Jeff Schmid is president and chief executive officer of the Federal Reserve Bank of Kansas City, where he leads a workforce of 2,000 people located in offices in Kansas City, Denver, Oklahoma City, and Omaha.
Schmid has more than 40 years of experience in banking and banking supervision. Prior to joining the Kansas City Fed in August 2023, he served as the president and CEO of the Southwestern Graduate School of Banking Foundation at Southern Methodist University’s Cox School of Business, where he led the Foundation’s efforts to provide career development and education for banking professionals.
Schmid began his career in 1981 as a field examiner in the Federal Deposit Insurance Corporation’s Kansas City office. From 1989 to 2007, he served as president of American National Bank in Omaha, Nebraska, growing the bank from $500 million to $1.5 billion in assets. In 2007 he was selected by Mutual of Omaha to lead the 100-year-old insurance provider’s entry into the banking sector. As chairman and CEO of Mutual of Omaha Bank, Schmid led the institution’s growth from $700 million to nearly $9 billion in assets with nearly 2,000 employees before it was sold to CIT Bank in 2019.
As president of the Kansas City Fed, Schmid represents the Tenth Federal Reserve District on the Federal Open Market Committee, which sets monetary policy for the United States. Schmid participates in each FOMC meeting and will be a voting member in 2025, following the established rotation schedule for Federal Reserve Banks. He also hosts the Jackson Hole Economic Policy Symposium, an annual event in Wyoming that brings together international central bankers, academics, policymakers, and others who convene to discuss economic and financial issues of mutual concern.
Jeff is a graduate of both the University of Nebraska-Lincoln, where he received a bachelor’s degree in business administration and the Southwestern Graduate School of Banking at SMU. He is a native of Nebraska.
The Kansas City Fed is responsible for conducting monetary policy, providing financial services to depository institutions and the U.S. Treasury, and supervising nearly 1,000 banking organizations within a seven-state region that includes western Missouri, Kansas, Nebraska, Oklahoma, Colorado, Wyoming, and northern New Mexico. The Tenth District has a diverse economic profile that includes a mix of agriculture, energy, manufacturing, tourism, real estate, and small business, and has a large number of community banking organizations.
See Jeff Schmid’s financial disclosure form PDFhere