an officer of the Bank in June 1997 and was assigned to the foreign exchange staff in the Markets Group. Ms. El-Mekkawy joined the Bank in August 1991 in the banking applications department.

Ms. El-Mekkawy holds a B.S. and a B.A. degree from Boston University and a Master of International Affairs from Columbia University.

Beverly J. Hirtle has been promoted to senior vice president in the banking studies function in the Research and Statistics Group. She served in the same area as vice president since 1995. From 1996 to 1997 she was granted a leave of absence to work with the Committee on the Federal Reserve in the Payments Mechanism.

Ms. Hirtle joined the Bank in 1986, was named an officer in 1991 and an assistant vice president in 1994.

Ms. Hirtle holds a B.A. degree from Amherst College and a Ph.D. from the Massachusetts Institute of Technology.

Elizabeth Irwin-McCaughey has been promoted to senior vice president in the strategic investment and risk assessment office in the Corporate Group. She had served as a vice president in the Executive Office since June 1998, as an assistant vice president in the wholesale product office since 1996 and in the compliance examinations function of the Bank Supervision Group since January 1995.

She was named an officer of the Bank in January 1988 and was assigned to the auditing department. Ms. Irwin-McCaughey joined the Bank in June 1975.

Ms. Irwin-McCaughey holds a B.A. degree from Douglass College and an M.B.A. degree from Columbia University’s Graduate School of Business. She is also a certified internal auditor.

Theodore J. Lubke has been promoted to senior vice president in the operational risk department in the Bank Supervision Group.

He had been a vice president since January 2003 with responsibility for the Fedwire® Funds, Securities and National Settlement operations in the Financial Services Group, and had served as assistant vice president since June 2001 in the electronic payments function. In June 1999, he was named a Bank officer in the payments studies function of the Research and Statistics Group. Mr. Lubke joined the Bank in August 1995.

Prior to joining the Bank, Mr. Lubke worked at Lehman Brothers and on the staff of the National Economic Council at the White House.

Mr. Lubke holds a B.A. degree in history and literature from Harvard College and an M.P.P. degree in housing and urban development from the John F. Kennedy School of Government, Harvard University.

Sean G. Mahon has been promoted to senior vice president in the information security function of the Automation and Systems Services Group.

He had been a vice president in the same area since May 2001, when he joined the New York Fed.

Prior to joining the Bank, he worked for Credit Lyonnais Bank as a vice president in information security and change management.

Mr. Mahon holds a B.S. degree in management and finance from Fordham University and M.S. degree in computer systems management from the University of Maryland.

Patricia C. Mosser has been promoted to senior vice president in the Markets Group with responsibility for foreign exchange and capital markets analysis. Her operational responsibilities include permanent open market operations, foreign exchange intervention and foreign reserve management. In addition, she is responsible for the Markets Group analytical work on foreign exchange markets, non-Treasury domestic financial markets and international fixed income markets. Previously she was an economist in the Research and Statistics Group where she conducted research in macroeconomics and financial markets.

Before joining the New York Fed, Ms. Mosser was on the economics department faculty of Columbia University. She has a Ph.D. in economics from the Massachusetts Institute of Technology, a master’s degree with distinction from the London School of Economics and Political Science, and a B.A. from Wellesley College.

Peter Smejkal has been promoted to senior vice president in the information technology function of the Automation and Systems Services group.

He had been a vice president since December 1999, and an assistant vice president since December 1996 in the cash and check systems department of the systems development function. In July 1992, he was named an officer of the Bank in the operations system department of the systems development function. Mr. Smejkal joined the Bank in September 1979 in the same area.

Mr. Smejkal holds an M.S. degree from Czech Technical University, where he also completed his Ph.D. coursework.

Lawrence M. Sweet has been promoted to senior vice president in the payments policy function of the Executive Group. Mr. Sweet is also a member of the Bank for International Settlements’ Group of Ten Central Banks’ Committee on Payment and Settlement Systems and is chairman of the CPSS Sub-Group on Foreign Exchange Settlement Risk.

At the New York Fed, Mr. Sweet was assigned to the payments policy function upon its establishment in May 2004. Previously, Mr. Sweet had been a vice president since 1997 in the development studies and foreign research function of the Emerging Markets and International Affairs Group. In 1993, he was named an assistant vice president on the payment systems studies staff, and in 1990 was named an officer in the same area. Mr. Sweet joined the Bank in 1985 as an economist in the Research and Statistics Group, and held positions of increasing responsibility in the international finance department, the credit and discount department and international capital markets staff.

Mr. Sweet chaired the CPSS Steering Group on Settlement Risk in Foreign Exchange Transactions from May 1997 to July 1998. Mr. Sweet also served as secretary to the group during his special assignment to the Bank for International Settlements in Basel, Switzerland from September 1994 to December 1996.

Mr. Sweet holds a B.A. degree in economics from Rutgers College and an M.A. and M.Phil. degree, both in economics, from Columbia University.

F. Christopher Calabia has been promoted to vice president in the credit risk function of the Bank Supervision Group. He had been an assistant vice president since May 2005 and had been assigned to the Executive Office until December 2005, when he assumed his current position in the Bank Supervision Group.

In April 2003, Mr. Calabia took a leave of absence to serve as a Member of the Secretariat for the Basel Committee on Banking Supervision at the Bank for International Settlements. In June 2001, he was named an officer of the Bank assigned to the policy and analysis function. Mr. Calabia joined the Bank as a bank examiner in August 1993.

Mr. Calabia holds a B.A. from the University of Virginia and an Master of Arts in Law and Diplomacy degree from the Fletcher School of Law and Diplomacy at Tufts University.

Yoon Hi Greene has been promoted to vice president in the Legal Group. She had been an assistant vice president since January 2005.

In June 2001, she was named an officer of the Bank with the title of counsel. Ms. Greene joined the Bank in February 1999 as an attorney. Prior to joining the Bank, she worked at Kaye, Scholer, Fierman, Hays and Handler, LLP as an associate and an assistant district attorney at the New York County District Attorney’s Office.

Ms. Greene holds a B.A. degree from Northwestern University and a J.D. degree from Fordham University School of Law.

Ivan Hurwitz has been promoted to vice president in the banking applications function of the Legal Group. He had been an assistant vice president since December 2001.

In June 1998, he was named an officer of the Bank with the title of counsel. Mr. Hurwitz joined the Bank in September 1993 as a law clerk.

Mr. Hurwitz holds a B.S. degree from the University of Pennsylvania and J.D. degree from Boston University School of Law.

Susan E. McLaughlin has been promoted to vice president in the financial management and discount window, Market Group. She was the deputy chief of staff since July 2006 and a special assistant to the Office of the First Vice President since February 2006. She had been an assistant vice president since January 2005 on the financial management and discount window, portfolio design and management staff.

In June 2000, she was named an officer of the Bank assigned to the fiduciary and financial services division. Ms. McLaughlin joined the Bank in July 1993 as a financial analyst B in the banking studies department of the Research and Statistics group.

Ms. McLaughlin holds a B.A. degree from Oberlin College, and M.B.A. and M.P.P. degrees from the University of Michigan. She is a CFA charterholder.

Simon M. Potter has been promoted to vice president in the macroeconomic and monetary studies function of the Research and Statistics Group. He had been an assistant vice president in the macroeconomic and monetary studies function since June 2005.

He was named an officer of the Bank in January 2004 assigned to the domestic research function. Mr. Potter joined the Bank in June 1998 as an economist in the same area.

Mr. Potter holds a B.A. and M. Phil degree from Oxford University, United Kingdom, and a Ph.D. from the University of Wisconsin.