Last Updated: 08/25/15
News Release: Chicago Fed Announces New First Vice President
Chicago Fed Announces New First Vice President
CHICAGO- (August 25, 2015) – The Federal Reserve Bank of Chicago is pleased to announce the appointment of Executive Vice President Ellen Bromagen as First Vice President and Chief Operating Officer (COO) effective Sept. 1, 2015.
Ellen succeeds Gordon Werkema, who earlier this year was named the Federal Reserve’s Payments Strategy Director after nearly 15 years of distinguished service as the Seventh District’s First Vice President.
A proven leader with a strong track record, Ellen has exceptional insight in Federal Reserve System financial services and a deep understanding of the Bank’s internal operations. She brings vast experience in large program management and proven success leading the Federal Reserve System Customer Relations and Support Office (CRSO).
As First Vice President, Ellen will be responsible for oversight of financial management, information technology services, payments, legal, human resources and corporate development functions of the Federal Reserve’s Seventh District. She will also serve as the Product Director of CRSO and act as a key strategic contributor to Federal Reserve Financial Services success.
Ellen joined the Bank in 1990 and has held a variety of management positions during her tenure. She was promoted to assistant Vice President, Accounting, in 1998 and joined the Customer Relations and Support Office in 2003. She was promoted to Vice President in 2004 with the responsibility for financial planning and revenue management, and in 2006, assumed responsibility for FedLine Program Management. She was promoted to Senior Vice President in 2008 and Executive Vice President in 2012.
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Federal Reserve Bank of Chicago Background
The Federal Reserve Bank of Chicago is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation’s central bank. The Chicago Reserve Bank serves the seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and the state of Iowa. In addition to participation in the formulation of monetary policy, each Reserve Bank supervises member banks and bank holding companies, provides financial services to depository institutions and the U.S. government, and monitors economic conditions in its District.
Ellen succeeds Gordon Werkema, who earlier this year was named the Federal Reserve’s Payments Strategy Director after nearly 15 years of distinguished service as the Seventh District’s First Vice President.
A proven leader with a strong track record, Ellen has exceptional insight in Federal Reserve System financial services and a deep understanding of the Bank’s internal operations. She brings vast experience in large program management and proven success leading the Federal Reserve System Customer Relations and Support Office (CRSO).
As First Vice President, Ellen will be responsible for oversight of financial management, information technology services, payments, legal, human resources and corporate development functions of the Federal Reserve’s Seventh District. She will also serve as the Product Director of CRSO and act as a key strategic contributor to Federal Reserve Financial Services success.
Ellen joined the Bank in 1990 and has held a variety of management positions during her tenure. She was promoted to assistant Vice President, Accounting, in 1998 and joined the Customer Relations and Support Office in 2003. She was promoted to Vice President in 2004 with the responsibility for financial planning and revenue management, and in 2006, assumed responsibility for FedLine Program Management. She was promoted to Senior Vice President in 2008 and Executive Vice President in 2012.
# # # #
Federal Reserve Bank of Chicago Background
The Federal Reserve Bank of Chicago is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation’s central bank. The Chicago Reserve Bank serves the seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and the state of Iowa. In addition to participation in the formulation of monetary policy, each Reserve Bank supervises member banks and bank holding companies, provides financial services to depository institutions and the U.S. government, and monitors economic conditions in its District.
