First Vice President Search

Search Outcome: On Feb. 27, 2024, the Search Committee announced Karen Pennell was selected as the next first vice president and chief operating officer of the Federal Reserve Bank of Boston.

Overview

The Federal Reserve Bank of Boston announced on Oct. 2 that First Vice President and Chief Operating Officer Kenneth C. Montgomery plans to retire in spring 2024 after 40 years of service to the Federal Reserve System.

In keeping with U.S. law and the Bank’s bylaws, the Boston Fed’s Board of Directors has formed a search committee consisting of directors who are not members of the banking industry. The committee is conducting a nationwide search with support from the executive search firm Bridge Partners to identify a broad and diverse pool of highly qualified candidates.

After interviewing candidates, the Bank’s Class B and C directors will appoint the new first vice president, subject to approval by the Board of Governors of the Federal Reserve System.

Corey E. Thomas, chairman and CEO of Rapid7 and chair of the Bank’s Board of Directors, will also chair the search committee, which includes Roger Crandall, Lizanne Kindler, Kimberly Sherman Stamler, Lauren A. Smith, and Susan M. Collins.

Search Committee Search Committee

Job Description Job Description

The current version of the First Vice President job description is available in the attached document.

Applications, Inquiries, and Referrals Applications, Inquiries, and Referrals

Applications, inquiries, and referrals are welcome by contacting Bridge Partners executive search.

Frequently Asked Questions Frequently Asked Questions

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