No. 2244

JANUARY 10, 2002

NEW YORK FED NAMES TWO SVPs and SEVEN VPs

NEW YORK - The Federal Reserve Bank of New York announced that its board of directors has approved the appointment of two senior vice presidents and seven vice presidents.

Roseann Stichnoth has been promoted to senior vice president of building support in the executive group. She had been vice president of resource and logistics management in the bank supervision group since July 1999.

Ms. Stichnoth joined the bank in June 1977 as an assistant bank examiner and subsequently was promoted to more senior examiner positions. In March 1982, Ms. Stichnoth resigned from the bank to accept a position with Marine Midland Bank, N.A., and she returned to the bank in September 1992 as a senior bank examiner in the international banking department.

In September 1994, Ms. Stichnoth was appointed an officer of the bank and assigned to the human resources services department. She was promoted to assistant vice president in December 1995, and in March 1996, she was named head of communications and multimedia services (ICMS) in the corporate group. In December 1996, Ms. Stichnoth was promoted to vice president of the planning and control and accounting functions while continuing her responsibility for ICMS. In April 1998, she rejoined the bank supervision group, and in January 2000, she was assigned to resource and logistics management as the group’s transition manager.

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

Leon Taub has been promoted to senior vice president of the statistics function in the research and market analysis group.

Mr. Taub joined the bank in March 1998 as vice president responsible for the statistics function in the research and market analysis group. Prior to joining the bank, he was chief of the national income and wealth division of the Bureau of Economic Analysis, U.S. Department of Commerce. His responsibilities included directing the production of the U.S. gross domestic product (GDP), national income and tangible wealth estimates and conducting research on GDP data sources and methodologies.

Mr. Taub began his career in the private sector in 1970 at a predecessor organization of Chase Econometric Associates, Inc. In 15 years at Chase Econometrics he rose to the position of vice president and was a member of the senior management group. From 1985 to 1990, he was president of Digene Diagnostics, Inc., a now publicly-held bio-technology company he co-founded, which specializes in the use of DNA-based diagnostic tests.

Mr. Taub holds a B.S. degree from the Wharton School of the University of Pennsylvania and M.A. and Ph.D. degrees from New York University.

Kausar Hamdani has been promoted to vice president responsible for the analysis of insurance risk in the risk management function of the bank supervision group. She had been assistant vice president since January 1995.

Ms. Hamdani joined the bank in September 1982 as an economist in the monetary research department where she subsequently held various supervisory positions. In January 1990, Ms. Hamdani was appointed an officer of the bank assigned to the financial studies department. In July 1993, she was transferred to the bank supervison group as examining officer and assigned to the Far Eastern examinations department. In January 1995, she was promoted to assistant vice president and assigned to the bank analysis department. In December 1996, Ms. Hamdani was assigned to the advisory and technical services function.

Ms. Hamdani holds a B.A. degree from the Western College for Women, Oxford, Ohio and an M.A. degree and a Ph.D. degree from Columbia University.

James McAndrews, assistant vice president, payment studies, has been promoted to vice president. Working with payments areas across the Bank, Mr. McAndrews will be responsible for coordinating strategic planning for the broad range of the Bank’s payment activities and will lead the Bank’s efforts in communicating a bankwide payments strategy.

Mr. McAndrews joined the bank in August 1997 as a senior economist in the payment studies function, coming from the Federal Reserve Bank of Philadelphia, where he was a senior economist and research advisor in the research department. He was appointed an officer of the bank in June 1998.

Mr. McAndrews holds a B.A. and a Ph.D. degree from the University of Iowa.

Lennox A. Myrie has been promoted to vice president of network and data center operations in the automation and systems services group. He had been assistant vice president since June 1999.

Mr. Myrie joined the bank in October 1972 as a computer operator in the computer operations department, where he held various positions with increasing responsibilities in automation and in human resources. In October 1987, he was appointed an officer of the bank assigned to the long-range planning staff of the automation and electronic payments group.

Mr. Myrie holds an A.S. degree in applied science, a B.S. degree from Pratt Institute and an M.S. degree from Polytechnic Institute of New York.

Lorry Prentis has been promoted to vice president of credit risk and banking trends functions in the bank supervision group. She had been responsible for the credit and risk management function since January 2000.

Ms. Prentis joined the bank in September 1979 as an analyst in the consumer affairs and bank regulations department. From 1980 through November 1994, she had various positions with increasing responsibilities, and in January 1995, Ms. Prentis was appointed an officer of the bank and assigned to the management information department. In December 1996, she was assigned to the credit and risk management function and in June 1998 she was promoted to assistant vice president.

Ms. Prentis holds a B.A. degree from the University of Colorado and an M.B.A. from New York University.

Felicia Wiggin has been promoted to vice president of cash and custody in the financial services group. She had been an assistant vice president since June 1998.

Ms. Wiggin joined the bank in June 1983 as an administrative trainee in the funds transfer department. In October 1989, she participated in the Federal Reserve System’s Interchange Program at the Board of Governors in Washington, and she resigned from the bank in 1990 to work as a member of the Board’s securities and fiscal services staff. Ms. Wiggin returned to the bank in February 1992 as an operation support specialist in the cash function and in January 1995 she was appointed an officer of the bank and assigned to the paying and receiving department. In December 1997, Ms. Wiggin was assigned to the cash vault and technical services department.

Ms. Wiggin holds a B.S. degree from Manhattan College and an M.B.A. degree from Fordham University.

Jennifer Zara has been promoted to vice president of the strategic investment and risk assessment office in the administrative services group.

Ms. Zara joined the bank in July 1988 as an assistant bank examiner and assigned to the domestic banking department of the bank supervision group. She was promoted to various positions within the group and in December 1997, Ms. Zara was appointed an officer of the bank assigned to the financial examinations function. She was transferred to the banking trends function in January 1999 and in December 1999, she was promoted to assistant vice president. In January 2001, Ms. Zara was transferred to the IT Project Office, which was renamed the strategic investment and risk assessment office in April 2001.

Ms. Zara holds a B.A. degree from Vassar College and an M.B.A. from Columbia University.

Harry Zimbalist has been promoted to vice president of information technology in the automation and systems services group.

Mr. Zimbalist joined the bank in June 1976 as an assistant programmer in the common systems department. He held various positions with increasing responsibilities within the systems development function, and in January 1995, Mr. Zimbalist was appointed an officer of the bank and assigned to the open systems support department.

He was promoted to assistant vice president in December 1997 with his assignment continuing. In April 1998, the information technology function was established and Mr. Zimbalist is responsible for the communications and infrastructure support department.

Mr. Zimbalist holds a B.S. degree from the City College of New York.