NEW YORK - The Federal Reserve Bank of New York announced that its board of directors has approved the promotion of four vice presidents.

Gary M. Bertone has been promoted to vice president for the wholesale payments office, executive office group. He had been assistant vice president in that office since January 2001.
Mr. Bertone joined the bank in June 1983 as an analyst in the reserve analysis staff, accounting control division in the accounting department. In July 1994, Mr. Bertone was appointed an officer of the bank assigned to the Fedwire network services staff responsible for all aspects of customer support for the bank's Fedwire access products and the Treasury Automated Auction Processing System. In September 1995, he was assigned to the central business administration function staff, electronic payments function responsible for the day-to-day operations and changes and enhancements to the Fedwire services. Mr. Bertone was promoted to assistant vice president in December 1997.

Mr. Bertone holds a B.S. degree from Niagara University and an M.B.A. degree from the University of Notre Dame.

Zahra El-Mekkawy has been promoted to vice president for policy and analysis in the bank supervision group. Ms. El-Mekkawy is returning from a leave of absence, having served on the Secretariat for the Basel Committee on Banking Supervision at the Bank for International Settlements since August 1998.

Ms. El-Mekkawy joined the bank in August 1991 as a banking applications analyst in the domestic banking division in the banking applications department. She was appointed an officer of the bank in June 1997 assigned to the foreign exchange staff, markets group.

Ms. El-Mekkawy holds a B.S. and a B.A. degree from Boston University and a Masters of International Affairs from Columbia University.

Robert Elsasser has been promoted to vice president of government securities in the markets group. He had been assistant vice president since December 1999.

Mr. Elsasser joined the bank in June 1990 as an assistant financial analyst in the bank analysis department. In October 1991, he transferred to the markets group, and he served in various positions in the market surveillance department and on the open market desk. In June 1997, he was appointed an officer of the bank assigned to the government securities staff, markets department.

Mr. Elsasser holds a B.A. degree from the University of Washington and an M.B.A. degree from New York University.

Richard P. Passadin has been promoted to vice president of electronic security and the national incident response team in the automation and systems services group. He had been assistant vice president since December 1993.

Mr. Passadin joined the bank in October 1964 as a junior general clerk assigned to the check department. He had various positions with increasing responsibilities in the check department and computer services department. In January 1979, Mr. Passadin was appointed an officer of the bank and assigned to the user operations department. In January 1984, he was assigned to the electronic security staff, and in October 1987 he ws assigned responsibility for the electronic security and security control staff.

Mr. Passadin holds a B.A. degree from Pace College and an M.B.A. from Fordham University.