WEB DESK
Another proud moment for India as an Indian-American financial services industry veteran Naureen Hassan has been appointed as the first Vice President and Chief Operating Officer of the Federal Reserve Bank of New York.
Hassan’s appointment has been approved by the Board of Governors of the Federal Reserve System and her innings as the first VP and COO will begin from March 15.
The appointment was approved by the Board of Governors of the Federal Reserve System.
As first vice president, Ms. Hassan will be the New York Fed’s second ranking officer as well as an alternate voting member of the Federal Open Market Committee.
John C. Williams, president and chief executive officer of the New York Fed, said, “Naureen’s leadership background, deep commitment to fostering diverse teams, and extensive technology and financial experience will be critical to her role as a Bank leader. I am confident that Naureen will be an inspiring and innovative leader, and look forward to working with her to move our organization forward in line with our values.”
Denise Scott, executive vice president of the Local Initiatives Support Corporation (LISC) and chair of the New York Fed’s board of directors, said, “Naureen’s leadership experience and operational expertise are fully aligned with what the search committee and I envisioned for this role. Together with the board of directors, I am delighted that Naureen will be taking on this role that is critical to advancing the Bank’s mission and strategic priorities.”
Ms. Hassan has served in various capacities in the financial services industry for nearly 20 years, focusing primarily on digital and business process transformation. For the past four years, she was chief digital officer of wealth management at Morgan Stanley. Prior to that, she was at Charles Schwab Corporation beginning as a vice president of corporate strategy and ending her tenure as executive vice president of investor services, segments and platforms.
The search was conducted by a subset of the eligible members of the New York Fed’s board of directors. The search committee included Denise Scott, Rosa M. Gil, deputy chair of the New York Fed’s board of directors and founder, president & chief executive officer of Comunilife, Inc.; Vincent Alvarez, president of the New York City Central Labor Council, AFL-CIO; and Adena T. Friedman, president and chief executive officer of Nasdaq, Inc. The search committee retained executive search firm Bridge Partners, an executive search firm with unique expertise in attracting and retaining senior, diverse executives.