The headquarters of the Federal Reserve Bank of Boston. Photo Courtesy of Fox-orian / CC BY-SA 3.0

Several new faces are joining the Federal Reserve Bank of Boston’s board of directors on Jan. 1.

Christina Hull Paxson, president of Brown University, will serve as the new chair of the board after serving as deputy chair since 2019. Corey Thomas, chair and chief executive officer of Rapid7, will join the board and serve as deputy chair.

Additionally, Jeanne A. Hulit, president and chief executive officer of Maine Community Bancorp, and Lauren A. Smith, chief health equity and strategy officer for the CDC Foundation, have been elected to join the board.

John R. Ciulla, president and chief executive officer of Webster Financial Corp., will again serve as the Boston Fed’s member of the Federal Reserve System’s Federal Advisory Council.

The Federal Reserve Act requires that each Reserve Bank have nine directors. Three “Class A” directors represent member banks in each district, three “Class B” directors represent the public and three “Class C” directors represent the public but focus on the interests of agriculture, commerce, industry, services, labor and consumers. Directors in the first two categories are elected by the Boston Fed’s member banks, while the Board of Governors of the Federal Reserve System in Washington, D.C. appoints Class C directors and designates the chair and deputy chair from this group.

The other seven members of the board for 2021 are:

• Deputy Chair Corey Thomas, Class C director and CEO of Boston cybersecurity firm Rapid7
• Chandler Howard, Class A director and former president and CEO of Connecticut-based Liberty Bank
• Bruce Van Saun, Class A director and CEO of Citizens Financial Group
• Lizanne Kinder, Class B director and CEO of women’s apparel retailer Talbots
• Kimberly Sherman Stamler, Class B director and president of Related Beal
• Dr. Lauren Smith, Class B director and chief health equity and strategy officer for the Atlanta-based health charity CDC Foundation
• Roger Crandall, Class C director and chairman, president and CEO of MassMutual