Press Release
New York Fed Names Eight Senior Vice Presidents and 13 Vice Presidents
January 11, 2008

NEW YORK – The Federal Reserve Bank of New York’s board of directors has approved the promotion of eight senior vice presidents and 13 vice presidents.

Anne F. Baum has been promoted to senior vice president in the treasury auction system project, Markets Group. She had been a vice president since June 2001 and an assistant vice president in the treasury auction staff since September 1998.

In January 1995, Ms. Baum was named an officer of the Bank and assigned to the strategic planning and support staff, Financial Services Group. She joined the bank in August 1984 as an assistant supervisor in the savings bond department.

Ms. Baum holds a B.A. degree from George Washington University and an M.P.A. degree from New York University.

Lucinda M. Brickler has been promoted to senior vice president in the payments policy function, Executive Office. She had been a vice president since July 2006 and an assistant vice president since July 2005 in the same area.

She joined the Bank in March 1995 as an operations support analyst in the Wholesale Product Office, transferring from the Federal Reserve Bank of Minneapolis. She was named an officer of the New York Fed in June 2000. She resigned from the Bank in October 2000 to accept a position as vice president, global treasury at Merrill Lynch. Prior to joining the Bank in July 2005, Ms. Brickler was a freelance consultant for Deloitte & Touche Emerging Markets Group in Mexico City from 2004 to 2005.

Ms. Brickler holds a B.S. degree and an M.B.A from the University of Wisconsin.

Homer C. Hill,
III has been promoted to senior vice president in the relationship management function, Bank Supervision Group. He had been a vice president of relationship management function since January 2004 and an assistant vice president since December 2001, both in the same area.

In June 1999, Mr. Hill was appointed an officer of the bank in the financial examinations function and in May 2000, he was assigned to the relationship management function. Mr. Hill joined the bank in July 1988 as an assistant bank examiner.

Mr. Hill holds a B.A. degree from Columbia University.

R. Spence Hilton
has been promoted to senior vice president in the domestic reserves management function, Markets Group. He had been a vice president since June 2001 and an assistant vice president in the same area since December 1996.

In December 1993, Mr. Hilton was named an officer of the Bank in the open market department where he had been assigned since March 1990. He joined the Bank in November 1981 as an economist in the international research department.

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

Lola S. Judge
has been promoted to senior vice president in the real estate and general services function, Corporate Group. She had been a vice president in the same area since September 2007. Prior to that she was a vice president in the cash and custody function since December 2004 and the check function, Financial Services Group, since December 2002. She served as the East Rutherford Regional Check Manager from January 2003 until December 2004.

In December 1999, she was named an officer of the Bank and assigned to the check high speed image project and in July 2001 was promoted to the assistant vice president. Ms. Judge joined the Bank in June 1994 as a management information analyst.

Ms. Judge holds a B.S. degree from Tufts University and an M.B.A. from Manhattan College.

Steven J. Manzari
has been promoted to senior vice president in the market and liquidity risk department, Bank Supervision Group. He had been a vice president since April 2006 in the same area and was appointed as an officer of the Bank in December 1997. He joined the Bank in August 1992. Mr. Manzari resigned from the Bank in January 2001 to accept a position as chief financial officer at Scinto Capital and returned to the Bank Supervision Group in 2006.

Mr. Manzari holds a B.A. degree from Hamilton College and an M.B.A from Cornell University.

Richard W. Peach
has been promoted to senior vice president in the macroeconomics and monetary studies function, Research and Statistics Group. He had been a vice president since June 1998 and an assistant vice president in the same area since December 1996.

In May 1994, Mr. Peach was named an officer of the Bank. He joined the Bank in June 1992 as a senior economist in the business conditions function.

Mr. Peach holds a B.S. degree from Pennsylvania State University and an M.A. and Ph.D from the University of Maryland.

Simon M. Potter
has been promoted to senior vice president in the macroeconomics and monetary studies function, Research and Statistics Group. He had been a vice president since January 2007 and an assistant vice president in the same area since June 2005.
In January 2004, Mr. Potter was named an officer of the Bank and assigned to the domestic research function. He joined the Bank in June 1998 as an economist in the same area.

Mr. Potter holds a B.A. degree and an M.Phil degree from Oxford University, United Kingdom and a Ph.D. from the University of Wisconsin.

Maria Grace Ambrosio
has been promoted to vice president in the financial management and discount department, Markets Group. She had been an assistant vice president in the same area since June 2003.

In June 1997, Ms. Ambrosio was named an officer of the Bank and assigned to the accounting and control staff. She joined the Bank in April 1996 as a financial and market specialist.

Ms. Ambrosio is a Certified Public Accountant and holds a B.B.A. degree from Pace University.

Michael J. Burk
has been promoted to vice president in the automation services, Markets Group. He had been an assistant vice president since January 2004 in the treasury auction support department.

In June 1999, Mr. Burk was named an officer of the Bank and assigned to the administrative and human resources systems divisions. He joined the Bank in January 1989 as a systems analyst in the data systems department.

Mr. Burke holds a B.S. degree from Rider College and an M.B.A. from Fordham University.

