NEW YORK – The board of directors of the Federal Reserve Bank of New York has appointed Michael Strine first vice president, effective July 1, 2015. The appointment was approved by the Board of Governors of the Federal Reserve System.
Mr. Strine, 49, has served for the past two years as executive vice president and head of the Bank’s Corporate Group and as a member of the Management Committee. As first vice president, Mr. Strine will be the Bank’s second ranking officer and its chief operating officer, as well as an alternate voting member of the Federal Open Market Committee. He will be responsible for monitoring financial and operational performance, promoting a strong risk management and control culture and ensuring that the Bank has leadership strength, effective succession planning and a diverse workforce.
William C. Dudley, president and chief executive officer of the New York Fed, said, “Michael has demonstrated an unwavering commitment to enhancing the New York Fed’s operations so that we are better able to meet our objectives in support of the Fed’s mandate. As chief operating officer, Michael’s charge is to continue to foster greater integration and improvement across all of our responsibilities. I look forward to continuing to work with him.”
Mr. Strine has more than 20 years’ experience in the higher education, government, and non-profit sectors. Prior to joining the New York Fed, Mr. Strine served as executive vice president and chief operating officer at the University of Virginia. Previously, he was vice president, chief financial officer, and treasurer for Johns Hopkins University.
Mr. Strine received his Ph.D. and M.A. from Johns Hopkins University in political science, and completed graduate studies at the University of Delaware in public administration and budgeting.