Presidential Search

The Federal Reserve Bank of Richmond has launched the search for a new president following the announcement that Richmond Fed President Jeffrey M. Lacker will retire in 2017.

The Search for a Richmond Fed President

Margaret Lewis, Chair of the Board of Directors for the Federal Reserve Bank of Richmond, discusses the search for a new president.


Federal Reserve Bank of Richmond President and CEO Jeffrey M. Lacker has announced that he plans to retire on October 1, 2017, after 28 years of public service at the Richmond Bank. Dr. Lacker joined the Richmond Fed in 1989 and served in various leadership positions prior to becoming president and CEO in August 2004.

Board Chair Margaret Lewis will lead a committee of the Class B and C directors of the Federal Reserve Bank of Richmond (those directors who are not bankers) to conduct a nationwide search to identify a broad, diverse, and highly qualified candidate pool for the next president. The search firm of Heidrick & Struggles has been engaged to assist the committee. Applicants from both inside and outside the Federal Reserve System can apply.

The search committee will interview the top candidates and select a finalist. The Board of Governors of the Federal Reserve System will then interview the final candidates. Subject to Board of Governors' approval, the Bank's Class B and C directors will appoint the new president.

Search Committee

Photo of Margaret Lewis

Margaret G. Lewis (Chair of the Board)
Retired President
HCA Capital Division
Richmond, Virginia

Calvin G. Butler Jr.

Calvin G. Butler Jr.
CEO, Baltimore Gas and Electric Company (BGE)
Baltimore, Maryland

Photo of Thomas Nelson

Thomas C. Nelson
Chairman, President & CEO
National Gypsum Company
Charlotte, North Carolina

Photo of Kathy Warden

Kathy J. Warden 
Corporate Vice President & President, Mission Systems
Northrop Grumman Corporation
Linthicum, Maryland

How is a Federal Reserve Bank president selected?

This brief, animated video explains the roles and process involved in selecting a new Federal Reserve Bank president. Courtesy of Federal Reserve Bank of Minneapolis.

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