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May 5, 2003
| CONTACTS: |
Peggy Speck
FRBSF |
(415) 974-3415 |
GEORGE SCALISE NAMED CHAIRMAN AND SHEILA
HARRIS NAMED DEPUTY CHAIRMAN OF THE FEDERAL RESERVE BANK OF SAN FRANCISCO
San Francisco, May 5, 2003 – The Federal Reserve Board
of Governors in Washington D.C. has designated George Scalise, President
of the Semiconductor Industry Association, as Chairman of the Board and
Sheila Harris, Director of Arizona’s Department of Housing, as Deputy
Chairman of the Federal Reserve Bank of San Francisco, effective May
1.
In this role, Scalise and Harris
share responsibility with seven other directors for overseeing Reserve
Bank operations. Reserve Bank
directors also provide their perspective on economic trends in their
regions, advise the Bank’s president and the Board of Governors of the Federal
Reserve System on the general direction of monetary policy, and establish
the Bank’s discount rates, subject to review and determination by
the Board of Governors.
Mr. Scalise is president of the
Semiconductor Industry Association (SIA) in San Jose, the premier trade
association representing the U.S. microchip
industry. SIA member companies comprise 85 percent of U.S. semiconductor
production and employ a domestic workforce of more than 270,000. Mr.
Scalise came to the SIA from Apple Computer, where he served as executive
vice president
of operations. Prior to that he held executive management positions with
National Semiconductor, Maxtor Corporation, Advanced Micro Devices, Fairchild
Semiconductor, and Motorola Semiconductor. A graduate of Purdue University
in mechanical engineering, Mr. Scalise is a respected technology industryspokesperson
and carries a special interest and expertise in international trade and
competition issues. He is a founding member of the Semiconductor Research
Corporation, an industry-funded organization that provides resources
for pre-competitive research at American universities. Mr. Scalise
currently serves on President George W. Bush’s Council of Advisors
on Science and Technology as well as numerous boards, including Cadence
Design Systems
and iSuppli Corporation.
Dr. Harris is the first director
of the new Arizona Department of Housing, which began its work in October
2002. She was appointed to this
position in 2002 and reappointed in January 2003 by Arizona State Governor
Janet Napolitano. Dr. Harris has acted as a consultant for a wide variety
of organizations dealing with affordable housing and she has served as
program director for the Corporation for Supportive Housing in Phoenix
and president
and executive director for Casa de Nueva Esperanza/Phoenix Revitalization
Corporation. In addition, Dr. Harris has participated on numerous community
boards and commissions and is a member of the Arizona Commission on Trial
Court Appointments and the Governor’s Children’s Cabinet. Dr.
Harris is a graduate of Ottawa University in Kansas. She also has a master's
degree in urban planning from the University of Kansas and a doctorate
in public administration from Arizona State University in Tempe.
Under the Federal Reserve policy
of rotation, Reserve Bank directors may serve two three-year terms. Mr.
Scalise was first appointed
to the San Francisco Board in 2000 and reappointed in 2003. He succeeds
previous Bank chairman Nelson Rising, Chairman and CEO of Catellus Development
Corporation, who retired from the Bank’s Board on April 30. Dr. Harris
was first appointed to the San Francisco Board in 1999 and was reappointed
in 2002.
The Federal Reserve Bank of San
Francisco provides wholesale banking services to financial institutions
in the nine western states through the head office in San Francisco
and branch offices at Los Angeles, Portland, Salt Lake City, Seattle,
and Phoenix. As the nation's central bank, the Federal Reserve System
formulates monetary policy, serves as a bank regulator, administers
consumer protection laws, and is fiscal agent for the U.S. government.
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