NEW YORK—The Federal Reserve Bank of New York announced that René F. Jones, chairman and chief executive officer of M&T Bank, has been reelected as a Class A Director representing Group 1, which consists of banks with capital and surplus of more than $2 billion. Jones will serve a three-year term ending December 31, 2027.
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, provides banking products and services with a branch and ATM network spanning the eastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T's Wilmington Trust-affiliated companies and by M&T Bank.
Before being named chairman and CEO of M&T, Jones served as chief financial officer and as a vice chairman of M&T Bank. Prior to joining M&T, Jones worked at the Boston-based office of Ernst & Young before moving to a private equity firm.
Jones is vice chair of the Bank Policy Institute. He serves on the boards of ACV Auctions Inc., Boston College, and Pan-Massachusetts Challenge Inc., as well as on the UB Council, an oversight and advisory body of the University at Buffalo. He also serves as a steward of the Council for Inclusive Capitalism and as an advisory member of AUX 21 Capital Management.
Jones is a graduate of Boston College, with a Bachelor of Science in management science, and the University of Rochester, with a Master of Business Administration.
About the Reserve Banks’ Boards of Directors
The Federal Reserve Act of 1913 requires each of the Reserve Banks to operate under the supervision of a board of directors. Each Reserve Bank has nine directors who represent the interests of their Reserve District and whose experience provides the Reserve Banks with a wider range of expertise that helps them fulfill their policy and operational responsibilities. The nine directors of each Reserve Bank are divided evenly by classification: Class A Directors represent the member banks in the District; Class B Directors and Class C Directors represent the interests of the public. The directors of the Reserve Banks act as an important link between the Federal Reserve and the private sector, ensuring that the Fed’s decisions on monetary policy are informed by actual economic conditions.
