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Federal Reserve Banks

President, State Federation
Mark T Gaffney
Number of Employees 2,145
Contact Information

230 South La Salle St

Chicago, Illinois 60604

www.chicagofed....

(312) 322-5322

NAICS Code Monetary Authorities-Central Bank: 521110

Recent Events

  • Bank Watch: FBOP Flops; U.S. Bank Takes Over $18.2 Billion in Assets

    11/05/09 - Joint Venture / Alliance - View Story

  • DIARY-U.S. Treasuries, Monday, Oct. 26

    10/23/09 - Product Announcement - View Story

  • Fed enters agreement with BOI Financial

    10/14/09 - Joint Venture / Alliance - View Story

  • CBR Holdings enters agreement with Fed

    10/13/09 - Joint Venture / Alliance - View Story

  • DIARY-U.S. Treasuries, Wednesday, Sept. 30

    9/29/09 - Product Announcement - View Story

  • USG chief named local Fed's board chairman

    9/15/09 - Board Member - Entering - View Story

  • USG chief executive named Chicago Fed board chairman

    9/14/09 - Board Member - Entering - View Story

  • FBOP Corp. tells Fed it will boost capital

    9/14/09 - Joint Venture / Alliance - View Story

  • Market Report -- In Play AMFI

    6/26/09 - Joint Venture / Alliance - View Story

  • UPDATE 1-Corus hires BofA to help find capital, buyer-Bloomberg

    6/04/09 - Joint Venture / Alliance - View Story

News & Analysis

federal reserve bank of chicago - All News and Analysis

Decision Makers

Name (plus bio) Position
Mark T Gaffney President, State Federation
Charles Evans Chief Economist
Gordon Werkema Chief Operating Officer
Angela Robinson Senior Vice President
Barbara Benson Senior Vice President, Strategic Planning, People Practices
Cathy Lemieux Senior Vice President
Daniel Sullivan Senior Vice President
David Marshall Senior Vice President, Financial
Elizabeth Knospe Senior Vice President
G. Wiley Senior Vice President, Services
Glenn Hansen Senior Vice President
Margaret Koenigs Senior Vice President
Robert (Bob) G. Wiley Senior Vice President, Financial
Spencer Krane Senior Vice President
Alicia Williams Vice President
Bill Testa Vice President
Daniel Aaronson Vice President
Douglas Evanoff Vice President
Jonas Fisher Vice President
Jonathan Sudduth Assistant Vice President
Richard Porter Vice President
Frank Lopez Director, Communications
Tim Grzesiakowski Director, Marketing
Tim Schilling Director of Economic & Financial Education
Robert DiCianni Manager, Marketing
Robert Schainker Product Manager
Anna Paulson Senior Financial Economist
David Oppedahl Economist
Eric French Senior Economist
Gregory F Udell consultant
Jeffrey Campbell Senior Economist
Jim Barrett Research Assistant
June Kim Associate Economist
Lawrence J Christiano consultant
Leslie McGranahan Economist
Luca Benzoni Senior Financial Economist
Nicholas Buchholz Senior Associate Economist
Paul Huck Senior Economist
Richard Rosen Advisor
Rick Mattoon Senior Economist
Robert Lalonde Consultant
Robert Shimer consultant
Robert Townsend consultant
Sumit Agarwal Financial Economist
William Strauss Advisor
Jeff Plagge Director
John A Canning Director
Linda Likely Director
Michael L. Kubacki Director
Michael M Magee Director
Valerie B. Jarrett Director
William A. Osborn Director
Bill Barouski Member Management Committee.
Gerald Beeson Member, Financial Markets Working Group

Board of Directors

Name (plus bio) Position
William C. Foote Deputy Chairman of The Board
Ann D. Murtlow Board of Directors
Carl T. Camden Board of Directors
David Hale Academic Advisory Board
Mark C Hewitt Board of Directors
William R. Hartman Board of Directors

Organization Position Status
Michigan State AFL-CIO President Current
Blue Cross & Blue Shield of Michigan President, Michigan State AFL, CIO Current
Federal Reserve Bank of Chicago President, State Federation Current
Blue Shield LLC Director Current
Blue Cross & Blue Shield of Michigan Board of Directors Current
Federal Reserve Bank of Chicago Director Current
Greatlakesfreighters NA Former
Michigan State University B.A. In Philosophy Former
United Steel Workers of America Member Former

Organization Position Status
Federal Reserve Bank of Chicago Chief Economist Current
Federal Reserve Bank of Chicago Member of the Management Committee Current
Federal Reserve Bank of Chicago Senior Vice President Former
Federal Reserve Bank of Chicago Director of Research Former
University of Chicago Teacher Former
Federal Reserve Bank of Chicago Associate Economist Open Market Committee (Fomc) Former
University of South Carolina Assistant Professor Former
University of Michigan Teacher Former
Carnegie Mellon University Ph.D. In Economics Former
University of Virginia B.A. In Economics Former

Organization Position Status
Chicago Fed First Vice President and Chief Operating Officer Current
Federal Reserve Bank of Chicago Chief Operating Officer Current
Federal Reserve Bank of Chicago Member, Executive Committee. Current
Federal Reserve Bank of Chicago Vice President Former
Federal Reserve Bank of Chicago Federal Reserve System Product Director Former
Federal Reserve Bank of Chicago Federal Reserve System Committee Former
Seattle Pacific University Undergraduate Degree Former
The Johns Hopkins University Master's Degree Former
Federal Reserve Bank of San Francisco Former
Federal Reserve Bank of Richmond Former
The Johns Hopkins University Master's Degree With Honors Former
Seattle Pacific University degree in political science and economics Former

