No. 2133

MONDAY, JANUARY 13, 1997

NEW YORK FED NAMES SIX VPs

NEW YORK -- The Federal Reserve Bank of New York's board of directors promoted six officers to vice president, the bank announced today.

Named vice presidents were:

Bruce A. Cassella of Mountain Lakes, N.J. He was promoted to vice president and bank services officer in the banking services group. Since January 1995, he had been the officer in charge of the bank services function.

He joined the bank in July 1960 as an assistant bank examiner trainee in bank examinations. In 1968, he joined bank services, formerly bank relations, as a special representative and over the years he was promoted to positions of increasing responsibility.

Mr. Cassella holds a B.A. degree from Rutgers University.

Angus J. Kennedy of New Hartford, N.Y. He was promoted to vice president, continuing as regional check manager of the Utica Office. Since October 1986, he had been regional check manager at the assistant vice president level.

Mr. Kennedy joined the bank in July 1959 as a clerk in the government bond division. He held various positions in that area until October 1964 when he was transferred to the accounting department as an assistant programmer. Between January 1965 and December 1972, he held various programming/systems-related positions. He became an officer of the bank in 1975 and held a number of management positions in data processing and fiscal services before his assignment to Utica.

Mr. Kennedy received an M.B.A. degree from Adelphi University and a B.S. degree from Fordham University.

Matthew J. Puglisi of Little Neck, N.Y. He was promoted to vice president and will have responsibility for the check function. Since December 1993, he had been regional check manager and in February 1996, he was assigned to the Jericho Regional Check Processing Center. In October 1996, he was reassigned to the East Rutherford Operations Center.

Mr. Puglisi joined the bank in August 1965 in the personnel department. In October 1965, he was transferred to the wire transfer division where he held various clerical positions until his military leave in September 1967. He returned from leave in March 1968 and over the years held positions of increasing responsibility in the check processing area.

He holds a B.B.A. from Baruch College.

Roseann Stichnoth of Ridgewood, N.J. She was promoted to vice president of the planning and control, and accounting functions. She also will have senior advisory responsibility for internal communications and multimedia services (ICMS). In March 1996, she was assigned to a newly formed function, ICMS, in the corporate group. In December 1995, Ms. Stichnoth was named assistant vice president in human resources and also was named assistant secretary.

She joined the bank in June 1977 as an assistant bank examiner in bank examinations. Over the years, she was promoted to positions of increasing responsibility in bank supervision. Ms. Stichnoth left the bank in March 1982, to accept a position with Marine Midland Bank, N.A. In September 1992, she rejoined the bank as a senior bank examiner in international bank examinations and was promoted to supervising examiner in April 1993.

Ms. Stichnoth holds a B.B.A. in finance from the University of Massachusetts and a M.B.A. in finance from the New York Institute of Technology.

Marilyn E. Skiles of New York City. She was promoted to vice president of emerging markets and international affairs. In December 1995, she was assigned to the developing studies and foreign research area of the emerging markets and international affairs group. In February 1996, Ms. Skiles title was changed to assistant vice president.

She joined the bank in December 1984 as an economist in the external financing department. In November 1989, she was promoted to senior economist in foreign relations. Ms. Skiles left the bank in November 1991 to accept a position with J.P. Morgan & Company.

In April 1995, she rejoined the bank as an officer with the title of international adviser.

Ms. Skiles holds a B.A. in economics and history from the University of California, L.A., a M.A. in economics and history, and a Ph.D. in economics, all from the University of California, Berkeley.

Deborah A. Perelmuter of Montclair, N.J. She was promoted to vice president of the markets group. She had been assistant vice president since July 1995.

Ms. Perelmuter joined the bank in July 1984 as a credit assistant in the credit and discount department. In July 1986, she transferred to the open market department as a securities trader. She held various positions in that area and in July 1992, she was promoted to senior open market specialist. In March 1993, Ms. Perelmuter was appointed an officer of the bank with the title of manager and assigned to market surveillance.

She holds a B.S. in economics from the Wharton School, University of Pennsylvania and a M.B.A. from the Stern School of Business, New York University.

Other new assignments include:

Ralph A. Cann, III of New York City and senior vice president of banking services, was assigned responsibility for central bank services and oversight responsibility for electronic payments and fiscal services. He also will be the group's senior officer responsible for planning, administration and coordination (SORPAC).

Michele S. Godfrey of New York City and senior vice president of emerging markets and international affairs, will head the International Affairs Office. In addition, she was named the group's SORPAC.

Daniel C. Bolwell of South Hackensack, N.J., was reassigned as vice president of central bank services. James H. Gaver of Secaucus, N.J., and vice president of automation and systems services, was named the group's SORPAC.

Richard J. Gelson of Maplewood, N.J., and vice president of accounting, was assigned senior advisory responsibility for accounting, credit and risk management, and payment systems issues.

Nirmal V. Manerikar of Plainsboro, N.J., was named Secretary of the bank and SORPAC of the corporate group. He will continue to be responsible for the Office of Corporate Consultancy and will have senior advisory responsibility for planning and control issues.

Paul L. McEvily of Interlaken, N.J., and vice president of check, was assigned general administrative responsibility for the East Rutherford Operations Center and oversight responsibility for the check function.