Firm Selected to Assist with Search for New Chicago Fed President
The executive search firm of Spencer Stuart has been selected to assist in identifying candidates for the successor to Federal Reserve Bank of Chicago President and CEO Michael Moskow, who is retiring in August.
In keeping with Federal Reserve mandatory retirement policy, Moskow will step down August 31 after 13 years of service to the bank and the Federal Reserve System.
The firm was selected by a four-person search committee made up of members of the bank's board of directors and the board of its Detroit Branch. This committee includes:
- Miles White, chairman and CEO of Abbott Laboratories in Abbott Park, Illinois. White is chairman of the Federal Reserve Bank of Chicago Board of Directors and leads the search committee.
- John Canning, chairman and CEO of Chicago-based Madison Dearborn Partners, LLC. Canning is deputy chairman of the Federal Reserve Bank of Chicago Board of Directors.
- Valerie Jarrett, president and CEO of the Chicago-based Habitat Company. Jarrett is a member of the Federal Reserve Bank of Chicago Board of Directors.
- Ralph Babb, chairman, president and CEO of Detroit-based Comerica Incorporated. Babb is a member of the Federal Reserve Bank of Chicago's Detroit Branch Board of Directors.
For more information or to make inquiries about the position please call Kevin Connelly at Spencer Stuart at (312) 321-8326.
The Federal Reserve Bank of Chicago is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., constitute 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.