July 1, 2003

Federal Reserve Bank of SF names new Seattle branch manager

Seattle, WA, July 1, 2003 – The Federal Reserve Bank of San Francisco (FRBSF) today announced the promotion of Mark Gould to Seattle Branch Manager and Group Vice President. Gould is currently the vice president of the Northern Region Check Operations and District Retail Payments Product Management Group, and will maintain these responsibilities when he assumes the Branch Manager position on July 1.

As Branch Manager, Gould will take on the additional responsibilities of being the primary point of contact between the Seattle Branch and its Board of Directors, maintaining the local business continuity of the Branch, and interfacing with the Seattle community.

Gould joined the Bank in 1991 as an operations analyst, and moved into the Retail Payments Division in 1992. He was appointed officer in 1997, assistant vice president in 1998, and vice president in 2000. Along with holding positions of increasing responsibility, Gould was instrumental in the development of several groundbreaking initiatives, including the Check to ACH Conversion (CTAC) Product and the District's Check Modernization Project. Gould also joined the Board of Governors retail payment staff on a temporary assignment in the mid 90's and has been a member of several Federal Reserve System workgroups.

The Seattle Branch of the Federal Reserve Bank of San Francisco, like most branches in the Federal Reserve System, is primarily an operations center. The major functions of the Branch include Cash Services and Check Services. The Seattle Branch is also home to the Twelfth District's Retail Product Office, which is responsible for payment services planning and strategy.

Gould holds a Bachelor's degree in economics from Pacific Lutheran University and a Master's degree in applied economics from Seattle University. He and his wife, Lisa Dobson Gould, reside in Edmonds. Gould replaces former Branch manager Kerry Webb who retired after 26 years of service to the Federal Reserve System.

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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