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Photo of Mark Mullinix

Jan. 4, 2018

Richmond Fed’s Mullinix to Retire in June

The Federal Reserve Bank of Richmond announced that after three decades of service, former interim president and chief executive officer, Mark Mullinix, will retire in June 2018. Mullinix joined the Richmond Fed as the Bank’s first vice president and chief operating officer in June 2013, and has served since April 2017 as both the organization’s chief executive officer and chief operating officer.

“I am grateful for Mark’s long and distinguished service to the Federal Reserve,” said Janet Yellen, chair of the Board of Governors of the Federal Reserve System. “Mark has made enormous contributions to our public mission, and I have enjoyed working with him both in San Francisco and at the FOMC. I wish him the very best in his future endeavors.”

Mullinix’s experience spans strategy, policy, technology programs, and operations. He represented the Fifth Federal Reserve District on the Federal Open Market Committee, contributing to the formulation of monetary policy. He has led the Richmond Fed's more than 2,700 employees, who together contribute to the Bank’s public service mission in the areas of economic research, banking supervision, payments, community development, corporate support services, and the Federal Reserve System’s information technology services.

“Mark is an outstanding leader who has achieved a high level of success in a wide variety of assignments inside the Fed,” said Robert Kaplan, president and chief executive officer of the Dallas Fed. “He has a long history of successfully leading large and complex programs and organizations, and consistently inspired his people to contribute their best to the organization. Mark is a transformative executive with a clear vision and keen sense of how to get things done. As an FOMC colleague and a member of the Federal Reserve’s Information Technology Oversight Council, it has been my honor to work with Mark. His many contributions to the Federal Reserve will be enduring.”

Prior to joining the Richmond Fed, Mullinix served the Federal Reserve Bank of San Francisco as its chief financial officer and executive-in-charge of Fed services covering Southern California, Arizona, and southern Nevada. Later he became the Bank’s executive vice president responsible for the Federal Reserve’s cash services, leading the formulation of policies and business and technology strategies to meet demand for U.S. currency globally that today surpasses $1.5 trillion in circulation.

He began his Fed career at the Kansas City Fed in 1986, excelling in leadership roles in payment services, as well as corporate support services and discount window operations. Prior to joining the Fed, Mullinix served eight years as a Marine Corps infantry commander. He continued to serve in the Marine Corps Reserve and retired at the rank of lieutenant colonel.

Mullinix currently serves as co-chair of the Capital Region Collaborative Organizing Council in Richmond, Va., the Greater Richmond and Petersburg United Way, and the Executive Advisory Council of the Robins School of Business for the University of Richmond. He has previously served on numerous community and non-profit boards, including the Arizona Council on Economic Education, Junior Achievement of Southern California, Women Unlimited of San Francisco, and Claremont Graduate University’s Tomas Rivera Policy Institute.

Mullinix earned his bachelor’s degree from the University of Kansas and a master’s degree from the Fletcher School of Law and Diplomacy at Tufts University. He is also a graduate of the University of Wisconsin’s Graduate School of Banking.


As part of our nation’s central bank, the Richmond Fed is one of 12 regional Reserve Banks working together with the Board of Governors to support a healthy economy and deliver on our mission to foster economic stability and strength. We connect with community and business leaders across the Fifth Federal Reserve District—including the Carolinas, District of Columbia, Maryland, Virginia, and most of West Virginia—to monitor economic conditions, address issues facing our communities, and share this information with monetary and financial policymakers. We also work with banks to ensure they are operating safely and soundly, supply financial institutions with currency that’s fit for distribution, and provide a safe and efficient way to transfer funds through our nation’s payments system.

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