The Board of Governors of the Federal Reserve System has designated Kathryn S. Wylde, president and chief executive officer of the Partnership for New York City, deputy chairman of the New York Fed’s board of directors for 2011. Ms. Wylde was also reappointed as a Class C director for a three-year term that begins January 1, 2011. Ms. Wylde has served as a Class C director since July 2009.
The New York Fed’s board of directors consists of nine members, three of whom are appointed by the Board of Governors of the Federal Reserve System 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 the banking community. Class B and C directors are individuals chosen from professions outside the banking community and typically represent business, industry, agriculture, labor and consumers.