January 23, 2012
Keith Smith Appointed Chairman of Los Angeles Branch
Federal Reserve Board
Los Angeles, January 23 – The Federal Reserve Bank of San Francisco appointed Keith Smith chairman of the Los Angeles Branch board of directors, effective January 1, 2012. In addition, The Board of Governors of the Federal Reserve System appointed Mr. Smith for a three-year term commencing January 1, 2012.
Smith is the president and CEO of Las Vegas-based Boyd Gaming Corporation, owner and operator of 17 gaming entertainment properties in six states. He previously served a three-year term as director of the Los Angeles Branch board prior to his appointment as chairman.
The Los Angeles Branch board of directors provides economic perspective on the region to the Federal Reserve Bank of San Francisco’s board of directors.
Mr. Smith has almost 30 years of experience in the gaming industry, both in Las Vegas and Atlantic City. Currently, he serves as the chairman of the Nevada Resort Association, and on the Council for a Better Nevada. He is immediate past chairman of the American Gaming Association, and past vice chairman and audit chairman of the Las Vegas Convention and Visitors Authority. Mr. Smith received a bachelor’s degree in Accounting from Arizona State University.
The balance of the Los Angeles branch board includes:
Joseph C. Berenato, chairman, Ducommun Inc., Carson, CA.
Grace Evans Cherashore, president and CEO, Evans Hotels, San Diego, CA.
John C. Molina, CFO, Molina Healthcare, Inc., Long Beach, CA.
David I. Rainer, chairman, president and CEO, California United Bank, Encino, CA.
Andrew J. Sale, partner, Americas Automotive Leader, Ernst & Young LLP, Los Angeles, CA.
The Federal Reserve Bank of San Francisco, with branch offices in Los Angeles, Seattle, Salt Lake City, and Portland, and a cash processing office in Phoenix, provides wholesale banking services to financial institutions throughout the nine western states. As the nation's central bank, the Federal Reserve System formulates monetary policy, serves as a bank regulator, administers certain consumer protection laws, and is fiscal agent for the U.S. government. Follow us on Twitter at twitter.com/sffedreserve