Finance | Insurance 2023: THOMAS I. BARKIN

PRESIDENT AND CEO, FEDERAL RESERVE BANK OF RICHMOND, RICHMOND

Published August 30, 2023 by Virginia Business

As president and CEO of the Federal Reserve Bank of Richmond, Barkin serves as an alternate on the Fed’s interest-setting Federal Open Market Committee and will be a voting member next year. In his position as head of one of 12 regional Fed banks, he is also responsible for the Fed’s information technology.

In June, weeks before the Fed raised rates to a 22-year high in its ongoing attempts to fight inflation, Barkin told reporters in Richmond that he worried that continuing hikes “might well lead to a greater set of people feeling left behind.” During his tenure, Barkin has advocated for disadvantaged rural communities in the Fed’s Fifth District, which covers South Carolina, North Carolina, Virginia, Washington, D.C., West Virginia and Maryland.

Barkin previously served as chief financial officer and chief risk officer for global consultancy McKinsey & Co. He also served on the board of directors for the Federal Reserve Bank of Atlanta, chairing the board for a year.

Additionally, Barkin has served on the Emory University board of trustees since 2014 and is on the board of the Community Foundation for a greater Richmond. Barkin attended Harvard University, earning bachelor’s, MBA and law degrees.

    Subscribe to Virginia Business.   Get our daily e-newsletter.