The Federal Reserve Bank of Boston is pleased to announce the promotions of two officers to new positions: Jackie Palladino, to executive vice president and chief administrative officer, and Alan Bloom, to senior vice president and business integration lead for the FedNow initiative.

Jackie Palladino has spent more than 20 years in the Boston Fed’s Supervision, Regulation & Credit group evaluating the condition of banking organizations located in New England, analyzing mergers and acquisitions, and managing the discount window, a central banking lending program for depository institutions. In 2011, she began overseeing a number of key corporate functions at the bank, including human resources, communications, corporate strategy and risk, and corporate affairs. In her new role as chief administrative officer, Palladino is responsible for the day-to-day administration of the Boston Fed.

Alan Bloom has been a key contributor to the Federal Reserve System for more than 38 years. Bloom started his career at the Federal Reserve Bank of New York before joining the Boston Fed in 1987. He has held a variety of positions with increasing responsibility, most recently serving as chief technology officer in the Federal Reserve’s Financial Support Office. In his new role, Bloom will be responsible for the integration of the Federal Reserve’s real-time payments service, FedNow, into the Federal Reserve’s payments and financial ecosystem. This includes coordination of new and modified interfaces to and from partner application systems, as well as changes to policies or procedures in other business areas that are a result of FedNow.

The Federal Reserve Bank of Boston is one of 12 regional banks that, together with the Federal Reserve Board of Governors in Washington, D.C., make up the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates and implements U.S. monetary policy, supervises banks and bank holding companies, and provides financial services to depository institutions and the federal government.

The Boston Federal Reserve Bank serves the First Federal Reserve District, which includes all of New England except Fairfield County, Connecticut. Within the District, the Bank monitors local economic conditions to aid in the formulation of monetary policy; engages in outreach to promote economic growth and community revitalization; supervises banks and bank holding companies; and provides financial services to facilitate banking operations.