Boston Fed announces new members of external advisory councils Boston Fed announces new members of external advisory councils

Business and nonprofit leaders advise Bank leaders on economic conditions Business and nonprofit leaders advise Bank leaders on economic conditions

March 17, 2022

The Federal Reserve Bank of Boston announced the new members of its three advisory councils – the New England Advisory Council, the Community Development Advisory Council, and the Community Depository Institutions Advisory Council.

The councils advise the Bank’s senior leadership on emerging regional and national issues that affect local organizations and industries. They help keep the Bank connected to on-the-ground economic conditions throughout the First Federal Reserve District.

“Meetings with our advisory councils are very helpful to the work that we do here at the Boston Fed,” said interim president and CEO Ken Montgomery. "We gain tangible perspective on conditions, trends, and challenges in the economy from a diverse group of stakeholders from across New England."

New England Advisory Council (NEAC)

The NEAC consists of business leaders who advise the Bank about economic trends from the perspectives of their companies and industries. In roundtable discussions, NEAC members share views on a range of business conditions, including revenue forecasts, employment practices, capital spending, and access to credit. The NEAC meets four times annually.

  • Hitesh “Max” Kothari, CEO of Express Kitchens; Connecticut
  • Gabriella Parisse, president and CEO of Velcro Companies; New Hampshire

Learn more about the New England Advisory Council.

Community Development Advisory Council (CDAC)

CDAC members inform Boston Fed leadership and community development staff about activities and issues relating to low- and moderate-income individuals and communities, including how the Bank can support regional community development efforts. The council meets three times annually.

  • Nia Evans is executive director of the Boston Ujima Project; Massachusetts

  • Judy McBride, director of strategic partnership investments at the Hartford Foundation; Connecticut

  • Liz Neptune, president of Neptune Advantage, Inc.; Maine

  • Andrew Schiff, CEO of the Rhode Island Community Food Bank; Rhode Island

  • Wayne Ysaguirre, executive director of the Care Institute; Massachusetts

Learn more about the Community Development Advisory Council.

Community Depository Institution Advisory Council (CDIAC)

The Federal Reserve Board of Governors established the CDIACs in the 12 Federal Reserve districts in 2010. The Boston CDIAC offers perspectives on the economy, lending conditions, and other issues facing thrift institutions, credit unions, and community banks across New England. The CDIAC meets twice annually.

  • Robert Cashman, president and CEO of Metro Credit Union; Massachusetts

  • Brett Dean, president and CEO of Watertown Savings Bank; Massachusetts

  • Lisa Griffin, president and CEO of Eastern Connecticut Savings Bank; Connecticut

  • Michael Rauh, president and CEO of Chelsea Groton Bank; Connecticut

Learn more about the Community Depository Institution Advisory Council.

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