Organization Position Status
Federal Reserve Bank of Chicago Senior Vice President Current
Federal Reserve Bank of Chicago Member of the Management Committee Current
Federal Reserve Bank of Chicago Director of the Statistics Division Former
Federal Reserve Bank of Chicago Opportunity Officer Former
Federal Reserve Bank of Boston Bank Examiner Former
Western Michigan University Undergraduate Degree Former

Organization Position Status
Chicago Fed Senior Vice President, Strategic Planning, People Practices, and Internal Communications Current
Federal Reserve Bank of Chicago Senior Vice President, Strategic Planning, People Practices Current
Federal Reserve Bank of Chicago Member of Management Committee. Current
Federal Reserve Bank of Chicago Head of the Human Resources Former
Brown University Bachelor's Degree In History Former
Northwestern University Mat In Education Former

Cathy Lemieux is senior vice president in charge of Supervision and Regulation at the Federal Reserve Bank of Chicago. Cathy directs the supervision and regulation of more than one thousand banking organizations including state-chartered member banks, bank holding companies, financial holding companies, and U.S. foreign bank branches within the Seventh Federal Reserve District. Additionally, she chairs the System's Regional Banking Organization (RBO) group, serves as the chair of the Federal Reserve System Subcommittee implementing Basel II training, and is a member of the Basel Implementation Council. Cathy began her career with the Federal Reserve System at the Kansas City Fed in 1990. She joined the Chicago Reserve Bank as a senior examiner in 1996, and has assumed a number of management positions of increasing responsibility within the department. Cathy has over thirty years experience in the industry, serving as a lender, professor, policy analyst, and bank regulator. She holds a Ph.D. from Texas A&M University.

Organization Position Status
Chicago Fed Senior Vice President of Supervision and Regulation Current
Federal Reserve Bank of Chicago Senior Vice President Current
Federal Reserve Bank of Chicago Policy Analyst Former
Federal Reserve Bank of Chicago Chair System Subcommittee Former
Texas A&M University PH.D. Former

Daniel G. Sullivan is director of research and senior vice president at the Federal Reserve Bank of Chicago. Sullivan serves as chief economist and as a member of the Management Committee. He oversees the Bank's research in monetary policy, banking and financial markets, and regional economics. In addition, he has supervisory responsibility for the Bank's Consumer and Community Affairs unit and the Public Affairs Department. Sullivan also serves as an associate economist on the Federal Open Market Committee (FOMC), the group responsible for formulating national monetary policy. Prior to his appointment as research director, Sullivan served as a senior economist and vice president in the Economic Research Department at the Chicago Fed. He was the team leader of the applied microeconomics team. His research is in the area of labor economics, especially issues related to displaced workers and alternative work arrangements. Prior to joining the Chicago Fed, Sullivan was an assistant professor of economics at Northwestern University and has also taught at Princeton University. He has published articles in Econometrica, the American Economic Review, the Journal of Law and Economics, the Journal of Economic Perspectives, the Journal of Industrial Economics and the Journal of Political Economy. Sullivan received a B.A. in mathematics and statistics from the University of Chicago and a Ph.D. in economics from Princeton University.

Organization Position Status
Federal Reserve Bank of Chicago Senior Vice President Current
Chicago Fed Senior Vice President and Director of Economic Research Current
Federal Reserve Bank of Chicago Director of Research Current
Chicago Fed Vice President Former
Chicago Fed Senior Economist Former
Princeton University PH.D. In Economics Former
Princeton University B.A. In Mathematics Former

Organization Position Status
Chicago Fed Senior Vice President of The Financial Markets Group Current
Federal Reserve Bank of Chicago Senior Vice President, Financial Current
University of Chicago Adjunct Professor Current
Federal Reserve Bank of Chicago Vice President Former
Federal Reserve Bank of Chicago Team Leader Former
Northwestern University Faculty Former
University of Chicago Associate Editor Former
Carnegie Mellon University Ph.D. Former
Carnegie Mellon University M.S. Former
Yale University B.A. In Philosophy Former

Elizabeth A. Knospe is senior vice president and general counsel for the Chicago Fed. She leads the Bank's Legal department and provides a wide variety of strategic legal support to the Bank. In addition, she oversees the Bank's Enterprise Risk Management efforts and is a member of the Management Committee. Before assuming her current position, she was vice president and associate general counsel for the Chicago Fed, and handled ongoing interaction with Human Resources on policy issues as well as handling District and System legal issues. Previously, she was assistant vice president and assistant general counsel. She began her career at the Chicago Fed in 1986 as a staff attorney. Knospe received a bachelor's degree in French from Grinnell College, Grinnell, Iowa, and a J. D. from Chicago Kent College of Law at the Illinois Institute of Technology.

Organization Position Status
Chicago Fed Senior Vice President, General Counsel and Secretary Current
Federal Reserve Bank of Chicago Senior Vice President Current
Chicago Fed General Counsel Current
Federal Reserve Bank of Chicago Secretary Current
Federal Reserve Bank of Chicago Member Management Committee Current
Chicago Fed Vice President Former
Federal Reserve Bank of Chicago Enterprise Risk Management Former
Iowa.Com Bachelor's Degree In French Former
Grinnell College Bachelor's Degree In French Former

Organization Position Status
Federal Reserve Bank of Chicago Senior Vice President, Services Current

Organization Position Status
Federal Reserve Bank of Chicago Senior Vice President Current
Federal Reserve Bank of Chicago Board of Directors Current
Federal Reserve Bank of Chicago Detroit Branch Manager Former
Federal Home Loan Bank of Chicago NA Former
Corporation Bank auditor Former
Federal Reserve Bank of Chicago General Auditor Former
Loyola University MBA In Finance Former
Loyola University Chicago bachelor's degree in psychology and an MBA in finance Former
Loyola University Bachelor's Degree In Psychology Former
Harvard Business School Advanced Management Program Former

Margaret K. Koenigs (Peg) is senior vice president and general auditor of the Federal Reserve Bank of Chicago. She reports to the Audit Committee of the Bank's Board of Directors. She is responsible for the Bank's Audit department which provides an independent assessment of the system of internal control in operations, financial reporting, and regulatory and legal compliance. Before assuming her current role, Koenigs served in a number of capacities at the Chicago Fed. She was vice president of Human Resources, responsible for the Compensation, Benefits, and Staffing and Training divisions. She also served as assistant vice president of Financial and Management Services with responsibility for Accounts Payables, Budget and Payroll functions. Koenigs started at the Fed in 1983 as a budget analyst. Before coming to the Fed, Koenigs was a cost analyst at the Chicago and Northwestern Railroad. Koenigs received a bachelor's degree in business administration from Michigan State University and a master's degree in business administration from the University of Chicago. She is a Certified Internal Auditor (CIA.)

