Press Release

New York Fed Launches Search for New First Vice President

October 20, 2020

NEW YORK—The Federal Reserve Bank of New York today announced the search for a new first vice president and chief operating officer, following the retirement of Michael Strine.

The New York Fed’s first vice president and chief operating officer serves as the Bank’s second-ranking officer—reporting to the Bank’s president and chief executive officer—a member of its Executive Committee, and an alternate voting member of the Federal Open Market Committee.

A subset of the eligible members of the New York Fed’s Board of Directors, those without bank affiliations, have formed a committee to lead the search for Mr. Strine’s successor. That committee includes Denise Scott, Chair of the New York Fed’s Board of Directors and Executive Vice President of Local Initiatives Support Corporation; Rosa M. Gil, Deputy Chair of the New York Fed’s Board of Directors and Founder, President & Chief Executive Officer of Comunilife, Inc.; Vincent Alvarez, President of the New York City Central Labor Council, AFL-CIO; and Adena T. Friedman, President and Chief Executive Officer of Nasdaq, Inc.

The search committee has retained executive search firm Bridge Partners, an executive search firm with unique expertise in attracting and retaining senior, diverse executives.

“The New York Fed’s chief operating officer is critical to advancing the Bank’s mission and strategic priorities,” said Ms. Scott, who is serving as Chair of the search committee. “Working closely with President Williams, we look forward to conducting an inclusive search that identifies a broad, diverse, and highly qualified pool of candidates from which to select the next first vice president.”

The ideal candidate will have extensive leadership experience, a strong track record of advancing diversity and inclusion, and demonstrated people management, collaboration, and communication skills, among other attributes. Once selected, the role is subject to approval by the Board of Governors of the Federal Reserve.

For additional information on the role, including how to recommend a potential candidate or apply for the position, please contact Bridge Partners directly at tory.clarke@bridgepartnersllc.com.

About the New York Fed
The New York Fed oversees the Second Federal Reserve District, which includes New York State, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico and the U.S. Virgin Islands. Though it serves a geographically small area compared with those of other Federal Reserve Banks, the New York Fed is the largest Reserve Bank in terms of assets and volume of activity. The New York Fed has several unique responsibilities as part of the Federal Reserve System, including conducting open market operations to execute monetary policy on behalf of the FOMC, acting as the fiscal agent of the U.S. Treasury, operating Fedwire, and providing banking and clearing services to foreign central banks, governments and international agencies.

Contact
Suzanne Elio
(212) 720-6449
suzanne.elio@ny.frb.org

Andrea Priest
(212) 720-6139
Andrea.Priest@ny.frb.org

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