Margaret G. Carmody
has been promoted to vice president in the public information and resource management department, Executive Office. She had been an assistant vice president in the same area since June 2001.

In December 1997, Ms. Carmody was named an officer of the Bank and assigned to the public information department. She joined the Bank in July 1969 and was assigned to the personnel department.

Ms. Carmody holds a B.B.A. degree from Pace University.

Shuet H. Dong
has been promoted to vice president in the electronic payments and markets systems development department, Automation and Systems Services Group. She had been an assistant vice president in the same area since January 2003.

In December 1996, Ms. Dong was named an officer of the Bank and assigned to the electronic payments staff. She joined the Bank in July 1975 as a research assistant in the domestic research department.

Ms. Dong holds a B.S. degree from Brooklyn College.

David A. Duttenhofer, Jr.
has been promoted to vice president in the international cash function, Financial Services Group. He had been an assistant vice president since December 1999, working in a variety of capacities in the Markets Group until he joined the Financial Service Group in 20003.

In June 1997, Mr. Duttenhofer was named officer of the Bank and assigned to the strategic development staff, Markets Group. He joined the Bank in July 1992 as a financial analyst in the bank analysis department, and joined the foreign exchange department of the Markets Group in 1993.

Mr. Duttenhofer holds a B.B.A. degree from the University of Michigan and an M.B.A. from the University of Chicago.

Cheryl A. Gleason has been promoted to vice president in the internal communication department, Executive Office. She had been an assistant vice president in the same area since July 2006 and in the E-Business Office since January 2004.

In June 2000, Ms. Gleason was named an officer of the Bank and assigned to the Bank Supervision Group and reassigned in April 2001 to the E-Business Office. She joined the Bank in September 1990 as a bank examiner. Ms. Gleason was granted a leave of absence from February 1997 to June 2000 to work at the Bank for International Settlements, Basel, Switzerland.

Ms. Gleason holds a B.A. degree from the University of Virginia.

Patricia Hilt
has been promoted to vice president in the international treasury services, Financial Services Group. She had been an assistant vice president since July 2004 in the same area.

In January 1987, Ms. Hilt was named an officer of the Bank and assigned to the securities transfer department. Ms. Hilt held positions in the funds transfer department, electronic payments and fiscal services functions and business development office. She joined the Bank in October 1969.

Ms. Hilt holds a B.A. degree from St. John’s University and an M.A. from Brooklyn College.

Robert G. Kraus
has been promoted to vice president in the cash and custody department, Financial Services Group. He had been assistant vice president since January 2003 in the same area.

In October 1991, Mr. Kraus was named an officer of the Bank and assigned to the cash function. He joined the bank in July 1974 as a management information analyst in the management information department.

Mr. Kraus holds a B.S. degree from Upsala College.

Carl P. Lundgren
has been promoted to vice president in the electronic payments department, Financial Services Group. He had been an assistant vice president since January 2005 in the same area.

In June 2000, Mr. Lundgren was named an officer of the Bank and assigned to the electronic payments function. He joined the Bank in May 1984 as an administrative trainee in the fiscal services function, Financial Service Group.

Mr. Lundgren holds a B.S. degree from the State University of New York at Buffalo.

James M. Mahoney
has been promoted to vice president in the models and methodologies department, Bank Supervision Group. He had been an assistant vice president since January 2007 in the same area.

In July 2005, Mr. Mahoney was named an officer of the Bank and assigned to the models and methodologies department. He joined the bank in September 1993 as an economist in the international financial markets department.

Mr. Mahoney holds a B.A. degree from the University of Pennsylvania and an M.A. and Ph.D. from the Wharton School, University of Pennsylvania.

Margaret M. McConnell
has been promoted to vice president in the Chief of Staff’s Office, Executive Office. She had been an assistant vice president and deputy chief of staff since July 2007 and assistant vice president in the macroeconomics and monetary studies function since March 2006.

In January 2006, Ms. McConnell was named officer of the Bank and assigned to the macroeconomics and monetary studies function, Research and Statistics Group. She joined the bank in September 1996 as an economist in the domestic research function.

Ms. McConnell holds a B.A. and an M.S. from the University of Delaware and a Ph.D. from Ohio State University.

Thomas P. Reilly
has been promoted to vice president in the real estate and general services function, Corporate Group. He had been an assistant vice president in the same area since July 2005.

In January 2004, Mr. Reilly was named an officer of the Bank and assigned to the finance and administration department. He joined the bank in March 1995 as a facilities engineer and was assigned to the building services administration staff.

Mr. Reilly holds a B.S. degree from Manhattan College and an M.B.A. degree from Pace University.

Til Schuermann
has been promoted to vice president in the financial intermediation function, Research and Statistics Group. He had been an assistant vice president in the same area since January 2007.

In June 2005, Mr. Schuermann was named an officer of the Bank in the banking studies function. He joined the bank in May 2001 as a senior economist in the same area.

Mr. Schermann holds a B.A. degree from the University of California, Berkeley and an M.S. and a Ph.D. from the University of Pennsylvania.