Organization Position Status
Federal Reserve Bank of Chicago Senior Vice President Current
Chicago Fed Senior Vice President and General Auditor Current
Federal Reserve Bank of Chicago General Auditor Current
Budget Corp Assistant Vice President of Financial and Management Services Former
Northwestern Railroad Analyst Former
University of Chicago Master's Degree In Business Administration Former
Michigan State University Bachelor's Degree In Business Administration Former

Organization Position Status
Federal Reserve Bank of Chicago Senior Vice President, Financial Current
Chicago Fed Current
Federal Reserve Bank of Chicago Member of Management Committee. Current
Wells Fargo Bank Managerial Positions Former
Wells Fargo Bank General Ledger Accounting Former
Saint Mary's College of California Bachelor of Arts Degree Former

Spencer Krane is a senior vice president in the economic research department at the Federal Reserve Bank of Chicago. In this capacity, Krane manages the forecasts and briefings that the staff prepares for Chicago Fed President Charles Evans in advance of each meeting of the Federal Open Market Committee, coordinates other policy analyses for President Evans and conducts research in domestic macroeconomics. Before joining the Chicago Fed in 2001, Krane was on the staff of the Board of Governors of the Federal Reserve System in Washington, DC. Krane's responsibilities included managing part of the team that prepares the Board staff's forecasts of the U.S. economy and conducting research and current analysis in domestic nonfinancial macroeconomics. During his career at the Board of Governors, Krane took one-year leaves of absence to serve as a senior economist on the staff of the President's Council of Economic Advisers (1991 92) and to lecture at the Haas School of Business at the University of California at Berkeley (1988 89). Krane's research has been published in the Journal of Econometrics, the International Economic Review, the Journal of Political Economy, the Journal of Monetary Economics and the Review of Economics and Statistics. Krane received a B.A. in mathematics and economics from Kalamazoo College and a Ph.D. in economics from the University of California at Berkeley.

Organization Position Status
Federal Reserve Bank of Chicago Senior Vice President Current
Chicago Fed Senior Vice President, Economic Research Current
University of California, Berkeley PH.D. In Economics Former
University of California, Berkeley B.A. In Mathematics Former

Alicia Williams is vice president in charge of the consumer and community affairs division in the economic research department of the Federal Reserve Bank of Chicago. Williams is also the Bank's Community Affairs Officer. She has oversight responsibility for the Bank's community affairs program, emerging consumer compliance issues and consumer and community development research. Williams has experience in the regulatory and examination field. While at the Fed, she served as examiner in charge of bank examinations and bank holding company inspections. Williams also served as the officer in charge of the compliance examination division for 12 years. Williams holds a B.B. in finance from Western Illinois University and is a 1997 graduate of Northwestern University's Executive Masters Program.

Organization Position Status
Federal Reserve Bank of Chicago Vice President Current
Chicago Fed Current

Bill Testa is vice president and director of regional programs in the economic research department at the Federal Reserve Bank of Chicago. Testa has written widely in the areas of economic growth and development, the Midwest economy and state local public finance. He directed a comprehensive long term study and forecast of the Midwest economy, Assessing the Midwest Economy: Looking Back for the Future, and has fashioned a series of conferences on school reform. Testa currently serves as economics editor of the Chicago Fed Letter and on the editorial board of Economic Development Quarterly. His weekly "Midwest Economy" web column, which can be found on the Federal Reserve Bank's web site, has become a widely read and nationally quoted feature. Testa also serves in an advisory or director's capacity to a variety of professional journals, nonprofit organizations, advisory boards and economic development initiatives in the Midwest. He chairs the Board of Trustees of the Illinois Council on Economic Education and serves on the boards of the Global Chicago Center of the Chicago Council on Global Affairs and the Economic Development Council of Chicago. Prior to joining the Chicago Fed in 1982, Testa was a visiting faculty member in the economics department at Tulane University in New Orleans and a graduate research fellow at the Academy for Contemporary Problems in Columbus, Ohio. He currently lectures at DePaul University's College of Commerce. A native of Cleveland, Ohio, Testa received his undergraduate degree from Northwestern University in 1975 and a Ph.D. in economics from the Ohio State University in 1981.

Organization Position Status
Federal Reserve Bank of Chicago Vice President Current
Federal Reserve Bank of Chicago Director of Regional Programs Current
Chicago Fed Editor Current
The Ohio State University PH.D. In Economics Former
Northwestern University Undergraduate Degree Former

Daniel Aaronson is a vice president and economic advisor in the economic research department at the Federal Reserve Bank of Chicago. He also leads the microeconomics group. Aaronson conducts research on topics related to labor markets and education. His research has been published in journals such as the Journal of Labor Economics, the Journal of Human Resources,the Journal of Urban Economics and the Review of Economics and Statistics and has also been featured in Chicago Fed research publications, including Economic Perspectives and Chicago Fed Letter. Prior to his current position, Aaronson served as a senior economist and economic advisor in the economic research area. He began his career at the Chicago Fed as a staff economist in 1996. He has also taught at the University of Illinois at Chicago's College of Urban Planning and Public Affairs and Northwestern University's Kellogg School of Management. Aaronson received a B.A. in economics from Washington University in St. Louis and a Ph.D. in economics from Northwestern University.

