{"id":13837,"date":"2026-01-10T08:06:42","date_gmt":"2026-01-10T08:06:42","guid":{"rendered":"https:\/\/readtrends.com\/en\/fed-reserve-bank-chairs-2026\/"},"modified":"2026-01-10T08:06:42","modified_gmt":"2026-01-10T08:06:42","slug":"fed-reserve-bank-chairs-2026","status":"publish","type":"post","link":"https:\/\/readtrends.com\/en\/fed-reserve-bank-chairs-2026\/","title":{"rendered":"Federal Reserve Board names chairs and deputy chairs of 12 Reserve Banks for 2026"},"content":{"rendered":"
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Lead:<\/strong> On Friday, the Federal Reserve Board designated the chairs and deputy chairs for the 12 regional Federal Reserve Banks for the 2026 term. The appointments follow the Board\u2019s statutory process for selecting leaders from the three public directors it appoints in each district. The list published by the Board identifies both newly named and reappointed (renamed) chairs and deputies, including leaders from finance, healthcare, manufacturing, nonprofit and higher-education backgrounds. The designations set the leadership roster for the Reserve Banks heading into 2026.<\/p>\n

Key Takeaways<\/h2>\n
    \n
  • The Board designated chairs and deputy chairs for all 12 Federal Reserve Banks on January 9, 2026, covering New York, Boston, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas and San Francisco.<\/li>\n
  • Several leaders were “renamed” to continue in their roles, including Pat Wang (New York), Rajiv J. Shah, M.D. (New York, Deputy), Lisa M. Lawson (Richmond), Gregory A. Haile (Atlanta), Jennifer F. Scanlon (Chicago), Claudia Aguirre (Dallas), Russell A. Childs (San Francisco) and Pallavi Mehta Wahi (San Francisco, Deputy).<\/li>\n
  • Newly named chairs include Lizanne Kindler (Boston), William Lo (Philadelphia), Richard J. Kramer (Cleveland), Lal Karsanbhai (St. Louis), Paul D. Williams (Minneapolis) and Jandel Allen-Davis, M.D. (Kansas City).<\/li>\n
  • Deputy chairs newly named include Tim Sweeney (Boston), Kisha Hortman Hawthorne (Philadelphia), Fred Hargett (Cleveland), Halsey M. Cook (Richmond), Maurice Smith (Chicago), Gregory A. Heckman (St. Louis), Jay Debertin (Minneapolis), Paul Maass (Kansas City) and Gary C. Kelly (Dallas).<\/li>\n
  • The appointees represent a mix of sectors\u2014insurance, healthcare, manufacturing, philanthropy, higher education, nonprofit community services and agribusiness\u2014reflecting the statutory aim of broad regional representation.<\/li>\n
  • The Board\u2019s action is internal to the Reserve Banks\u2019 governance; chairs and deputy chairs lead each nine-member regional board composed of public and banking directors.<\/li>\n<\/ul>\n

    Background<\/h2>\n

    Each of the 12 Federal Reserve Banks is governed locally by a nine-member board of directors that mixes private-sector and public representatives. By statute, the Board of Governors in Washington appoints three public directors in each district; those appointees provide a channel for the public perspective in regional governance. Each year, among the Board\u2019s three appointees, one is designated chair and a second is designated deputy chair to lead the local board.<\/p>\n

    The role of chair and deputy chair on a Reserve Bank board is primarily governance and oversight: they preside over board meetings, facilitate regional outreach and help set agendas for the Bank\u2019s community and business engagement. While Reserve Bank presidents handle monetary-policy implementation and regional economic reporting, board chairs play a continuing role in ensuring the boards fulfill supervisory and community-representation responsibilities. The composition of these local boards is watched by markets and stakeholders for indications of regional priorities and sectoral perspectives.<\/p>\n

