| Richmond Fed's new boss
Virginia Business
August 2004
After
years of personnel stability, the Federal Reserve Bank
of Richmond is going through a bit of a shakeup. Taking
over this month as its new president is Jeffrey M. Lacker,
who succeeds the retiring Al Broaddus. Broaddus joined
the institution in 1970 and became president in 1993,
serving a total of 34 years.
Lacker, 48, is the Richmond Fed’s former senior
vice president and director of research. The University
of Wisconsin alum started in the president’s position
on Aug. 1. He joined the Richmond bank in 1989 as an
economist.
Meanwhile, Vice President Kemper W. Baker Jr., a Fed
executive since 1974, announced his retirement. Bud
Martindale, who worked at the Richmond bank before taking
a position with the Reserve System’s Board of
Governors in Washington, D.C., will return to Richmond
to be the new vice president and act as controller of
the Financial Management Group.
The Federal Reserve Bank of Richmond, one of 12 District
Reserve Banks, serves D.C., Maryland, North Carolina,
South Carolina, Virginia and most of West Virginia.
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