CLEVELAND, Ohio, Jan. 15, 2016 (GLOBE NEWSWIRE) -- via PRWEB - The Federal Reserve Bank of Cleveland announced the following appointments and elections to its main office and branch boards of directors and to the Federal Advisory Council effective January 1, 2016.
Federal Reserve Bank of Cleveland
Christopher M. Connor, executive chairman, The Sherwin-Williams Company, Cleveland, Ohio, was reappointed chairman of the board for 2016. Connor has served as a director since 2011 and as chairman since 2015.
John P. Surma, retired chairman and chief executive officer, United States Steel Corporation, Pittsburgh, Pennsylvania, was reappointed deputy chairman of the board for 2016. Surma has served as a director since 2013 and as deputy chairman since 2015.
George S. Barrett, chairman and chief executive officer, Cardinal Health, Inc., Dublin, Ohio, was elected as a director.
Claude E. Davis, chief executive officer, First Financial Bancorp, Cincinnati, Ohio, was reelected to a second term as a director.
Dawne S. Hickton, former president and chief executive officer, RTI International Metals, Inc., Pittsburgh, Pennsylvania, was appointed as a director. Hickton served as a director of the Federal Reserve Bank of Cleveland, Pittsburgh Branch, from 2013 to 2015 and as chairman of the branch board in 2014 and 2015.
Beth E. Mooney, chairman and chief executive officer, KeyCorp, Cleveland, Ohio, was elected as a director.
Cincinnati Branch
Valarie L. Sheppard, senior vice president, comptroller and treasurer, The Procter & Gamble Company, Cincinnati, Ohio, was reappointed chairman of the board of the Federal Reserve Bank of Cleveland, Cincinnati Branch, for 2016. Sheppard has served as a director since 2014 and as chairman since 2015.
Tucker Ballinger, president and chief executive officer, Forcht Bank, N.A., Lexington, Kentucky, was appointed as a director.
Christopher C. Cole, chief executive officer, Intelligrated, Inc., Mason, Ohio, was reappointed as a director.
Pittsburgh Branch
Doris Carson Williams, president and chief executive officer, African American Chamber of Commerce of Western Pennsylvania, Pittsburgh, Pennsylvania, was appointed chairman of the board of the Federal Reserve Bank of Cleveland, Pittsburgh Branch, for 2016. She has been a director since 2014.
Stefani J. Pashman, chief executive officer, Three Rivers Workforce Investment Board, Pittsburgh, Pennsylvania, was appointed as a director.
Dmitri D. Shiry, managing partner, Deloitte LLP, Pittsburgh, Pennsylvania, was appointed as a director.
Federal Advisory Council
Paul G. Greig, chairman, president, and chief executive officer, FirstMerit Corporation, Akron, Ohio, was reappointed to a one-year term as the Fourth Federal Reserve District's representative on the Federal Advisory Council (FAC). Greig served as a director of the Federal Reserve Bank of Cleveland from 2011 to 2013, and he has served on the FAC since 2014.
The Federal Advisory Council comprises representatives of the banking industry from each of the 12 Federal Reserve Districts. The Council consults with and advises the Board of Governors of the Federal Reserve System on general business conditions and issues related to the financial services industry.
Reserve Bank Directors
Each Reserve Bank's main office has a nine-member board of directors. Three directors are elected by and representative of the member banks in each Federal Reserve District. The other six directors represent the general public, with due, but not exclusive, consideration to the interests of agriculture, commerce, industry, services, labor, and consumers. Of the six, three are elected by member banks, and three are appointed by the Federal Reserve's Board of Governors in Washington DC.
Main office directors' responsibilities include making recommendations to the Board of Governors regarding the Federal Reserve's discount rate on primary credit; providing information about regional business conditions; and overseeing the Bank's budget and finances.
Each Reserve Bank branch has a five- or seven-member board of directors whose members provide input regarding local business conditions and their respective industries. They also help to identify opportunities that connect the Federal Reserve to the general public.
For a complete list of the members of the boards of directors of the Federal Reserve Bank of Cleveland and its branches, click here.
Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that along with the Board of Governors in Washington DC comprise the Federal Reserve System. As part of the US central bank, the Cleveland Fed participates in the formulation of our nation's monetary policy, supervises banking organizations, provides payment and other services to financial institutions and to the US Treasury, and performs many activities that support Federal Reserve operations Systemwide. In addition, the Bank supports the well-being of communities across the Fourth Federal Reserve District through a wide array of research, outreach, and educational activities.
The Cleveland Fed, with branches in Cincinnati and Pittsburgh, serves an area that comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. For more information, go to http://www.clevelandfed.org or follow us on Facebook and Twitter.
This article was originally distributed on PRWeb. For the original version including any supplementary images or video, visit http://www.prweb.com/releases/2015/12/prweb13143294.htm