Federal Reserve Alert! Michael Held Resigns from the New York Fed


NEW YORK โ€“ The Federal Reserve Bank of New York today announced that Michael Held has decided to step down from his role as General Counsel and Head of the Legal Group. He will be leaving the Bank in June 2022 and in the interim will move to an advisor role to help facilitate a smooth transition. YoonHi Greene and James Bergin, both Deputy General Counsel, will co-lead the group until a successor is named.

โ€œFor two and a half decades, Mike has been a dedicated public servant whose efforts have had a meaningful impact supporting the New York Fedโ€™s mission,โ€ said John C. Williams, President and Chief Executive Officer of the New York Fed. โ€œWith sound judgment and deep expertise, Mike has leveraged his leadership skills to better the work that we do and how we do it. I want to thank him for his impressive career and the legacy that he leaves behind.โ€

As General Counsel, Mr. Held has been a member of the Bankโ€™s Executive Committee and has served as Deputy General Counsel of the Federal Open Market Committee.

โ€œIt has been an honor to work with such a talented and committed group of central bankers,โ€ said Mr. Held. โ€œI count myself lucky to have had the privilege to be part of this incredible team for as long as I have.โ€

During his tenure, Mr. Held advised the Bankโ€™s senior leaders on a wide range of matters, including regulation and supervision of financial institutions, anti-money laundering and OFAC, corporate investigations, corporate governance and ethics, director responsibilities, and litigation. In addition, he developed the New York Fedโ€™s first pro bono program and was an executive sponsor of the Financial Institutions Culture & Conduct initiative. He previously served as the Bankโ€™s Corporate Secretary and has been a Deputy General Counsel in the Legal Group. Mr. Held joined the New York Fed in 1998 as a staff attorney.

The New York Fed will soon launch a search for Mr. Heldโ€™s successor.

EDIT: His bio is still up on the NY Fed page. Seems this was not planned/communicated ahead of time?


Reddit Post