San Francisco — Mark A. Gould has been appointed first vice president and chief operating officer of the Federal Reserve Bank of San Francisco, the Bank announced today. Mr. Gould is currently senior vice president, Seattle Branch manager, and product manager of the Cash Product Office (CPO). He will assume his new responsibilities on February 1, 2014. Mr. Gould succeeds John F. Moore, who is retiring after 33 years of service to the Federal Reserve System, including nearly 18 years as first vice president of the San Francisco Fed.
Mr. Gould’s appointment was made by the Federal Reserve Bank of San Francisco’s board of directors and approved by the Board of Governors of the Federal Reserve System in Washington, D.C.
As chief operating officer, Mr. Gould will lead all administrative, operating and financial services activities in the Twelfth District. He will oversee the district’s payment systems, automation, accounting, electronic services, and administrative services units, along with personnel, protection activities, and the budget and planning areas.
Mr. Gould will also become director of the CPO. The Federal Reserve System operates 28 cash processing locations in the United States, providing U.S. currency and coin to financial institutions domestically and around the world. The CPO provides standard software and processing tools for all cash processing and vault automation systems nationwide, and guides policy, product development, and currency and coin capacity planning for all Federal Reserve cash operations.
John C. Williams, president and chief executive officer of the Federal Reserve Bank of San Francisco, hailed the appointment, saying “Mark’s extensive operational experience and proven leadership abilities make him an outstanding choice to become our district’s next first vice president and chief operating officer. In addition, his Cash Product Office expertise will serve him well as he assumes the directorship and leads the CPO in carrying out one of its most important daily functions – meeting the currency and coin needs of our nation’s banks.”
John Moore agreed, adding “I have worked closely with Mark for much of his 22-year career at the Federal Reserve and can say firsthand that he has everything it takes to be a successful first vice president and COO. As I prepare for retirement, I’m pleased to be passing these responsibilities onto someone as capable and passionate about the Fed’s important work. We are in good hands with Mark.”
Mr. Gould said, “I’m truly honored to have been given this opportunity to serve as the Twelfth District’s next first vice president, working closely with President John Williams. John Moore has set a high standard for excellence in this role during his tenure as first vice president of the San Francisco Fed. I will do everything in my power to continue his legacy of unwavering integrity in our actions and steadfast commitment to the needs of our employees, our bank, and the communities we serve.”
Mr. Gould joined the Federal Reserve Bank of San Francisco in 1991. He is a member of the Bank’s Executive Committee, and the Federal Reserve System’s Business Technology Council and Financial Services Council.
During his career with the Bank, Mr. Gould has managed the Twelfth District’s retail payments, cash processing, and information technology areas, in addition to his recent leadership in the Federal Reserve System’s Cash Product Office. In his role as Seattle Branch manager, he has worked closely with the branch’s board of directors, facilitating dialogue and gathering its contributions to monetary policy decisions.
He is active in the Seattle community, serving as a member of the Seattle Community Development Roundtable, chairing the Seattle University Albers School Economics Advisory Board, and serving as a mentor for graduate and undergraduate economics students.
Mr. Gould holds a bachelor’s degree in economics from Pacific Lutheran University, and a master’s degree in applied economics from Seattle University.
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.