SALT LAKE CITY – The Federal Reserve Bank of San Francisco has announced three new appointments to the Salt Lake City branch board of directors effective January 1, 2021.
Susan Morris, executive vice president and chief operating officer of the Albertsons Companies, Inc., in Boise, Idaho, has been appointed by the Federal Reserve Board of Governors. Lisa Grow, president and chief executive officer of IDACORP and Idaho Power, in Boise, Idaho; and Len Williams, president and chief executive officer of Altabank, in American Fork, Utah, have been appointed by the Federal Reserve Bank of San Francisco.
Ms. Morris joined the Albertson Companies, Inc. while still in high school. She has held many prior roles at the grocery retailer, including executive vice president of retail operations, division president and vice president of sales and merchandising. Ms. Morris holds a bachelor’s degree from Colorado State University.
Ms. Grow began her career at Idaho Power in 1987 and held many engineering positions before moving into management. She is also currently the president and chief executive officer of IDACORP Inc., which is Idaho Power’s parent company. Prior to her current roles, Ms. Grow served as chief operating officer and senior vice president for operations. Ms. Grow holds a master’s degree from Boise State University and a bachelor’s degree from the University of Idaho.
Mr. Williams joined Altabank as president and chief executive officer in 2017, when the organization was known as People’s Utah Bank. He is also president and chief executive officer of Altabancorp, the bank holding company for Altabank. In prior roles, he served as president and chief executive officer Home Federal Bank, in Nampa, Idaho, and also held executive positions at Fifth Third Bank and KeyBank. Mr. Williams holds a master’s degree from the University of Washington School of Business and is a graduate of the Pacific Coast Banking School.
The Bank also announced Russell A. (Chip) Childs, president and chief executive officer of SkyWest, Inc., holding company of SkyWest Airlines and SkyWest Leasing, in St. George, Utah, has been re-designated as Chair of the Salt Lake City branch board for 2021; O. Randall (Randy) Woodbury, president and chief executive officer of Woodbury Corp., in Salt Lake City, and former Bank-appointed director is now a Board of Governors-appointed director; and Jas Krdzalic, president and chief executive officer, Bodybuilding.com, in Boise, Idaho, has been re-appointed by the Bank for a second term.
The remaining member of the Salt Lake City branch board is Deneece G. Huftalin, president, Salt Lake Community College, Salt Lake City, Utah.
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.