    Main Event<\/h2>\n

    On January 9, 2026, the Board announced named and renamed appointments across all 12 Reserve Banks. In Boston, Lizanne Kindler, executive chair and CEO of KnitWell Group in Hingham, Massachusetts, was named chair, while Tim Sweeney, president and CEO of Liberty Mutual Insurance in Boston, was named deputy chair. In New York, Pat Wang (Healthfirst) and Rajiv J. Shah, M.D. (The Rockefeller Foundation) were both renewed in their roles as chair and deputy chair, respectively.<\/p>\n

    At Philadelphia, William Lo, CEO of Crystal Steel Fabricators, Inc. in Delmar, Delaware, was named chair, with Kisha Hortman Hawthorne of Children\u2019s Hospital of Philadelphia named deputy chair. Cleveland\u2019s board will be led by Richard J. Kramer, former Goodyear chairman and CEO, as chair and Fred Hargett, CFO at University of Pittsburgh Medical Center, as deputy.<\/p>\n

    Across other districts, Richmond retained Lisa M. Lawson as chair and Halsey M. Cook as deputy; Atlanta kept Gregory A. Haile and James O. Etheredge in renamed slots; Chicago\u2019s leadership was renewed for Jennifer F. Scanlon with Maurice Smith as deputy; St. Louis named Lal Karsanbhai chair and Gregory A. Heckman deputy; Minneapolis named Paul D. Williams chair and Jay Debertin deputy; Kansas City named Jandel Allen-Davis, M.D. chair and Paul Maass deputy; Dallas renamed Claudia Aguirre chair with Gary C. Kelly deputy; and San Francisco renamed Russell A. Childs chair and Pallavi Mehta Wahi deputy.<\/p>\n

    Analysis & Implications<\/h2>\n

    The yearly designation is procedural but meaningful: chairs and deputy chairs shape a Reserve Bank\u2019s engagement with local business, labor, civic leaders and community organizations. The mix of appointees\u2014spanning nonprofit leaders, corporate executives and healthcare administrators\u2014signals the Board\u2019s sustained emphasis on diverse regional perspectives in governance. That diversity can influence the Reserve Banks\u2019 local research priorities, community development initiatives and supervisory interactions.<\/p>\n

    Because the Board of Governors appoints the public directors and selects chair and deputy chair from among them, these designations reflect both regional candidates and the Board\u2019s assessment of who can best lead district governance in the coming year. Reappointments (renamings) provide continuity; new appointments can mark shifts in emphasis\u2014for example, greater attention to workforce development, healthcare sector dynamics, or manufacturing supply-chain concerns depending on directors\u2019 backgrounds.<\/p>\n

    Practically, these leadership roles do not change monetary policy decisions directly; policy remains the purview of the Federal Open Market Committee and Reserve Bank presidents. However, the chairs and deputy chairs can affect the tone and focus of regional intelligence that informs policy deliberations. Observers looking for regional sentiment ahead of policy meetings may read these leadership slates for clues about local priorities and outreach strategies.<\/p>\n

