Boston Fed Announces 2016 Board of Directors
Contact: Tom Lavelle, 617 973-3647, Thomas.L.Lavelle@bos.frb.org or Joel Werkema, 617 973-3510, Joel.Werkema@bos.frb.org
The Federal Reserve Bank of Boston today announced its 2016 Board of Directors, effective Jan. 1, 2016. New members joining the board of directors are Dr. Christina Hull Paxson and Dr. Phillip L. Clay. The 2016 Board of Directors are:
- John F. Fish, Chair and a Class C Director, is chairman and chief executive officer of Suffolk Construction Company, Inc., a national, privately held general building contractor with approximately $2.7 billion in annual revenue. Fish is a founding member and former chair of the Massachusetts Competitive Partnership (MACP) and was appointed to the Massachusetts Economic Development Planning Council and Israel Innovation Economy Partnership Mission. He also serves on Jobs for Massachusetts, is former chair and current executive committee member for the Greater Boston Chamber of Commerce, and is a member of the National Business Roundtable. Fish is chairman of the board at Boston College, a trustee at Tabor Academy, and is the founder and chairman of Scholar Athletes, a program focused on improving the academic performance of high school scholar athletes. Fish also serves on the boards for the Boys and Girls Clubs of Boston, Catholic Schools Foundation, and Camp Harbor View.
- Gary L. Gottlieb, M.D., Deputy Chair and Class C Director, is chief executive officer of Partners in Health, a global health organization providing health care in severely resource constrained environments in ten countries. Dr. Gottlieb is also a professor of psychiatry at Harvard Medical School and a member of the National Academy of Medicine. From 2010 until February 2015, Gottlieb served as president and chief executive officer of Partners HealthCare, the parent organization of Brigham & Womens and Massachusetts General Hospitals. Prior to that he served as president of Brigham and Womens Hospital, president of North Shore Medical Center, and as chairman of Partners Psychiatry and Mental Health System. As a leader in the Boston area community, Gottlieb served as chairman of the Private Industry Council, the citys workforce investment board, from 2005 to 2015.
- Joseph L. Hooley, a Class A Director, is chairman and chief executive officer of State Street Corporation. Since joining State Street in 1986, Hooley has held a number of diverse leadership positions with increasing responsibilityboth within State Street and externally. He was appointed vice chairman of State Street in 2006 and president and chief operating officer in 2008, and assumed his current role in 2010. Hooley serves on the board of Boys & Girls Clubs of Boston, the President's Council of the Massachusetts General Hospital, and the Massachusetts Competitive Partnership (MACP). He also is a trustee of the board of Boston College and a member of the Financial Services Forum in Washington. Hooley is also the former Federal Reserve Bank of Boston representative to the Federal Advisory Council.
- Peter Judkins, a Class A Director, is president and chief executive officer of Franklin Savings Bank, a mutual savings bank based in Farmington, Maine with branches in seven Maine cities and towns. He is a current board member and former chairman of the Maine Bankers Association. Prior to joining Franklin Savings Bank in 1999, Judkins held various sales and sales management positions with American Express and Citicorp, taking him and his family from Maine to New York, to Pittsburgh, to Washington D.C., to Salt Lake City, and to Boston. Judkins is a former member of the Federal Reserve Bank of Bostons Community Depository Institutions Advisory Council.
- Michael E. Tucker, Esq., a Class A Director, is president, chief executive officer, and director of Greenfield Co-operative Bank and its parent company, Greenfield Bancorp MHC, a position he has held since 2003. A lawyer by training, Tucker began his career at the Springfield Institution for Savings, where he later served as senior vice president and general counsel. Tucker also was senior vice president and senior operating officer at Easthampton Savings Bank. He has held a number of positions on committees of the board of the Massachusetts Bankers Association, including state chairman from 2013 to 2014. He is currently an at-large member of the Franklin County Chamber of Commerce board of directors and a trustee of the Horace Smith Fund Scholarship Fund.
- Roger S. Berkowitz, a Class B Director, is president and chief executive officer of Legal Sea Foods, a seafood company with over thirty restaurant locations, a wholesale business and a mail order division. Berkowitz is a member of the board of directors for the Regional Selection Panel for the President's Commission on White House Fellowships. He was appointed to the Special Commission on Seafood Marketing by the Governor of Massachusetts, is a member of the Massachusetts Workforce Training Fund Advisory Committee, and a past president of the Massachusetts Restaurant Association. He also serves on the board of directors for Dana-Farber Cancer Institute, is a trustee of Suffolk University, and serves on the Leadership Council at the Harvard School of Public Health, among other non-profit boards. Berkowitz is a past member of the Federal Reserve Bank of Bostons New England Advisory Council.
- Christina Hull Paxson, Ph.D., a Class B Director, is president of Brown University and Professor of Economics and Public Policy. Prior to her appointment as president in 2012, she was dean of the Woodrow Wilson School of International and Public Affairs and the Hughes Rogers Professor of Economics and Public Affairs at Princeton University. While at Princeton, Dr. Paxson also served as chair of the Department of Economics, was the founding director of a National Institute on Aging Center for the Economics and Demography of Aging, and a founder of the Center for Health and Wellbeing. She served as vice president of the American Economic Association in 2012, and is a member of the Council on Foreign Relations.
- Laura J. Sen, a Class B Director, is president and chief executive officer of BJs Wholesale Club, a leading operator of membership warehouse clubs in the eastern United States. Prior to this role, Sen spent more than 20 years at the company in a broad range of senior management roles, including chief operating officer and executive vice president of merchandising and logistics. Sen serves as chair of the board of Pine Street Inn, is an executive committee member of the National Retail Federation, and is a member of the board of MassMutual, Dana-Farber Cancer Institute, EMC, and the Boston Ballet.
- Phillip L. Clay, Ph.D., a Class C Director, served as chancellor of the Massachusetts Institute of Technology from 2001 to 2011. Dr. Clay also held other leadership positions at MIT and was department head at the Department of Urban Studies and Planning where he has been a faculty member since 1976. Clay is known for his work in U.S. housing policy and community-based organizational development. He is chair of the board of The Community Builders, Inc., and serves on the board of trustees of the Kresge Foundation. Clay is also a trustee of the Aga Khan University in Pakistan.
Federal Advisory Council Representative
- Richard E. Holbrook, chairman and chief executive officer of Eastern Bank Corporation, serves as the Federal Advisory Council (FAC) representative for the First Federal Reserve District. The FAC, which consists of one banker from each of the 12 Federal Reserve Districts, meets quarterly to discuss business and financial conditions with the Federal Reserve Board of Governors in Washington, D.C.
Holbrook also serves on the executive committee of the Boston Chamber of Commerce and is the former chair of the Massachusetts Bankers Association. He is chair of the Mutual Institutions Council of the American Bankers Association. Holbrook serves on the board of directors of Partners HealthCare, Inc., and of Jobs for Massachusetts, and is chairman of the board of trustees of the North Shore Medical Center.
About the Federal Reserve Bank of Boston's Board of Directors
The Federal Reserve Act requires that each Reserve Bank have nine directors. Three Class A Directors represent member banks in the district; three Class B Directors, and three Class C Directors are selected with due consideration to the interests of agriculture, commerce, industry, services, labor, and consumers. Member banks elect Class A and Class B Directors. The Board of Governors of the Federal Reserve System in Washington, D.C. appoints Class C Directors and from this group designates the Chair and Deputy Chair.
Additional information about the structure of the Federal Reserve and Reserve Bank boards of directors may be found here.