SALT LAKE CITY – The Federal Reserve Bank of San Francisco has announced two reappointments to its Salt Lake City Branch Board of Directors, effective January 1, 2022.
O. Randall (Randy) Woodbury, president and chief executive officer of Woodbury Corp. in Salt Lake City was reappointed by the Federal Reserve Board of Governors; and Lisa Grow, president and chief executive officer of IDACORP and Idaho Power in Boise, Idaho, was reappointed by the Bank.
In addition, Mr. Woodbury was designated chair of the Salt Lake City Branch Board.
The remaining members of the Salt Lake City Branch Board of Directors include:
- Russell (Chip) Childs, chief executive officer and president, Skywest, Inc., St. George, Utah
- Deneece Huftalin, president, Salt Lake Community College, Taylorsville, Utah
- Jas Krdzalic, executive chairman, Bodybuilding.com and Vitalize LLC, Boise, Idaho
- Susan Morris, executive vice president and chief operating officer, Albertsons, Boise, Idaho
- Len Williams, president and chief executive officer, Altabancorp and Altabank, American Fork, 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.