Tamara Lundgren Named Chair, David P. White Named Deputy Chair of the Federal Reserve Bank of San Francisco’s Head Office Board of Directors
SAN FRANCISCO – The Federal Reserve Bank of San Francisco has announced new leadership designations and appointments to its Head Office Board of Directors, effective January 1, 2022.
Tamara Lundgren, chairman, president and chief executive officer of Schnitzer Steel Industries, Inc. in Portland, Oregon, is now the chair of the San Francisco Head Office Board of Directors and Federal Reserve Agent for 2022. She served as deputy chair of the Head Office Board of Directors in 2021.
Ms. Lundgren has served as president, chief executive officer and director of Schnitzer Steel Industries since 2008. Prior to joining the company in 2005, she was a managing director in investment banking at JPMorgan Chase and Deutsche Bank in New York and London, respectively. She serves as an independent director on the boards of Ryder System, Inc. and the U.S. Chamber of Commerce. Ms. Lundgren was appointed to the Bank’s Head Office Board of Directors in 2018 and previously served as chair of the Bank’s Portland Branch Board of Directors. She holds a bachelor’s degree from Wellesley College, and a J.D. from the Northwestern University School of Law.
David P. White
David P. White, immediate past chief executive officer and chief negotiator, and current strategic advisor to Screen Actors Guild (SAG-AFTRA) in Los Angeles, and current Venture Partner, Ulu Ventures, in Palo Alto, California, has been designated deputy chair for 2022.
In addition to his role at SAG-AFTRA, the world’s largest entertainment union, Mr. White is a strategy advisor to USC’s Center for the Digital Future and an independent director for the global consulting firm RGP. Previously, he worked as managing principal at Entertainment Strategies Group LLC, in Los Angeles. Mr. White was appointed to the Bank’s Head Office Board of Directors in 2019. He holds a bachelor’s degree in political science from Grinnell College, as well as bachelor’s degrees in politics, philosophy, and economics from Oxford University. He obtained a JD from Stanford Law School.
The Bank also announced two new appointments to its Head Office Board of Directors. Mario Cordero, executive director of the Port of Long Beach in Long Beach, California, was appointed by the Federal Reserve Board of Governors to serve as a Class C director; and Simone Lagomarsino, president and chief executive officer of Luther Burbank Corporation in Santa Rosa, California, was elected by member banks in Group 2 to serve as a Class A director.
In 2017, Mr. Cordero was named executive director of the 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 also served as chair from 2013 to 2017. Prior to his appointment by President Obama to the Federal Maritime Commission, Mr. Cordero was a practicing attorney and an adjunct professor of political science at Long Beach City College. Mr. Cordero was formerly a director of the Bank’s Los Angeles Branch Board of Directors. He holds a bachelor of science in political science from California State University, Long Beach, and a juris doctor degree from the University of Santa Clara.
In addition to serving as president and chief executive officer of Luther Burbank Corporation, Ms. Lagomarsino leads its executive committee. Previously, Ms. Lagomarsino served as president and chief executive officer of the Western Bankers Association and as a director of Pacific Premier Bancorp. Ms. Lagomarsino serves on the boards of directors of the Federal Home Loan Bank of San Francisco and Hannon Armstrong Sustainable Infrastructure Capital, Inc., and was previously a member of the Twelfth District’s Community Depository Institutions Advisory Council. She holds a bachelor of arts in economics from Claremont McKenna College and a master of business administration in finance from Claremont Graduate School.
In addition, Greg Becker, president and chief executive officer of SVB Financial Group, and chief executive officer of Silicon Valley Bank in Santa Clara, California, was re-elected by member banks in Group 3 for a second three-year term as a Class A director.
Also re-elected was Arthur F. (Skip) Oppenheimer, chairman and chief executive officer of Oppenheimer Companies, Inc., and president of Oppenheimer Development Corporation in Boise, Idaho. Mr. Oppenheimer was re-elected by member banks in Group 3 as a Class B director.
The remaining members of the San Francisco Head Office board of directors include:
- S. Randolph Compton, co-chair of the board, Pioneer Trust Bank, N.A., Salem, Oregon
- Karen Lee, chief executive officer, Pioneer Human Services, Seattle, Washington
- Sanford L. Michelman, chairman, Michelman & Robinson, LLP, Los Angeles, 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.
Federal Reserve Bank of San Francisco
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.