Alberto Musalem to Resign from New York Fed - FEDERAL RESERVE BANK of NEW YORK

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Alberto Musalem to Resign from New York Fed

September 14, 2016

NEW YORK – The Federal Reserve Bank of New York today announced that Alberto G. Musalem, executive vice president and head of the Integrated Policy Analysis Group (IPA), has announced his decision to resign from the Bank effective January 6th, 2017. On October 1st, 2016, Mr. Musalem will assume the role of senior advisor to the president of the New York Fed, William C. Dudley.

Mr. Musalem joined the Bank in 2014 as head of the Emerging Markets and International Affairs Group (EMIA) and member of the Bank’s management committee. Prior to joining the Bank, Mr. Musalem was a Partner and Managing Director of Tudor Investment Corporation and before that an economist at the International Monetary Fund. In December of 2014, Mr. Musalem was named head of Integrated Policy Analysis (IPA), a new group that brought together teams from other parts of the Bank to develop a more integrated view of the economic and financial environment to help inform the Bank’s policy responsibilities. In addition, Mr. Musalem led the Bank’s monitoring of Puerto Rico’s economic and financial situation.

“I want to thank Alberto for his efforts and contributions and wish him all the best. His deep experience in and understanding of markets and international policy were of great value as we looked to further our understanding of the global environment and financial stability.” said Mr. Dudley.

A successor for Mr. Musalem will not be named. The work of IPA will continue, but as of October 1st, 2016, its responsibilities and staff will be reassigned to the Markets, Research and Statistics, and Supervision Groups, as well as to the Executive Office.

“We are committed to leveraging the Bank’s unique breadth and depth of insight to strengthen our ability to perform our key monetary, supervisory and payments responsibilities. I am confident that this will be better accomplished by having the analysis more closely linked to the Bank’s operational and policy responsibilities,” added Mr. Dudley.

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