Press Release
New York Fed Announces Creation of Upstate New York Regional Advisory Board
December 22, 2008

NEW YORK – The Federal Reserve Bank of New York today announced the establishment of the Upstate New York Regional Advisory Board. The 10-member board comprised of prominent business and community leaders from the broader upstate New York region, including the Albany Capital area, will provide the New York Fed with financial and economic information on conditions in their respective industries and the upstate New York region.

Board members will serve three-year terms, which may be extended, and will meet with the Bank’s senior leadership three times per year. Alphonso O'Neil-White, President and CEO, HealthNow New York Inc., will serve as the first chairman of the Board. Inaugural Board members include:

  • Alphonso O’Neil-White, President & CEO, HealthNow New York Inc., Buffalo, Chairman
  • Thomas D’Ambra, Chairman & CEO, Albany Molecular, Albany
  • Irwin Davis, President & CEO, Metropolitan Development Foundation of Syracuse and Central New York, Inc., Syracuse
  • Jonathan Judge, President & CEO, Paychex Inc., Rochester
  • James P. Laurito, President & CEO, New York State Electric & Gas, Rochester Electric & Gas, Rochester
  • Robert S. Sands, President & CEO, Constellation Brands, Inc., Fairport
  • Joel Seligman, President, University of Rochester, Rochester
  • Julie Shimer, President & CEO, WelchAllyn, Skaneateles Falls
  • Michele D. Trolli, Executive Vice President & Chief Information Officer, M&T Bank, Buffalo
  • Kim J. Zuber, Co-Owner, Zuber Farms, LLC, Churchville

The Board will combine insights of former members of the Buffalo Branch’s Board of Directors with other prominent business leaders, thus strengthening the Bank’s relationships in the greater upstate New York region. Information exchanged through the Board will ensure that policymakers at the New York Fed continue to receive economic and financial intelligence from an upstate New York perspective.

Creation of the Upstate New York Regional Advisory Board supports the Bank’s regional strategy and follows the restructuring of the Bank’s operations and its decision to close the New York Fed’s Buffalo Branch effective October 31, 2008. This reallocation of resources is consistent with the Bank’s goal to enhance analysis and outreach across the Second District.

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