NEW YORK – Richard S. Fuld, Jr., chairman
and chief executive officer of Lehman Brothers
Holdings Inc., has been named a Class B director
of the Federal Reserve Bank of New York.
Jill M. Considine, chairman and chief executive
officer of The Depository Trust Company (DTC),
has been reelected a Class A director of the New
York Fed for a three-year term beginning January
2005. She has been serving as a Class A director
since January 2002.
Ms. Considine has been chairman and chief executive
officer of the DTC since 1999, and before that
was president of the New York Clearing House Association
from 1993 to 1999. She was the Superintendent of
Banks for New York State from 1985 to 1991 and
her prior experience includes senior positions
at American Express Bank, Bankers Trust Company
and Chase Manhattan Bank.
Mr. Fuld succeeds Ronay Menschel, chairman of Phipps
Houses, as one of three Class B directors for a
three-year term beginning March 2005.
Mr. Fuld, 58, has been chairman of the Board of
Directors of Lehman Brothers Holdings Inc. since
1994 and chief executive officer of the Company
since 1993. He is chairman of Lehman Brothers’
Mr. Fuld was president and chief operating officer
from 1993 to 1994. He was president and co-chief
executive officer of the Lehman Brothers Division
of Shearson Lehman Brothers Inc. from 1990 to 1993.
Mr. Fuld was a vice chairman of Shearson Lehman
Brothers from 1984 until 1990. He has been a director
of Lehman Brothers Inc. since 1984 and a director
of Lehman Brothers Holdings Inc. since 1990. He
joined Lehman Brothers in 1969.
Mr. Fuld is a member of the Executive Committee
of the Partnership for New York City, Business
Roundtable and The Business Council. He is a trustee
of the Mount Sinai Medical Center and the Mount
Sinai Children’s Center Foundation. In addition,
he serves on the Board of Directors of The Ronald
McDonald House of New York and the Board of Trustees
of Middlebury College.
Mr. Fuld received his B.A. from the University
of Colorado and his M.B.A. from the New York University
Stern School of Business.
The board of directors of the Federal Reserve Bank
of New York consists of nine members, three of
whom are appointed by the Board of Governors of
the Federal Reserve Systems as class C directors.
The remaining six (three class A and three class
B directors) are elected by member banks in the
Second Federal Reserve District. Class A directors
are drawn from among the banking community. Class
B & C directors are individuals chosen from
professions outside the banking community and typically
represent business, industry, agriculture, labor