| January
24. 2006
Contact: Thomas L. Lavelle, Assistant Vice President
and Public Information Officer, 617-973-3647
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Boston --
The Federal Reserve Bank of Boston announced a new
Chair and Deputy Chair to the Board of Directors,
and two new members of the Board today.
Dr. Blenda
Wilson was named Chair. She is President and CEO
of the Nellie Mae Education Foundation, Quincy, Massachusetts.
Dr. Lisa M. Lynch was named
Deputy Chair. She is the William L. Clayton Professor
of International Economic Affairs at the Fletcher
School of Law and Diplomacy at Tufts University.
Michael T. Wedge was elected
to a Class B Directorship. Mr. Wedge is President,
CEO and Director of BJ’s Wholesale
Club.
Kathleen C. Marcum was elected
a Class A Director. She is President, CEO and Director
of the Millbury National Bank.
The balance of the
Board includes:
Samuel O. Thier, M.D. is a
Class C Director of the Bank. He is the former President
and CEO of Partners HealthCare System, Inc. Dr. Thier
is a Professor of Medicine and Professor of Health
Care Policy at Harvard Medical School.
Robert K.
Kraft is a Class B Director. He is Founder and Chairman
of the Massachusetts-based Kraft Group of Companies.
Kirk P. Pond, a Class B Director
of the Bank, is Chairman, President, and CEO of Fairchild
Semiconductor International, based in Portland, Maine.
Ronald E. Logue is a Class
A Director of the Bank. He is the Chairman and CEO
of State Street Corporation.
Peter A. Blyberg¸ a Class A Director, is President
and CEO of Union Trust Company and its holding company,
Union Bankshares in Ellsworth, Maine.
The Federal Reserve
Act requires that each Reserve Bank have nine directors.
Three Class A directors represent member banks in the
district; three Class B directors and three Class C
directors are selected with due consideration to the
interests of agriculture, commerce, industry, services,
labor, and consumers. Members banks elect Class A and
Class B directors. The System's Board of Governors
in Washington, D.C. appoints Class C directors, and
from this group designates the Chairman and Deputy
Chairman.
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