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

Talbot’s CEO and Coldwater Creek Chair Lizanne Kindler is the newest member of the Federal Reserve Bank of Boston’s board of directors, the bank announced on Jan. 10. Greenfield Cooperative Bank’s Michael Tucker is among the members who will return to the board.

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 with consideration to the interests of agriculture, commerce, industry, services, labor and consumers.

Member banks elect Class A and Class B directors. 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.

Phillip Clay, professor emeritus of city planning at MIT, and Christina Hull Paxson, president of Brown University, are the Class C directors who will continue to serve as the board’s chair and deputy chair, respectively.

The returning Class A directors are Tucker, president and CEO of Greenfield Cooperative Bank and its parent company, Greenfield Bancorp MHC; Chandler Howard, the recently retired president and CEO of Connecticut-based Liberty Bank; and Bruce Van Saun, the chairman and CEO of Citizens Financial Group.

Kindler, who will serve as a Class B director, is long-time retail executive. She is an expert-in-residence for Babson College’s WIN (Women Innovating Now) Lab, an accelerator for women entrepreneurs. She is also a member of the advisory board of the Martin J. Whitman School of Management at Syracuse University.

The returning Class B directors are Roger W. Crandall, chairman, president and CEO of Massachusetts Mutual Life Insurance Co., and Kimberly Sherman Stamler, president of Related Beal.

Along with Clay and Paxson, the other Class C director is Kathleen “Kate” E. Walsh, president and CEO of Boston Medical Center.

John R. Ciulla, president and chief executive officer of Webster Financial Corporation, will again serve as the Boston Fed’s member of the Federal Reserve System’s Federal Advisory Council.The FAC consists of one banker from each of the 12 Federal Reserve districts and meets quarterly to discuss business and financial conditions with the Federal Reserve Board of Governors in Washington, D.C.

Boston Fed Announces Board of Directors

by Banker & Tradesman time to read: 1 min