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📈 Macroeconomics

Philadelphia Fed launches search for its next president and CEO, as current president and CEO Patrick Harker’s tenure will conclude on June 30, 2025.

Patrick Harker’s tenure will conclude on June 30, 2025
Patrick Harker’s tenure will conclude on June 30, 2025
Source: https://www.philadelphiafed.org/about-us/240904-philadelphia-fed-launches-search-for-next-president-and-ceo
Source: https://www.philadelphiafed.org/about-us/240904-philadelphia-fed-launches-search-for-next-president-and-ceo

The Federal Reserve Bank of Philadelphia has begun its search for a new president and CEO to succeed Patrick T. Harker, whose tenure will end on June 30, 2025. A committee of eligible Philadelphia Fed board members, in accordance with Federal Reserve policies, will lead the search, chaired by Anthony Ibargüen, CEO of Quench USA, Inc.

The search will be nationwide, aiming to find a leader who will continue Harker's legacy of promoting economic growth and serving the Third District. The committee, which includes prominent business and community leaders like Sharmain Matlock-Turner, CEO of the Urban Affairs Coalition, and Drexel University President John Fry, will focus on identifying a diverse pool of qualified candidates committed to public service.

The new president will play a crucial role in shaping monetary policy as a member of the Federal Open Market Committee and overseeing the Bank’s key functions, including payment services, bank supervision, and community engagement. Global executive search firm Spencer Stuart has been retained to assist in the process.

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TLDRS:

  • The Federal Reserve Bank of Philadelphia has begun its search for a new president and CEO to replace Patrick T. Harker, who will step down on June 30, 2025.
  • The search is being led by a committee of Philadelphia Fed board members, chaired by Anthony Ibargüen, CEO of Quench USA, Inc.
  • The new president will be a key player in shaping monetary policy as a member of the Federal Open Market Committee and will oversee functions like payment services, bank supervision, and community engagement.
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