BOSTON – The Federal Reserve Bank of Boston and Meghan Hughes, Ph.D., announced today that she would leave the Boston Fed's board of directors, in advance of beginning a new role at Bank of America leading its enterprise workforce development strategy as well as arts, culture, and heritage.

Hughes joined the Boston Fed's board of directors in January, while president of the Community College of Rhode Island. Federal Reserve Bank boards of directors, as laid out in U.S. law and the reserve bank's bylaws, include three directors representing member banks and six directors representing the public (with consideration of agriculture, commerce, industry, services, labor, and consumers).

"I have valued being a board member at the Boston Fed this year, and have the greatest respect for the work president Susan Collins and her team are leading on behalf of New England," said Hughes.

"Meghan's perspective at the forefront of workforce development and accessible higher education have been so valuable to us as we work to support a vibrant economy that works for everyone," said Collins. "We really do appreciate her service on our board."

Additional information about the structure of the Federal Reserve and Reserve Bank boards of directors can be found here.