Organization Position Status
Federal Reserve Bank of Chicago Vice President Current
Federal Reserve Bank of Chicago Advisor Current
Chicago Fed Staff Economist Former
Northwestern University PH.D. In Economics Former
Washington University B.A. In Economics Former

Douglas D. Evanoff is a senior financial economist and vice president in the economic research department of the Federal Reserve Bank of Chicago. As director of the financial studies group, he oversees research on financial markets and regulation. He serves as an advisor to senior management of the Federal Reserve System on regulatory issues and is chairman of the Federal Reserve Bank of Chicago's annual Conference on Bank Structure and Competition. Evanoff also serves as adjunct faculty member in the Graduate School of Business at DePaul University. Evanoff's current research interests include bank cost and merger analysis, financial sector regulatory barriers, payment system mechanisms and accessibility to consumer credit. He has published studies in a wide array of professional journals and books on issues including credit access, bank regulation, industry structure, bank efficiency, payments systems issues and correspondent banking. Evanoff received a Ph.D. in economics from Southern Illinois University.

Organization Position Status
Federal Reserve Bank of Chicago Vice President Current
Chicago Fed Senior Financial Economist Current
Federal Reserve Bank of Chicago Senior Financial Economist Current
The Conference Chairman Former

Jonas D. M. Fisher is a vice president and an economic advisor in the economic research department of the Federal Reserve Bank of Chicago. In this capacity, he leads the macroeconomics group. Fisher conducts research and analysis on macroeconomic topics related to business cycle theory and helps oversee the monthly release of the Chicago Fed National Activity Index, a monthly index designed to better gauge overall economic activity and inflationary pressure. Prior to his current position, Fisher served as a team leader, senior economist and economic advisor in the economic research area. He began his career at the Chicago Fed as a staff economist in 1996. Before joining the bank, Fisher was an assistant professor of economics at the University of Western Ontario. Fisher also served as a visiting associate professor at the Wharton School of the University of Pennsylvania and a visiting scholar at the Institute of Empirical Macroeconomics at the Federal Reserve Bank of Minneapolis. Fisher's research has been published in the American Economic Review, the Journal of Economic Dynamics and Control, the Journal of Economic Theory, the Journal of Monetary Economics, the Journal of Money, Credit and Banking, Macroeconomic Dynamics, the Review of Economic Dynamics and the Review of Economic Studies. Fisher received a B.Sc. in economic and quantitative methods from University of Toronto, an M.A. in economics from Queens University (Kingston, ONT) and a Ph.D. in economics from Northwestern University.

Organization Position Status
Federal Reserve Bank of Chicago Vice President Current
Chicago Fed Vice President Current
Federal Reserve Bank of Chicago Advisor Current
Chicago Fed Staff Economist Former
The University of Western Ontario Assistant Prof Former
Wharton Graduate School of the University of Pennsylvania Associate Prof Former
Northwestern University PH.D. In Economics Former
Queens University M.A. In Economics Former
University of Toronto B.Sc. In Economic and Quantitative Methods Former

Jon Sudduth is the Assistant Vice President at the Federal Reserve Bank of Chicago in charge of the Detroit Cash Operation. Jon has been employed by the Federal Reserve since 1988 and held a variety of management positions within the organization including the Facilities, Protection, Community Outreach and Business Development areas of the Bank. Jon was also the Lead Project Manager for the new Detroit Federal Reserve Building. In addition to serving on the Board of Directors for the Plymouth Educational Center he is on the Board of Director's of the Michigan Council on Economic Education, and is a founding member of the Michigan Jump$tart Coalition. He is a regular classroom instructor for Junior Achievement and served four years as a Senior Quality Examiner for the Michigan Quality Council. Jon is a graduate of Oakland University's School of Economics and Management with a major in Accounting.

Organization Position Status
Federal Reserve Bank of Chicago Assistant Vice President Current
JA Worldwide Regular Classroom Instructor Current
Plymouth Educational Center Board Member Current
Michigan Quality Council Senior Quality Examiner Former

Richard Porter is a vice president and senior policy advisor in the economic research department of the Federal Reserve Bank of Chicago. As director of the payments studies group, he oversees economic research and policy analysis on payments systems. Before joining the Bank, Porter served as an economist at the Board of Governors of the Federal Reserve System for over three decades, most recently as a senior adviser in the Division of Monetary Affairs. Prior to that, Porter was an assistant professor of economics at Ohio State University. Porter has had an active research and policy career. His articles have been published in a variety of scholarly journals including the American Economic Review, Annals of Economic and Social Measurement, Brookings Papers on Economic Activity, Carnegie Rochester Conference on Public Policy, Econometrica, Economic Letters, Economic Modelling, the Journal of Economics and Business, the Journal of Economic Dynamics and Control, the Journal of Monetary Economics and the Journal of Money, Credit, and Banking. He was the recipient of a special achievement award from the Board of Governors for his research at the Board in 1982 and a certificate of appreciation in special recognition of efforts and superior contributions for the International Currency Audit Program to the law enforcement responsibilities of the United States Secret Service in 2000. In May 2004 he was privileged to have the Board of Governors sponsor a festschrift-type conference entitled Models and Monetary Policy: Research in the Tradition of Dale Henderson, Richard Porter, and Peter Tinsley.

