The Federal Reserve Bank of Boston announced the election of three new members to its Board of Directors and the reelection of a current member:
Peter L. Judkins has been elected a Class A Director. Mr. Judkins is President and Chief Executive Officer of Franklin Savings Bank.
Roger S. Berkowitz has been elected a Class B Director. Mr. Berkowitz is President and Chief Executive Officer of Legal Sea Foods, LLC.
Gary L. Gottlieb has been elected a Class B Director. Dr. Gottlieb is President and Chief Executive Officer of Partners HealthCare System Inc. in Boston.
Also, Kathryn G. Underwood has been reelected a Class A Director. She is President and Chief Executive Officer of Ledyard National Bank. Ms. Underwood has been a director of the Federal Reserve Bank of Boston since 2009 and is currently the Chair of the Audit Committee.
The Federal Reserve Act requires that each Reserve Bank has 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. The 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.