Bank Leadership

The Federal Reserve Bank of New York is led by the president, first vice present and a management committee, which is comprised of the heads of the Bank's business areas.

President

William C. Dudley became the 10th president and chief executive officer of the Federal Reserve Bank of New York on January 27, 2009. In that capacity, he serves as the vice chairman and a permanent member of the Federal Open Market Committee (FOMC), the group responsible for formulating the nation's monetary policy.

Previously, Mr. Dudley served as executive vice president of the Markets Group at the New York Fed, where he also managed the System Open Market Account for the FOMC. The Markets Group oversees domestic open market and foreign exchange trading operations and the provisions of account services to foreign central banks.

Prior to joining the Bank in 2007, Mr. Dudley was a partner and managing director at Goldman, Sachs & Company and was the firm's chief U.S. economist for a decade. Prior to joining Goldman Sachs in 1986, he was a vice president at the former Morgan Guaranty Trust Company.

Mr. Dudley was an economist at the Federal Reserve Board from 1981 to 1983. Mr. Dudley received his doctorate in economics from the University of California, Berkeley in 1982 and a bachelor's degree from New College of Florida in 1974.

In 2012, Mr. Dudley was appointed chairman of the Committee on the Global Financial System of the Bank for International Settlements (BIS). Previously, Mr. Dudley served as chairman of the Committee on Payment and Settlement Systems of the BIS from 2009 to 2012. He is a member of the board of directors of the BIS.

First Vice President

Michael Strine is first vice president at the Federal Reserve Bank of New York, the second ranking officer in the Bank and its chief operating officer, as well as an alternate voting member of the Federal Open Market Committee.

In his new role, Mr. Strine is accountable for driving financial and operational performance against the defined strategy objectives, promoting a strong risk management and control culture and ensuring that the Bank has leadership strength, effective succession planning and a diverse workforce. He leads or serves on key Federal Reserve System committees to govern technology, human resources, enterprise risk management, resources, policies and payments infrastructure.

Prior to being named to his new position, Mr. Strine was executive vice president and head of the Corporate Group.  In that role, he oversaw the financial management, business continuity, investment review, real estate, data, procurement and other general support functions of the Bank.

Mr. Strine has extensive experience in senior finance and operational roles in higher education, health care and government. Before joining the Bank in 2013, he served as executive vice president and chief operating officer at the University of Virginia. In that position, his portfolio included finance, operations, compliance and audit, real estate, healthcare, facilities, public safety and emergency preparedness.

Prior to his tenure at University of Virginia, Mr. Strine served as vice president, chief financial officer and treasurer for Johns Hopkins University where he ran the budget and five-year planning process, served as secretary to the Board of Trustees Finance Committee, and oversaw key services such as sponsored research, procurement, risk management, banking and payroll.  He also served important inter-entity governance roles that bridged Johns Hopkins University and Johns Hopkins Health Care.

From 2005 to 2008 he served as chief financial officer for New Castle County in Delaware and before that as chief of policy and operations (now called Deputy Secretary) for the State’s Department of Finance where he contributed broadly to fiscal, health and education policy and finance, as well as overseeing key operations.

Mr. Strine earned his doctorate and master's degree from Johns Hopkins University in political science, and completed graduate studies at the University of Delaware in public administration and budgeting. He served on the faculty at the University of Colorado-Boulder, the University of Denver and the University of Delaware. During that time, he was a recognized teacher, published in leading journals and prepared two book-length manuscripts, before moving to translate his academic interests in policy and organizations more directly toward issues of education, health care, jobs, community and public infrastructure.

Management Committee

The Management Committee is accountable for defining, reviewing and adjusting the Bank's medium and long term strategic priorities in the context of the Bank's multiple missions; directing and developing the Bank's resources toward the achievement of those priorities; and guiding the development and maintenance of the Bank's culture.

Management Committee Members
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