New York Fed Creates New Group and Names Sarah J. Dahlgren Executive Vice President and Head of Group

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Press Release

New York Fed Creates New Group and Names Sarah J. Dahlgren Executive Vice President and Head of Group

January 21, 2010

NEW YORK—William C. Dudley, president and chief executive officer of the Federal Reserve Bank of New York, announced today the formation of a new Special Investments Management Group. The Bank’s board of directors promoted Sarah J. Dahlgren to executive vice president and named her as head of the new group. She will also become a member of the Bank’s Management Committee.

This move represents an additional enhancement to the Bank’s governance and risk management in light of the tremendous expansion of the Bank’s balance sheet over the past eighteen months by separating out the management of the new investments from the Bank’s financial risk management. Among the Group’s responsibilities will be managing the Bank’s credit extension to AIG and its Maiden Lane LLC portfolios.

Ms. Dahlgren has been the senior vice president in charge of the AIG relationship since September 2008. Prior to that, Ms. Dahlgren was responsible for the relationship management function in the Bank Supervision Group, with oversight responsibility for the Group’s portfolios of domestic and foreign banking organizations. Previously, Ms. Dahlgren was responsible for the Bank Supervision Group’s information technology and payments systems exam programs, as well as its Year 2000 readiness efforts.

Since joining the Bank in 1990, Ms. Dahlgren has held various positions within the Bank Supervision Group, as well as having responsibility for the Bank’s credit risk management function. Ms. Dahlgren holds a bachelor’s degree from Cornell University and a master’s degree from Duke University.

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