The Federal Reserve Bank of Richmond has announced that Mark L. Mullinix is the organization's newly-named first vice president and chief operating officer. Mullinix will oversee the financial services and support areas of the Bank's Fifth District operations beginning June 1, 2013. In this role, he will work with the Bank's leadership in setting strategic vision and business objectives and will work with other first vice presidents within the Federal Reserve System to lead operational strategy and policy. Mullinix succeeds Sally Green, who is retiring in May 2013, after an impressive Federal Reserve System career that has spanned more than 35 years.
Mullinix currently serves as an executive vice president with the Federal Reserve Bank of San Francisco where he is responsible for the System's Cash Product Office and the Los Angeles branch. He is well-respected throughout the Federal Reserve System for his knowledge and leadership in national financial services policy and cash services.
Mullinix began his distinguished Fed career at the Kansas City Federal Reserve Bank in 1986 as a check service supervisor. In 1994, he moved to the Bank’s Oklahoma City branch as vice president and branch manager with responsibility for check and cash services, local support services and discount window operations; he then headed to the Los Angeles branch of the San Francisco Fed in 1996 to serve as the Bank's senior vice president-in charge of all branch operations. During his tenure with San Francisco, Mullinix has taken on increasing responsibilities and held various positions in the Reserve Bank's payments services, finance, information technology and administrative areas and as a member of its executive committee. In 2000, he was named to his current role as an executive vice president with the Federal Reserve Bank of San Francisco.
At the Federal Reserve System level, Mullinix has also been influential — recently chairing the Cash Advisory Group, the Cash Customer Advisory Council and National Armored Carrier Forum. He is a member of the Fed's Financial Services Council.
"I have dedicated my career to the Federal Reserve System, and I believe deeply in our work to serve the public. At the San Francisco Fed, I've been fortunate to lead a highly professional team in our cash services area and to have been afforded a number of opportunities that have well-prepared me for my next role as the chief operating officer of the Richmond Fed," noted Mullinix. " I'm looking forward to working with another dedicated team as we continue to strengthen our Bank's operational performance — and am excited to learn more about my new hometown and engage with people inside and outside of our Bank."
During his career, Mullinix has been a passionate community advocate, serving on the boards of the Los Angeles and Oklahoma City United Way organizations, Junior Achievement of Southern California and the Arizona Council on Economic Education. He has also been engaged with the Marine Corps Scholarship Foundation, Women’s Unlimited of San Francisco and Claremont Graduate University's Tomas Rivera Policy Institute.
Richmond Fed President, Jeff Lacker, added, "I am very pleased that Mark is joining us to serve the Fifth District. He is a dedicated and experienced central banker who has clearly demonstrated his commitment to the Fed’s mission, our people and our communities. With his support and leadership, the Richmond Reserve Bank will continue to strengthen our work for America's economy."
The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.