Presidential Search

Recent Updates

  • On October 25, the search committee and search firm held meetings with three of the Boston Fed’s advisory councils (the New England Advisory Council, the Community Development Advisory Council, and the External Diversity Advisory Council) to gather input and perspective on the attributes and skillsets that advisory group members see as important in the next Boston Fed president.
  • Between October 12 and 18, to complement the public announcement of the search and the work of the search firm, the search committee sent outreach messages to approximately 500 parties – seeking input on desired characteristics in candidates; inviting referrals, nominations, and applications; and encouraging sharing of the opening within networks. The outreach extended to representatives of a wide variety of entities including: business groups and networks; nonprofit and advocacy organizations; banking and finance organizations and associations; labor unions; higher education institutions (including Historically Black Colleges and Universities, state universities in New England, and programs in economics and public policy); think tanks and other research organizations; philanthropic entities; individuals and organizations engaged in economic development; Federal Reserve System leaders; Boston Fed staff; former board of directors members and former Reserve Bank presidents; and current and former members of Boston Fed non-banker advisory councils.
  • The board chair and deputy chair discuss the search goals and priorities in the short video “Selecting the next president of the Federal Reserve Bank of Boston,” posted October 12.
  • On October 12, the search was formally launched with extensive outreach notifying subscribers, constituents, elected officials, media, and the public. All outreach registered the search committee’s interest in input, feedback, nominations, referrals, and applications.

Overview

Eric Rosengren announced his retirement as Federal Reserve Bank of Boston President, effective September 30, 2021.

The Boston Fed’s board of directors formed a search committee, consisting of directors who are not members of the banking industry, in keeping with U.S. law and the Bank’s bylaws. The committee is conducting a rigorous nationwide search to identify a broad and diverse pool of highly qualified candidates, with support from the executive-search consultancy Spencer Stuart.

The search involves extensive outreach aiming to gather stakeholder feedback and input, as well as nominations and applications.  After interviewing top candidates, the Bank's Class B and C directors will appoint the new president, subject to approval by the Board of Governors of the Federal Reserve System.

Christina Hull Paxson, president of Brown University and chair of the Bank’s Board of Directors, will also chair the search committee, which includes all six non-banker directors.

Search Committee Search Committee

Dr. Christina Hull Paxson
President, Brown University
Chair, board of directors
Chair, search committee
Corey Thomas
Chairman and CEO, Rapid7
Deputy Chair, board of directors
Member, search committee
Lizanne Kindler
CEO, Talbots and Executive Chair, Ascena
Member, search committee
Kimberly Sherman Stamler
President, Related Beal
Member, search committee
Dr. Lauren Smith
Chief Health Equity & Strategy Officer, CDC Foundation
Member, search committee
Roger Crandall
President, CEO, and Chair, Mass Mutual Life Insurance Corp.
Member, search committee

Selection Process Selection Process

Learn more about how Federal Reserve Bank presidents are selected, and the roles and responsibilities of the Banks and their leaders, in this short video:

Job Description & Documents Job Description & Documents

The current version of the president and CEO job description is available below. Other documents relevant to the search will be shared here in the coming months.

Provide Input or Apply Provide Input or Apply

The Bank and the search committee welcome public input, recommendations, and inquiries throughout the search process. We’ll be as open and transparent about the search as we can, while of course affording the ability for applicants to apply confidentially. Those wishing to provide input can do so at the following link.

To assist the search committee’s efforts, the Boston Fed has hired Spencer Stuart to help recruit and vet potential candidates. Anyone who wishes to be considered for the position or formally nominate someone should communicate directly with Spencer Stuart.

Frequently Asked Questions Frequently Asked Questions

What does the Boston Fed do? What does the Boston Fed do?

Mission and Values Mission and Values

Our Values

At the Boston Fed, our mission is to promote a strong, resilient, and inclusive economy and financial system for New England. We strive to do the right things in the right ways and take appropriate risks to achieve our goals.

Here’s what we value:

Integrity

We always put the public interest first, and partnering with our Bank colleagues, do the right things in the right
ways.

Leadership

We make leadership contributions that advance the Federal Reserve’s mission and significantly impact the System and our communities. We value leadership skills and behaviors across the organization.

Diversity, Equity, and Inclusion

We strive to create a culture of equity and inclusion that values and maximizes the benefits of our diversity of background and perspectives. We believe this encourages the best contributions from all employees and improves our effectiveness.

Innovation

We invite different perspectives, embrace change, explore and experiment with new ideas, and continually pursue creative ways to accomplish our goals.

Stay Informed

Speeches, press releases, and the quarterly Highlights newsletter

See our privacy policy