Fifth Federal Reserve Directors Elect Chairpersons
RICHMOND, Va., Dec. 8 /PRNewswire-USNewswire/ -- The Boards of Directors for the Federal Reserve Bank of Richmond'sBaltimore and Charlotte branches elected the following chairpersons for one-year terms effective Jan. 1, 2009:
William R. Roberts -- President, Verizon Maryland/DC, Baltimore, Md., was elected chairman of the Bank's Baltimore branch. Mr. Roberts has served as a director since 2005.
Claude C. Lilly-- Dean, Clemson University, College of Business and Behavioral Science, Clemson, S.C., was reelected chairman of the Bank's Charlotte branch. Mr. Lilly has served as a director since 2007.
The boards of directors of the Baltimore and Charlotte branches of the Federal Reserve Bank of Richmond have seven members each. A majority of each branch's directors are appointed by the board of directors of the Richmond Reserve Bank and the remainder by the Board of Governors of the Federal Reserve System. The chairmen of the boards of the Baltimore and Charlotte branches are selected for one-year terms from among those directors appointed by the Board of Governors.
The Federal Reserve Bank of Richmond is one of 12 District Reserve Banks that together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Richmond Fed serves the Fifth Federal Reserve District, which encompasses the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia.
