San Francisco, California — The Board of Directors of the Federal Reserve Bank of San Francisco appointed Sylvain Leduc executive vice president and director of Economic Research, the Bank announced today. In this capacity, Leduc will oversee all research and analysis functions that support the development of monetary policy and that help further understanding of the economy nationally and globally. He succeeds Mary C. Daly who was named president and chief executive officer of the Bank.
In announcing the appointment, President Daly stated, “Sylvain Leduc is an internationally respected economist and monetary policy expert. He brings more than 20 years of experience working within the Federal Reserve System and as a Deputy Governor of the Bank of Canada to this role. This experience coupled with his exemplary leadership skills makes him an ideal choice to lead Economic Research at the San Francisco Fed.”
Before joining the Federal Reserve Bank of San Francisco in 2008 as a Research Advisor, Leduc was a senior economist in the International Division of the Board of Governors of the Federal Reserve System, specializing on the Japanese economy. From 1998 to 2008, Leduc also served as a senior economist in the Research Department of the Federal Reserve Bank of Philadelphia.
In May 2016, Leduc was appointed Deputy Governor of the Bank of Canada, a position he held until July 2018. In this capacity, he was one of two deputy governors responsible for overseeing the Bank’s analysis and activities in promoting a stable and efficient financial system. As a member of the Bank’s Governing Council, he shared responsibility for decisions on monetary policy and financial system stability and for setting the Bank’s strategic direction.
Leduc returned to the Federal Reserve Bank of San Francisco in August 2018 as associate director of Research. With his appointment to director of Research, Leduc also becomes a member of the Bank’s Executive Committee, the governance body responsible for the strategic direction of the organization.
Born in Montréal, Canada, Leduc received his Ph.D. in Economics from the University of Rochester and a B.A. and an M.A. in Economics from McGill University. He has served as Editorial Advisor for the Canadian Journal of Economics.
The Federal Reserve Bank of San Francisco (SF Fed) serves the public by promoting a healthy, sustainable economy, and supporting the nation’s financial and payment systems. With offices in Los Angeles, Seattle, Salt Lake City, Portland and Phoenix, the Bank serves the Twelfth Federal Reserve District, which includes one-fifth of the nation’s population and represents the world’s fourth-largest economy. As part of the nation’s central bank, the SF Fed informs monetary policy, regulates banks, administers certain consumer protection laws and acts as a financial partner to the U.S. government.