    Comparison & Data<\/h2>\n
    \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
    Reserve Bank<\/th>\nChair (2026)<\/th>\nDeputy Chair (2026)<\/th>\n<\/tr>\n<\/thead>\n
    Boston<\/td>\nLizanne Kindler \u2014 Executive Chair & CEO, KnitWell Group (Hingham, MA)<\/td>\nTim Sweeney \u2014 President, CEO & Chairman, Liberty Mutual Insurance (Boston, MA)<\/td>\n<\/tr>\n
    New York<\/td>\nPat Wang \u2014 President & CEO, Healthfirst (New York, NY)<\/td>\nRajiv J. Shah, M.D. \u2014 President, The Rockefeller Foundation (New York, NY)<\/td>\n<\/tr>\n
    Philadelphia<\/td>\nWilliam Lo \u2014 CEO, Crystal Steel Fabricators, Inc. (Delmar, DE)<\/td>\nKisha Hortman Hawthorne \u2014 SVP & COO, Care Network & Behavioral Health, CHOP (Philadelphia, PA)<\/td>\n<\/tr>\n
    Cleveland<\/td>\nRichard J. Kramer \u2014 Former Chairman, CEO & President, The Goodyear Tire & Rubber Co. (Akron, OH)<\/td>\nFred Hargett \u2014 EVP & CFO, University of Pittsburgh Medical Center (Pittsburgh, PA)<\/td>\n<\/tr>\n
    Richmond<\/td>\nLisa M. Lawson \u2014 President & CEO, The Annie E. Casey Foundation (Baltimore, MD)<\/td>\nHalsey M. Cook \u2014 President & CEO, Milliken & Company (Spartanburg, SC)<\/td>\n<\/tr>\n
    Atlanta<\/td>\nGregory A. Haile \u2014 CEO, Upwardly Global; Former President, Broward College (Fort Lauderdale, FL)<\/td>\nJames O. Etheredge \u2014 Former CEO, Accenture North America (Atlanta, GA)<\/td>\n<\/tr>\n
    Chicago<\/td>\nJennifer F. Scanlon \u2014 President & CEO, UL Solutions Inc. (Northbrook, IL)<\/td>\nMaurice Smith \u2014 Chairman, President & CEO, Health Care Service Corporation (Chicago, IL)<\/td>\n<\/tr>\n
    St. Louis<\/td>\nLal Karsanbhai \u2014 President & CEO, Emerson Electric Co. (St. Louis, MO)<\/td>\nGregory A. Heckman \u2014 CEO, Bunge Global SA (Chesterfield, MO)<\/td>\n<\/tr>\n
    Minneapolis<\/td>\nPaul D. Williams \u2014 Founder & Principal Consultant, Williams Community Supports; Retired CEO, Project for Pride in Living (Minneapolis, MN)<\/td>\nJay Debertin \u2014 President & CEO, CHS, Inc. (Inver Grove Heights, MN)<\/td>\n<\/tr>\n
    Kansas City<\/td>\nJandel Allen-Davis, M.D. \u2014 President & CEO, Craig Hospital (Englewood, CO)<\/td>\nPaul Maass \u2014 CEO, Scoular (Omaha, NE)<\/td>\n<\/tr>\n
    Dallas<\/td>\nClaudia Aguirre \u2014 President & CEO, BakerRipley (Houston, TX)<\/td>\nGary C. Kelly \u2014 Chairman Emeritus, Southwest Airlines (Dallas, TX)<\/td>\n<\/tr>\n
    San Francisco<\/td>\nRussell A. Childs \u2014 CEO & President, SkyWest, Inc. (St. George, UT)<\/td>\nPallavi Mehta Wahi \u2014 Chair, Western U.S. Strategic Growth & Seattle Office Head, Arnold & Porter (Seattle, WA)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n

    The table summarizes the Board\u2019s designations, preserving full names, primary titles and home cities as provided in the Board\u2019s announcement. This roster shows sectoral variety that the Board seeks in regional governance.<\/p>\n

    Reactions & Quotes<\/h2>\n

    Below are brief excerpts from the Federal Reserve Board announcement and context that clarify the legal and administrative basis for the designations.<\/p>\n

    \n

    “By law, the Board of Governors in Washington appoints three of these directors to represent the public in the district and each year designates one of its appointees as chair and a second as deputy chair.”<\/p>\n

    Federal Reserve Board (official press release)<\/cite>\n<\/p><\/blockquote>\n

    This sentence explains the statutory mechanism behind the selections: the Board of Governors appoints public directors and then designates leadership among them annually. That choice is administrative but important for local governance continuity.<\/p>\n

    \n

    “Following are the names of the chairs and deputy chairs designated by the Board for 2026.”<\/p>\n

    Federal Reserve Board (official press release)<\/cite>\n<\/p><\/blockquote>\n

    The press release\u2019s list is the authoritative source of the names and titles. Stakeholders and the public rely on the Board\u2019s published roster when assessing regional representation and outreach priorities.<\/p>\n