Press Release
New York Fed Names Seven Senior Vice Presidents and 11 Vice Presidents
January 21, 2011
NEW YORK – The Federal Reserve Bank of New York announced that its board of directors has approved the promotion of seven senior vice presidents and 11 vice presidents.

Maria Grace C. Ambrosio has been promoted to senior vice president in the financial management function in the Corporate Group. She has been a vice president and principal accounting officer since October 2010 in the Corporate Group. She was appointed vice president in the Markets Group in January 2008.

Ms. Ambrosio joined the Bank in April 1996 as a financial and market specialist in the Markets Group. In June 1997 she was named an officer and assigned to the accounting and control staff. She was promoted to assistant vice president and assigned to the financial reporting management department in the group shared services function in June 2003.

Ms. Ambrosio holds a bachelor’s degree from Pace University and is a certified public accountant.

Jean Bolwell has been promoted to senior vice president in the application development function of the Technology Services Group. She has been a vice president in the same area since January 2006. She was appointed assistant vice president in June 2002.

Ms. Bolwell joined the Bank in September 1969 and was assigned to the Human Resources Group and in June 1999 she was named an officer and assigned to the Technology Services Group.

Timothy J. Fogarty has been promoted to senior vice president in the central bank and international account services of the Markets Group. He has been co-head of the function since January 2009, managing the provision of banking services to the Bank’s foreign central bank customers and supporting the monetary policy operations of the Bank. He currently also heads the function’s offices in Richmond, Virginia.

Mr. Fogarty joined the Bank in June 1980 in the foreign department and after management assignments in account administration; in payment, securities and investment services; and in telecommunication/data processing, he was named an officer in January 1995 assigned to the central bank and international account services department. Mr. Fogarty was promoted to assistant vice president in 2000, and to vice president in 2008, continuing his assignment in the area, subsequently renamed the central bank and international account services function.

Mr. Fogarty holds a bachelor’s degree from Manhattan College.

Caroline Frawley has been promoted to senior vice president in the relationship management function of the Bank Supervision Group. She had been a vice president in the large complex banking organizations department, relationship management function since February 2008. She was appointed vice president in the risk management function in July 2004.

Ms. Frawley joined the Bank in July 1985 as an assistant bank examiner and in September 1995 she was named an officer and assigned to the credit and risk management department. In December 2001, she was promoted to assistant vice president and assigned to the risk management function in the credit risk department.

Ms. Frawley holds a bachelor’s degree from Iona College.

Scott R. Gurba has been promoted to senior vice president in the management information function of the Corporate Group where he joined as a vice president in February 2007.

Prior to joining the Bank, Mr. Gurba was the vice president of finance and head of global pricing at American Express Corporate Travel business.

Mr. Gurba holds a bachelor’s degree from Northern Arizona University and a master’s degree from Hofstra University.

Betty S. Lau has been promoted to senior vice president in the central bank and international account services (CBIAS) of the Markets Group. She had been a vice president and co-head of CBIAS since January 2009. She was also named in January 2010 as one of the Bank’s Equal Employment Opportunity (EEO) officers.

Ms. Lau joined the Bank in May 1978, assigned to the Buffalo branch. She was named an officer in May 1995 and assigned to the Financial Services Group. In June 1998 she was promoted to assistant vice president. She was appointed vice president of the customer account processing system, Markets Group in September 2007. In August 2008, she was temporarily relocated to the Federal Reserve Bank of Richmond where she established the CBIAS (Richmond) operations and returned to the Bank in May 2009.

Ms. Lau holds a bachelor’s degree and a master’s degree from the University of Bridgeport.

Clinton D. Lively has been promoted to senior vice president and head of the market risk department in the risk management function of the Bank Supervision Group where he joined as a vice president in August 2008.

Prior to joining the Bank, Mr. Lively was a senior managing director and partner at Bankers Trust Company.

Mr. Lively holds a bachelor’s degree from St. John’s College in Annapolis, Maryland, and a master’s degree from both the University of Virginia and the University of Chicago Graduate School of Business.

Richard I. Barrett has been promoted to vice president in the Technology Services

Group as the operations director. He had been an assistant vice president in the Group’s engineering department since January 2010 and an officer for the network and infrastructure planning department since January 2008.

Mr. Barrett joined the Bank in July 1990 as an associate systems programmer and named an officer in January 2008.

Mr. Barrett has attended Nassau Community College and New York Institute of Technology.

Clive Blackwood has been promoted to vice president in the Audit Group. He had been an assistant vice president since January 2009 and officer since January 2007.

Mr. Blackwood joined the Bank in November 2005 as a senior audit technical specialist in the Audit Group. Prior to joining the Bank, he was a director/team leader at American Express.

