Presidential Search

Updates

August 2, 2023

The Federal Reserve Bank of Kansas City’s Board of Directors announced that Jeffrey R. Schmid, president and chief executive officer of the Southwestern Graduate School of Banking Foundation at Southern Methodist University’s Cox School of Business, has been appointed president and CEO of the Kansas City Fed, beginning August 21, 2023. Read the full release here.

April 18, 2023

The following statement was issued by the Federal Reserve Bank of Kansas City:
Selecting a Reserve Bank president involves several steps that are established by the Federal Reserve Act. While there is no deadline associated with this process, the search committee has been diligently working to identify a candidate who is well-equipped to engage with the Tenth District’s communities and understand its economic profile, lead the Bank’s portfolio of regional and national responsibilities, and is compliant with the appropriate personal financial holding restrictions required for this unique role.

January 12, 2023

As announced in May 2022, the Federal Reserve Bank of Kansas City’s presidential Search Committee is working to identify a successor to President and CEO Esther George, who faces mandatory retirement due to age limits established by the Federal Reserve’s Board of Governors. The Search Committee is assessing candidates based on the criteria included in the External Linkjob description that is posted on the Kansas City Fed’s website. Because the focus is on identifying the best candidate for this role, there is no deadline associated with this process.

The Kansas City Fed’s Board of Directors and the Federal Reserve System’s Board of Governors have established Jan. 31, 2023, as the final day of President George’s term as president. In the event that a new president is not selected by the Kansas City Fed’s Board of Directors and approved by the Board of Governors by then, the Bank’s first vice president will assume the duties of the president, following the process established by the Federal Reserve Act and the Bank’s bylaws.

July 13, 2022

The Federal Reserve Bank of Kansas City’s presidential Search Committee hosted a virtual community town hall on July 13 to address questions and provide an update on its search for a successor to President and CEO Esther George. Watch a recording of the event External Linkhere.

Overview

As outlined by requirements for Reserve Bank presidents, Esther George, Former President and CEO of the Federal Reserve Bank of Kansas City, retired in early 2023 after she reached age 65.

Under a process that is prescribed by the Federal Reserve Act, the Kansas City Fed’s Board of Directors formed a search committee for the next Bank president. The committee consists of the Bank’s Class B and C directors, who represent the public. These directors are not affiliated with the banking industry. Read more about the Reserve Bank search process External Linkhere.

The Search Committee diligently conducted a nationwide search aiming to identify a diverse, highly qualified, and broad pool of candidates. Its work was supported by Egon Zehnder, a global leadership advisory and executive search firm.

At the conclusion of the search, the Kansas City Fed’s nonbanker Class B and C directors appointed the new president. The appointment is subject to the approval of the Federal Reserve Board of Governors in Washington, DC.

María Griego-Raby, president and principal of Contract Associates in Albuquerque, New Mexico, served as chair of the Search Committee. Learn more about the Search Committee here.

Media Contacts: Bill Medley and Victoria Rosengarten

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