SEATTLE – The Federal Reserve Bank of San Francisco has announced two reappointments to its Seattle Branch Board of Directors, effective January 1, 2023.
Bob Donegan, president of Ivar’s Restaurants in Seattle, was reappointed by the Bank for a second term, and Sheila Edwards Lange, chancellor of the University of Washington Tacoma, was reappointed by the Federal Reserve Board of Governors. Dr. Edwards Lange was also redesignated to serve as Chair of the Seattle Branch Board for a second year.
The remaining members of the Seattle Branch Board of Directors include:
- Carol Gore, president and chief executive officer, Cook Inlet Housing Authority, Anchorage, Alaska
- Michael Senske, chairman and chief executive officer, Pearson Packaging Systems, Spokane, Washington
- Laura Lee Stewart, president and chief executive officer, Sound Community Bank and Sound Financial Bancorporation, Seattle
- Pallavi Mehta Wahi, co-managing partner, United States, and managing partner, Seattle office, K&L Gates LLP, Seattle
- John Wolfe, chief executive officer, Northwest Seaport Alliance (NWSA), Tacoma, Washington
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.