NEW YORK— The Federal Reserve Bank of New York today announced that Michelle Neal has stepped down from her role as Head of the Markets Group and a member of the Bank’s Executive Committee. She will be leaving the New York Fed in March 2025 to work as a senior executive in the private sector, and in the interim, she has moved to an advisor role to help facilitate a smooth transition. Anna Nordstrom, Head of the Domestic and International Markets Function in the Markets Group, will serve as interim Head of the Markets Group until a successor is named.
“Michelle has been a visionary and inspiring leader who drove change and accelerated progress during her tenure at the Bank,” said John C. Williams, President and CEO of the New York Fed. “She has overseen significant initiatives—including the major technological investment in the Federal Reserve’s open market operations—to transform and innovate the critical work that we do. Michelle has been a key member of our Executive Committee, and I wish her well on the next chapter of her career.”
“It has been an honor to be part of the New York Fed and contribute to its public service mission,” said Neal. “Serving alongside the dedicated team of individuals who comprise the Markets Group and the New York Fed more broadly has been a highlight of my career. I’m proud of the work we’ve done together and, in particular, I look forward to seeing FedTrade Plus become a reality in the coming year.”
The New York Fed will launch a search for a new Head of the Markets Group in the coming weeks.