Organization Position Status
Federal Reserve Bank of Chicago Vice President Current
Federal Reserve Bank of Chicago Senior Policy Advisor Current
Chicago Fed Current

Organization Position Status
Federal Reserve Bank of Chicago Director, Communications Current
Federal Reserve Bank of Chicago Director, Communications Former

Organization Position Status
Federal Reserve Bank of Chicago Director, Marketing Current
Federal Reserve Bank of Chicago Director, Marketing Former

Tim Schilling is the Associate Director of the Powell Center for Economic Literacy. He comes to the Powell Center after 16 years as Director of Economic & Financial Education for the Federal Reserve Bank of Chicago. Prior to that he was a high school teacher in Michigan, as well as spending time as the program director and then executive director of the Michigan Council on Economic Education. At Powell, he develops content, curriculum and professional development programs for integrating economics in the classroom. This is done through workshops, "Econ-Exchange," his blog, and other venues.

Organization Position Status
Federal Reserve Bank of Chicago Director of Economic & Financial Education Current
Powell Center Associate Director Current
Powell Center Board of Directors Current

Organization Position Status
Federal Reserve Bank of Chicago Manager, Marketing Current

Organization Position Status
Federal Reserve Bank of Chicago Product Manager Current

Anna Paulson is a senior financial economist in the research department of the Federal Reserve Bank of Chicago. Paulson's research focuses on how households cope with risk and incomplete financial markets. Her current research includes studies of the relationship between institutions and financial development and the dynamics of entrepreneurship. Paulson's research has been published in scholarly journals, including the Journal of Political Economy, the Journal of Economic Dynamics and Control and the Journal of Corparate Finance. Before joining the Fed in November 2001, Paulson was an assistant professor in the Finance Department at the Kellogg School of Management. She received a B.A. from Carleton College and a Ph.D. in economics from the University of Chicago.

Organization Position Status
Federal Reserve Bank of Chicago Senior Financial Economist Current
Chicago Fed Current
Cswep Cswep Board Member Current
Kellogg School of Management at Northwestern University Assistant Professor Former
University of Chicago Ph.D. In Economics Former

David Oppedahl is an economist in the economic research department at the Federal Reserve Bank of Chicago. Oppedahl conducts research on the agricultural sector and rural development as well as conducting microeconomic research. He directs the Chicago Federal Reserve District's survey of agricultural banks on agricultural land values and credit conditions and publishes the results in AgLetter the Chicago Fed's quarterly agricultural publication. In addition to his research, he regularly briefs the Chicago Fed's president on the agricultural economy. Before starting his career at the Chicago Fed as an associate economist in 1998, Oppedahl was a consultant in the economic research department at the Federal Reserve Bank of Dallas. While at the Dallas Fed, he provided research support in the area of econometrics. Oppedahl received a B.S. in mathematics from Wheaton College, Wheaton, Illinois, and an M.S. in statistics from the University of Wisconsin-Madison. He also completed graduate-level course work in economics while attending Southern Methodist University.

Organization Position Status
Chicago Fed Associate Economist Current
Federal Reserve Bank of Chicago Economist Current
Federal Reserve Bank of Dallas Consultant Former
Wheaton College B.S. In Mathematics Former

Eric French is a senior economist in the economic research department at the Federal Reserve Bank of Chicago. French provides research and analysis in the areas of econometrics, labor and health economics. French's research has been published in the Review of Economic Studies, Review of Economics and Statistics, the Journal of Labor Economics, Journal of Applied Econometrics, and Journal of Human Resources and is featured in Chicago Fed research publications, including Economic Perspectives and Chicago Fed Letter. He has taught at the Department of Economics at Northwestern University. French received a B.A. in economics from the University of California Berkeley, and M.S. and Ph.D. degrees in economics from the University of Wisconsin Madison. He is on leave at the Social Security Administration from August 2008 through June 2009.

Organization Position Status
Federal Reserve Bank of Chicago Senior Economist Current
Chicago Fed Current
University of California, Berkeley B.A. In Economics Former

Organization Position Status
Federal Reserve Bank of Chicago consultant Current

Jeffrey R. Campbell is a senior economist in the economic research department at the Federal Reserve Bank of Chicago. In that position, Campbell provides research and analysis on econometrics and business cycles. Campbell's research has been published in the American Economic Review and the Review of Economic Dynamics. Before joining the Chicago Fed in July 2002, Campbell was an assistant professor of economics at the University of Chicago. Prior to that, he was an assistant professor of economics at the University of Rochester. In addition to his position at the Chicago Fed, he is a faculty research fellow in the Economic Fluctuations Program at the National Bureau of Economic Research. Campbell received an A.B. in economics from the University of Michigan and a Ph.D. in economics from Northwestern University.

Organization Position Status
Federal Reserve Bank of Chicago Senior Economist Current
Wcnc Current
Chicago Fed Current
Wkyt Former
Northwestern University PH.D. In Economics Former
University of Michigan A.B. In Economics Former
Northwestern University Degree In Journalism and Political Science Former

James Barrett is a Managing Director and Head of Institutional Sales at BNY Asset Management. He directs the Firm's sales efforts, client servicing, consultant relations and RFP communications. Prior to joining BNY Asset Management in 2004, James worked at Northern Trust Global Investments as Director of Sales and Client Servicing. He also held a series of senior roles at ANB Investment Management, including Director of Marketing, Fixed Income Analyst and Economist. James began his career in 1984 as a Research Assistant at the Federal Reserve Bank of Chicago. He graduated with a BS in Economics from Johan Carroll University and obtained an MBA in Economics and Finance from the J.L. Kellogg Graduate School of Management at Northwestern University.

Organization Position Status
Federal Reserve Bank of Chicago Research Assistant Current
Kellogg School of Management at Northwestern University Mba In Economics and Finance Former

June Hyung Kim is an associate economist in the financial markets group of the Federal Reserve Bank of Chicago. His duties include working closely with Adrian D'Silva, conducting economic and statistical analysis of financial markets data and providing analytical and operational support on FMG projects. Previously, Kim worked as a research assistant at the Kellogg Graduate School of Management at Northwestern University and he was an intern at Deloitte & Touche and Goldman Sachs Group. He holds a B.A. in economics and mathematical methods in the social sciences from Northwestern University, where he graduated with honors.

