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Three Reserve Banks Host Supplier Diversity Summit

By Robert Holland

Diverse suppliers who serve an area that spans Philadelphia to New Orleans to Miami learned about three Federal Reserve Banks, how to do business with us and participated in matchmaking sessions in the first-ever MidAtlantic & Southeast Regional Supplier Diversity Summit on October 13.

Our Bank partnered with the Federal Reserve Banks of Atlanta and Philadelphia to host the Summit, a collaboration aimed at increasing spending and engagement with diverse vendors to help support our local and national communities. The virtual event introduced diverse-owned businesses to our Banks, matched them with specific vendor opportunities with us, and provided information and insight into how to register with our Banks’ procurement systems so they have greater opportunities to succeed in working with us.

“Our three Reserve Banks do business with many of the same suppliers, have similar supplier diversity goals and partner with many of the same advocacy organizations to develop supplier sourcing opportunities,” said David LeFebvre, supplier diversity program lead for the Richmond Fed. “It makes strategic sense for us to combine our efforts and broaden the scope of what each of us is already doing.”

Potential vendors heard from several Federal Reserve economists, participated in a listening session, and joined virtual round table discussions that allowed the Banks' sourcing specialists and business line representatives to meet with multiple suppliers.

“The Regional Summit speaks to our commitment to equity for racial minority and women business owners who don’t always have access to opportunities like this,” noted Nancy Bonner, procurement and vendor relations manager for the Philadelphia Fed. “And for our Banks, it helps drive competition on price and service quality.”

Cameron Boli, supplier diversity program manager for the Atlanta Fed, has experience in the field but is new to the Fed. He said he was excited about the three Reserve Banks collaborating on something new.

“It’s exciting to take an outreach event that Reserve Banks have done before and growing it,” he said. “I believe all three Banks benefit from a variety of perspectives and experience as well as hearing new ideas as we broaden our supplier base.”

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