LOS ANGELES – The Federal Reserve Bank of San Francisco has announced four new appointments to the Los Angeles branch board of directors, effective January 1, 2021.
Mario Cordero, executive director of Port of Long Beach, in Long Beach, California, was appointed by the Federal Reserve Board of Governors. Additionally, the Bank has appointed Terry Benelli, executive director, LISC Phoenix in Phoenix; Wayne-Kent Bradshaw, president and chief executive of Broadway Federal Bank in Los Angeles; and Jack Sinclair, chief executive officer of Sprouts Farmers Market in Phoenix.
Prior to joining LISC Phoenix in 2014, Ms. Benelli served as executive director of Neighborhood Economic Development Corporation in Mesa, Arizona. She is currently a fellow at the Arizona Center for Civic Leadership as well as a local advisory board member for U.S. Bank. From 2017 to 2020, Ms. Benelli served as a member and Chair (2019 -2020) of the Bank’s Community Advisory Council. She has a bachelor’s degree from Arizona State University.
Wayne-Kent (Wayne) Bradshaw
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Wayne-Kent (Wayne) Bradshaw
Mr. Bradshaw joined Broadway Federal Bank in 2009 as president and chief operating officer before assuming the role of chief executive officer in January 2012. With more than four decades of banking experience, he previously held roles at Union Bank, Washington Mutual, and Founders and Family, among others. Mr. Bradshaw has also served as chief deputy superintendent of the California State Banking Department. He holds a master’s degree from the University of Southern California and a bachelor’s degree from the University of Arizona.
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Mr. Cordero was in 2017 named executive director of Port of Long Beach, the second busiest port in the U.S. Prior to his current role, Mr. Cordero served as a White House appointee to the Federal Maritime Commission, beginning in 2011, where he served as Chairman through 2017. Prior to his appointment to the Federal Maritime Commission Mr. Cordero was a practicing attorney, with additional roles as an adjunct professor teaching political science at Long Beach City College. He holds a juris doctor degree from the University of Santa Clara and a bachelor’s degree from California State University, Long Beach.
Prior to joining Sprouts in 2019, Mr. Sinclair served as chief executive officer of 99 Cents Only Stores. From 2007 to 2015, he was executive vice president of the U.S. Grocery Division of Walmart, Inc. Prior to that, Mr. Sinclair spent 14 years at Safeway PLC in London. He has also served on the board of directors of The Hain Celestial Group. Mr. Sinclair holds a bachelor’s degree from The University of Strathclyde, Glasgow, Scotland.
The Bank also announced that Anita V. Pramoda, chief executive officer of Owned Outcomes in Las Vegas, has been re-designated as chair of the Los Angeles branch board for 2021.
In addition, Carl Chang, chief executive officer of Redwood-Kairos Real Estate Partners and chairman of the board of Pieology Pizzeria, in Rancho Santa Margarita, California, and former Bank-appointed director, is now a Board of Governors-appointed director.
The remaining member of the Los Angeles Branch Board is Maritza Diaz, chief executive officer, iTjuana, San Diego, California.
About the Boards of Directors
The Federal Reserve Act of 1913 requires each of the 12 Reserve Banks to operate under the supervision of a board of directors. The Federal Reserve Bank of San Francisco’s head office is governed by nine directors who represent the interests of the 12th Reserve District and whose experience provides the Bank with a wider range of expertise that helps it fulfill its policy and operational responsibilities. The nine directors of each Reserve Bank are divided evenly by classification: Class A directors represent the member banks in the District; Class B directors and Class C directors represent the interests of the public. In the case of the Federal Reserve Bank of San Francisco, its four branches in Los Angeles, Portland, Salt Lake City and Seattle each have a separate seven-member branch board.
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.