Organization Position Status
Federal Reserve Bank of Chicago Associate Economist Current
Chicago Fed Current

Organization Position Status
Federal Reserve Bank of Chicago consultant Current

Leslie McGranahan is an economist in the in the regional analysis team of the economic research department of the Federal Reserve Bank of Chicago. Her research interests include the effectiveness of antipoverty programs, government expenditure on low income populations and the intergenerational transmission of wealth and inequality. McGranahan's research has been published in journals including the National Tax Journal and the Journal of Political Economy. Her work has also been featured in the Chicago Fed Letter and Economic Perspectives, the Federal Reserve Bank of Chicago's publications. McGranahan returned to the Federal Reserve Bank of Chicago in 2004 after working as a lecturer at the University of Warwick, and as research economist at the Institute for Fiscal Studies in London, England. She received a bachelor's degree in politics from Princeton University and master's and doctorate degrees in economics from Northwestern University.

Organization Position Status
Federal Reserve Bank of Chicago Economist Current
Chicago Fed Current
Northwestern University Doctorate Degrees In Economics Former
Northwestern University Master's Former
Princeton University Bachelor's Degree In Politics Former

Luca Benzoni is a senior financial economist in the economic research department at the Federal Reserve Bank of Chicago. Benzoni's research focuses on the modeling of volatility in equity and interest rate markets, derivatives pricing, asset allocation over the life cycle, and conflict of interest and certification in the U.S. IPO market. Benzoni's research has been published in the Journal of Finance. Before joining the Chicago Fed in September 2006, Benzoni was an assistant professor in finance at the University of Minnesota. Benzoni received a B.A. from Bocconi University (Milan, Italy) and a Ph.D. in finance from the Kellogg School of Management, Northwestern University.

Organization Position Status
Federal Reserve Bank of Chicago Senior Financial Economist Current
Chicago Fed Current
University of Minnesota Assistant Prof Former
Kellogg School of Management at Northwestern University PH.D. In Finance Former
Bocconi University B.A. Former

Nicholas Buchholz is a senior associate economist in the financial markets group of the Federal Reserve Bank of Chicago. His duties include working closely with David Marshall, conducting economic and statistical analyses of financial markets data and providing analytical and operational support on FMG projects. Previously, Buchholz worked as an economic research assistant in the department of general internal medicine at the University of Chicago. He holds a B.A. in economics and a B.S. in mathematics from the University of Chicago, where he received a 2006 D. Gale Johnson Memorial Award for his senior thesis.

Organization Position Status
Federal Reserve Bank of Chicago Senior Associate Economist Current
Chicago Fed Current
University of Chicago B.A. In Economics Former

Paul Huck is a senior economist and economic advisor in the financial markets group of the Federal Reserve Bank of Chicago. Prior to joining the group, he was responsible for a model review team that conducted reviews of quantitative risk management processes at large banks in the supervision and regulation department of the Federal Reserve Bank of Chicago. Huck's research has been published in the Journal of Urban Economics, Law and Society Review and Housing Policy Debate. Prior to coming to the Chicago Fed, Huck was on the faculty of Wake Forest University in Winston-Salem, North Carolina. He received a B.S from Marquette University, an M.B.A. from the University of Washington and an M.A. and Ph.D. in economics from Northwestern University.

Organization Position Status
Federal Reserve Bank of Chicago Senior Economist Current
Chicago Fed Current
Northwestern University PH.D. In Economics Former
Northwestern University M.A. Former
Marquette University B.S Former

Richard J. Rosen is a senior economist and economic advisor in the economic research department at the Federal Reserve Bank of Chicago. In that position, Rosen conducts research on issues relating to financial intermediation, bank regulation, the future of banking and mergers. Rosen's research is published in numerous leading academic journals. Published articles of his research have appeared in the Journal of Finance, the Journal of Financial Economics, the Journal of Business, the Journal of Money, Credit, and Banking and the Rand Journal. Prior to coming to the Chicago Fed, he taught in the finance departments at the Kelley School of Business at Indiana University, the Wharton School at the University of Pennsylvania and the school of business at Georgetown University. He has also worked at the Board of Governors of the Federal Reserve System. Rosen received a B.A. in mathematics from Swarthmore College and a Ph.D. in economics from Princeton University.

Organization Position Status
Federal Reserve Bank of Chicago Advisor Current
Chicago Fed Current
Princeton University PH.D. In Economics Former
Swarthmore College B.A. In Mathematics Former

Rick Mattoon is a senior economist and economic advisor in the economic research department of the Federal Reserve Bank of Chicago. Mattoon's primary research focuses on issues that face the Midwest regional economy. His analysis of electricity restructuring and energy issues, higher education policy, regional economic development and state and local government finance has appeared in numerous publications. Mattoon also serves as a lecturer at the Kellogg School of Management at Northwestern University. Mattoon began his career at the Chicago Fed in 1990. In 1997 he left the bank to serve as a policy advisor for economic development, energy and telecommunications to the Governor of Washington. He later served as director of policy and legislation for the Washington Utilities and Transportation Commission. He returned to the bank in 2001. Mattoon received a B.A. from Kenyon College and an M.A. from the University of Chicago.

Organization Position Status
Kellogg School of Management at Northwestern University Lecturer Current
Federal Reserve Bank of Chicago Senior Economist Current
Chicago Fed Current
University of Chicago M.A. Former
Kenyon College B.A. Former

Robert J. LaLonde is a consultant in the research department at the Federal Reserve Bank of Chicago. LaLonde is a professor at the University of Chicago.