Mr. Blackwood holds a bachelor’s degree from New York University. He also is a certified internal auditor (CIA), certified information systems auditor (CISA), certified financial services auditor (CFSA) and a certified bank auditor (CBA).

Ann M. Heron has been promoted to vice president in the Business Process Excellence (BPE) team of the Corporate Group. She had been an assistant vice president in the same area since July 2010. She was appointed an assistant vice president in the Financial Services Group in July 2004.

Ms. Heron joined the Bank in March 1989 as a management information analyst and was named an officer in December 1999.

Ms. Heron holds a bachelor’s degree from Montclair State College and is a graduate of the University of Wisconsin’s Graduate School of Banking.

Lisa M. Joniaux has been promoted to vice president in the relationship management function in the Bank Supervision Group. She had been assistant vice president since January 2009.

Ms. Joniaux joined the Bank in August 1993 as a bank examiner in the specialized examinations department and was named an officer in January 2008 and assigned to the large complex banking organizations department.

Ms. Joniaux holds an associate’s degree from Kingsborough Community College and a bachelor’s degree from Baruch College.

Alejandro A. Latorre has been promoted to vice president in the AIG relationship monitoring function of the Special Investments Management Group. He had been assistant vice president in the same area since November 2008.

Mr. Latorre joined the Bank in July 1996 as a research assistant and was named an officer in July 2004, assigned to the market and liquidity risk department in the Bank Supervision Group. In July 2006, Mr. Latorre was promoted to assistant vice president and assigned to the Markets Group, and in January 2008, he was named director of global markets, which had responsibility for the foreign exchange, foreign investments and domestic capital markets staff.

Mr. Latorre holds a bachelor’s degree from the State University of New York at Binghamton and a master’s in business administration, and a master’s in statistics both from the Stern School of Business at New York University.

Sean O’Malley has been promoted to vice president in the Legal Group. He had been an assistant vice president since January 2008.

Mr. O’Malley joined the Bank in February 1999 as a special investigator and was named an officer in January 2005. Prior to joining the Bank, Mr. O’Malley was a managing director at the corporate investigation firm Kroll Associates.

Mr. O’Malley holds a bachelor’s degree from the Long Island University. He also is a certified public accountant and certified fraud examiner.

Robert N. Sama has been promoted to vice president in the Protection department of the Legal Group. He had been an assistant vice president since July 2008 where he joined as an officer in February 2007.

Prior to joining the Bank, Mr. Sama was a program manager/assistant special agent-in-charge at the Federal Bureau of Investigation.

Mr. Sama holds a bachelor’s degree from Lafayette College and a master’s degree from Florida State University.

Margaret Saxenian has been promoted to vice president in the electronic payments function in the Financial Services Group. She is currently on a rotational assignment with electronic payments.

Ms. Saxenian joined the Bank in 1987 working in the internal audit department and named an officer in May 2006 and promoted to assistant vice president in January 2009.

Ms. Saxenian holds a bachelor’s degree from Dominican College and a master’s degree from Pace University. She graduated from the American Bankers Association Stonier Graduate School of Banking and is a certified internal auditor (CIA) and an anti-money laundering specialist (ACAMS).

Jean M. Stoloff has been promoted to vice president in the program management office of the Technology Services Group. She had been an assistant vice president in the same area since July 2009.

Ms. Stoloff joined the Bank in March 1986 as an assistant programmer in the data systems department. She left the Bank in March 1988 and returned in April 1989 as a senior programmer analyst and was named an officer in July 2004 and assigned to the business systems development department. In January 2008, Ms. Stoloff was promoted to assistant vice president.

Ms. Stoloff holds a bachelor’s degree from Seton Hall University.

Ronald P. Stroz has been promoted to vice president in the risk management function of the Bank Supervision Group. He had been an assistant vice president in the same area since October 2008.

Mr. Stroz joined the Bank in February 1996 as a bank examiner and was assigned to the financial examinations department. He was named an officer in January 2003 and was assigned to the risk management function. Mr. Stroz was promoted to assistant vice president in January 2006 and was assigned to the relationship management function in May 2008.

Mr. Stroz holds a bachelor’s degree from Rutgers University and is a certified public accountant.

Jennifer A. Wolgemuth has been promoted to vice president in the Legal Group. She had been an assistant vice president since July 2006.

Ms. Wolgemuth joined the Bank in August 2001 as an attorney and was named an officer in January 2004. Prior to the joining the Bank, she was a corporate associate at the law firm of Simpson Thacher & Bartlett.

Ms. Wolgemuth holds a bachelor’s degree from Mount Holyoke College and a juris doctorate from the University of Pennsylvania Law School.

Contact:
Deborah Kilroe
(212) 720-6143
(646) 720-6143
deborah.kilroe@ny.frb.org