The Federal Reserve Bank of New York announced that the Board of Governors of the Federal Reserve System has designated Pat Wang as chair of the New York Fed’s Board of Directors and Dr. Rajiv Shah as deputy chair. Wang is president and chief executive officer of Healthfirst and joined the New York Fed’s Board as a Class C director in January 2023, having served as deputy chair since January 2024. Shah is president of The Rockefeller Foundation and joined the Board as a Class C director in January 2024. The release also reiterated that, under the Federal Reserve Act of 1913, each Reserve Bank operates under a nine-member board of directors divided equally among Class A, Class B, and Class C directors.
Federal Reserve Bank of New York 2025-01-13
Federal Reserve Bank of New York announces Board of Governors designations of Pat Wang as board chair and Rajiv Shah as deputy chair
The Federal Reserve Bank of New York has appointed Pat Wang as chair and Dr. Rajiv Shah as deputy chair of its Board of Directors. Wang, CEO of Healthfirst, has been a Class C director since January 2023, while Shah, president of The Rockefeller Foundation, joined as a Class C director in January 2024.