Organization Position Status
Federal Reserve Bank of Chicago Consultant Current
Chicago Fed Current

Organization Position Status
Federal Reserve Bank of Chicago consultant Current

Organization Position Status
Federal Reserve Bank of Chicago consultant Current

Sumit Agarwal is a financial economist in the research department at the Federal Reserve Bank of Chicago. His research interests include issues relating to household finance, as well as corporate finance, financial institutions and capital markets. His research has been published in the Journal of Political Economy, Journal of Money, Credit and Banking, Journal of Financial Intermediation and Real Estate Economics. Additionally, he has edited a collected volume on Household Credit Usage: Personal Debt and Mortgages. Prior to joining the Chicago Fed in July 2006, Agarwal was a senior vice president and credit risk management executive in the Small Business Risk Solutions Group of Bank of America. He also serves as an adjunct professor in the finance department at DePaul University. Agarwal received a Ph.D. from the University of Wisconsin Milwaukee. He is currently on leave at the Indian School of Business where he is teaching courses on financial institutions.

Organization Position Status
DePaul University Adjunct Prof Current
Federal Reserve Bank of Chicago Financial Economist Current
Chicago Fed Current

William A. Strauss is a senior economist and economic advisor in the economic research department at the Federal Reserve Bank of Chicago, which he joined in 1982. His chief responsibilities include analyzing the current performance of both the Midwest economy and the manufacturing sector for use in monetary policy. He also produces the monthly Chicago Fed Midwest Manufacturing Index and organizes the Bank's annual Economic Outlook Symposium and annual Auto Outlook Symposium. He also conducts several economic workshops and industrial roundtables throughout the year. Strauss has taught as an adjunct faculty member at both Loyola University Chicago and Webster University, Chicago. He currently teaches at the University of Chicago, Graham School of General Studies and at DePaul University, Kellstadt Graduate School of Business. His research paper topics include analysis of the manufacturing sector, the auto sector, the Midwest regional economy, the trade-weighted dollar, business cycles and Federal Reserve payments operations. Strauss has been interviewed on numerous television and radio shows and quoted in the major business magazines and newspapers. He is a past president of the Chicago Association of Business Economists and currently serves as a board member for the National Association for Business Economics and as a member of the Advisory Council for the University of Illinois at Chicago's Center for Economic Education. Strauss earned a B.A. in economics and geography from the State University of New York at Buffalo and an M.A. in economics from Northwestern University.

Organization Position Status
Federal Reserve Bank of Chicago Advisor Current
Chicago Fed Current
The Advisory Council Board of Directors Current
Chicago Sun Times Former
Chicago Tribune Co. to Former
Loyola University Chicago Board of Directors Former
Webster University Board of Directors Former
Northwestern University MA in economics Former
State University of New York at Buffalo BA in economics and geography Former

Organization Position Status
USG Mexico, Sa. Chairman and Chief Executive Officer Current
USG Corporation Chairman & CEO Current
Federal Reserve Bank of Chicago Deputy Chairman of The Board Current
Northwestern Memorial Hospital Board of Directors Current
Museum of Science and Industry Board of Directors Current
National Association of Manufacturers Director Current
CGC Inc. Board of Directors Current
Museum of Science and Industry Trustee Current
Phi Beta Kappa Member Current
L&W Supply Corporation Chief Executive Officer Former
L&W Supply Corporation President Former
USG Corporation President Former
L&W Supply Corporation Chief Operating Officer Former
L&W Supply Corporation Executive Vice President Former
McKinsey & Company, Inc. Senior Engagement Manager Former
USG Corporation Board of Directors Former
Williams College Bachelor's degree in Economics Former

Organization Position Status
Indianapolis Power & Light Company Chief Executive Officer Current
Central Indiana Community Foundation President and CEO, Indianapolis Power and Light Company Current
IPL, An AES Company President & CEO Current
Central Indiana Community Foundation Board of Directors Current
Mindtrust, Inc. Board of Directors Current
Federal Reserve Bank of Chicago Board of Directors Current
Central Indiana Corporate Partnership Board of Directors Current
Walker Information Inc. Board of Directors Current
Walker Information Inc. Member Current
Lightcompany CEO Former
The AES Corporation CEO, Indianapolis Power & Light Company (Ipl) Former
Lightcompany President Former
The AES Corporation President, Indianapolis Power & Light Company (Ipl) Former
The AES Corporation Vice President Former
The AES Corporation Senior Project Director Former
Lehigh University Bachelor of Science In Chemical Engineering Former

"President and Chief Executive Officer Carl T. Camden is president and chief executive officer of Kelly Services, Inc., a world leader in human resources solutions. He also serves on the company's board of directors. Kelly is a Fortune 500 company headquartered in Troy, Michigan. Elected to his current position in February 2006, Mr. Camden joined Kelly in April 1995 as senior vice president, Corporate Marketing. He was promoted to executive vice president, Marketing & Strategy in 1997. In 1998, Mr. Camden was named executive vice president in charge of Field Operations, Sales & Marketing. He was promoted to executive vice president and chief operating officer in April 2001. Mr. Camden was elected as president and chief operating officer, as well as to the Board of Directors of Kelly Services in November 2001. Prior to joining Kelly, Mr. Camden was senior vice president and director of Corporate Marketing for KeyCorp, a bank holding company based in Cleveland, Ohio. He previously served as co-president of Wyse Advertising in Cleveland and was co-founder and co-owner of North Coast Behavioral Research Group. Mr. Camden also served as associate professor in the Communications Department at Cleveland State University. Mr. Camden holds an undergraduate degree in psychology and speech from Southwest Baptist College in Bolivar, Missouri, a graduate degree in clinical psychology and speech communication from Central Missouri State University, and a doctorate in communications from Ohio State University. Mr. Camden serves on the Board of Visitors of Duke University Fuqua School of Business and the Board of Trustees of the University of Detroit Mercy. Mr. Camden also serves on the Detroit Board of Directors for the Federal Reserve Bank of Chicago and served on the Labor Advisory Council for the Federal Reserve Bank from 1997 through 2007. Mr. Camden is a member of the University of Michigan Visiting Committee for the Michigan Center for Theoretical Physics. Mr. Camden served on the Advisory Committee on Employee Welfare and Pension Benefits (ERISA Advisory Council) from 2000 through 2002 and the American Staffing Association's board of directors from 2006 through 2007. In June 2005, Mr. Camden received the Individual Citation Award from the International Association of Workforce Professionals (IAWP) for 2004 and 2005, the highest honor IAWP presents to an individual. In September 2004, the National Association of State Workforce Agencies (NASWA) presented Mr. Camden with the 2004 William L. Heartwell, Jr. Award. This award recognizes individuals who have made a significant and substantial contribution to the workforce development system. "

