The Federal Reserve Act provides that the president of a Federal Reserve Bank shall be the chief executive officer of the Bank, appointed by the board of directors of the Bank, with the approval of the Board of Governors of the Federal Reserve System, for a term of five years. Twelve individuals have led the Federal Reserve Bank of San Francisco, ranging in terms of service from one year to 18 years. The first three leaders held the title "Governor." The Banking Act of 1935 abolished the dual role of governor and agent and created a single leadership role – president. Many who served likely shared the sentiment of our current president, John C. Williams as expressed in the 2010 annual report: "As I take on this new role, I feel a keen sense of responsibility both to the Federal Reserve System and to the communities of the Twelfth Federal Reserve District, who rely on us to safeguard the financial system and set a prudent course on monetary policy."
To learn more about Federal Reserve Bank Presidents throughout the System, visit the Federal Reserve Board of Governors site.