No. 2237

JULY 3, 2001

NEW YORK FED NAMES THREE VPs

NEW YORK - The Federal Reserve Bank of New York announced that its board of directors has approved the promotion of three vice presidents.

Anne F. Baum has been promoted to vice president of treasury auctions in the markets group. She had been assistant vice president of treasury auctions since September 1998.

Ms. Baum joined the bank in 1984 as an assistant supervisor in the savings bond department of the fiscal services function where she subsequentlyheld various supervisory positions. In December 1994, she was named an officer of the bank and assigned to manage the newly created strategic planning and support staff in the banking services group. In October 1997, she was assigned to the Markets group. Ms. Baum holds a B.A. degree from George Washington Universityand a M.P.A. degree from New York University.

Linda S. Goldberg has been promoted to vice president of international research in the research and market analysis group. She had been assistant vice president of international research since June 1998.

Ms. Goldberg joined the bank in September 1995 as a senior economist in the international macroeconomics department. She was appointed an officer of the bank assigned to the international research function in June 1996.

Prior to joining the bank, Ms. Goldberg was a professor of economics for eight years at New York University and the University of Pennsylvania.

Ms. Goldberg holds a B.A. degree from Queens College and an M.A. and Ph.D. degree from Princeton University.

R. Spence Hilton has been promoted to vice president of domestic reserves management in the markets group. He had been assistant vice president of domestic reserves management since December 1996.

Mr. Hilton joined the bank in November 1981 as an economist B in the industrial economics division of the international research department. Mr. Hilton was appointed an officer of the bank and assigned to the open market department in December 1993. In December 1995, he was named coordinator of the domestic money markets staff, domestic open market operations.

Mr. Hilton holds a B.A. degree from the University of Illinois and an M.A. degree and a Ph.D. degree from the University of Wisconsin.