Organization Position Status
Kelly Services, Inc. President & CEO Current
Kelly Managed Services President & COO Current
Kelly Properties, Inc. President & COO Current
Societe Services Kelly President & COO Current
Kelly Services, Inc. Senior Vice President, Corporate Marketing Former
Kelly Vendor Management Solutions Senior Vice President, Corporate Marketing Current
Search Masters International Current
Federal Reserve Bank of Chicago Board of Directors Current
Visitors Board of Directors Current
Kelly Services, Inc. Board of Directors Current
Chicago Fed Board of Directors Current
Wyse Advertising co-president Former
North Coast Behavioral Research Group co-founder Former
North Coast Behavioral Research Group co-owner Former
Cleveland State University associate professor Former
American Staffing Association Board of Directors Former
The Ohio State University Doctorate In Communications Former
The Ohio State University Graduate Degree In Clinical Psychology Former
The Ohio State University Undergraduate Degree In Psychology Former
University of Michigan member Former

Organization Position Status
Zurich Financial Services Global Chief Economist Current
U.S. Department of Defense Consultant Current
Federal Reserve Bank of Chicago Academic Advisory Board Current
New York Society of Security Analysts Member Former
The London School of Economics M.Sc. Economics Former
Georgetown University School of Foreign Service B.Sc. International Economic Affairs Former

Organization Position Status
Midwest Heritage Bank CEO Current
Wartburg College Member President's Advisory Council Current
Iowa Bankers Association Chairman Current
Wartburg College Chairman Leadership Advisory Current
Federal Reserve Bank of Chicago Director Current
Midwest Heritage Bank Board of Directors Current
Midwest Heritage Bank President Former
First State Bank of Webster City Executive Vice President Former
Delta Dental Chairman Former
Iowa State University B.S. degree in Agricultural Business Former

Organization Position Status
Evanston Capital Management LLC Chairman and CEO of Madison Dearborn Partners, Llc Current
Madison Dearborn Partners LLC Chief Executive Officer Current
Waud Capital Partners, LLC Chairman and Chief Executive Officer of Madison Dearborn Partners Current
Museum of Science and Industry Co-Founder, President & Managing Partner Current
The View Group Emeritus Advisor Current
The Field Museum Trustee Current
Northwestern University Trustee Current
Boys & Girls Clubs of America Trustee Current
Denison University Trustee Current
Big Shoulders Fund Co-Chairman Current
The Chicago Community Trust Corporate Campaign Chair Current
Madison Dearborn Partners LLC Chairman Current
Chicago Fed Chair Current
Big Shoulders Fund Board of Directors Current
Museum of Science and Industry Board of Directors Current
Ism - Silicon Valley, Inc. Board of Directors Current
Economic Club of Chicago Board of Directors Current
Smurfit Kappa Group Board of Directors Current
The Industry Inc Board of Directors Current
Museum of Science Board of Directors Current
Northwestern University Board of Directors Current
Ceres Venture Fund Board of Directors Current
Federal Reserve Bank of Chicago Director Current
Smurfit Kappa Group Board Director Current
Waud Capital Partners, LLC Advisory Board Current
Exelon Corporation Director Current
The Field Museum Board of Directors Current
The View Group Board of Directors Current
TransUnion Corp. Board of Directors Current
Northwestern Memorial Hospital Board of Directors Current
Madison Dearborn Partners LLC President Former
First National Bank President Former
First Chicago Venture Capital President Former
First Chicago Venture Capital Executive Vice President Former
The First National Bank of Chicago Executive Vice President Former
First Chicago Corporation Executive Vice President Former
First National Bank of Chicago Executive Vice President Former
Milwaukee Brewers Baseball Club Board of Directors Current
Museum of Science and Industry Trustee Former
Duke Law School Board Director Former
Duke University J.D. Former
Denison University A.B. Former
Duke Law School Law Degree Former

Organization Position Status
Federal Reserve Bank of Chicago Director Current
Chicago Fed Board of Directors Current
Local Initiatives Support Corporation Board Member Former

Organization Position Status
Clear Lake Bank & Trust Company President & CEO Current
Clear Lake Bank & Trust Company Board of Directors Current
Federal Reserve Bank of Chicago Board of Directors Current
Drake University BS Degree In Finance Former

Organization Position Status
Chicago Fed Chairman, President and Chief Executive Officer of Lake City Bank Current
Indiana Bankers Association Chairman, President and CEO of Lake City Bank Current
Lakeland Financial Corporation Chairman, President, and Chief Executive Officer Current
Lakeland Financial Corporation Board of Directors Current
Federal Reserve Bank of Chicago Director Current
Goshen Health System, Inc. Director Current
Lakeland City Bank President Former
Lakeland Financial Corporation Principal Executive Officer and Director Former
Northern Trust Corporation NA Former
University of Chicago MBA Former
Indiana University Bachelor's Degree Former
Miami University B.A. Former

Organization Position Status
Federal Reserve Bank of Chicago Director Current
Michigan Bankers Association Board of Directors Current
Michigan Bankers Association Member Former
United Way of Bay County Campaign Chairman Former
University of Arkansas Banking Former
Northwood University Banking Former

Organization Position Status
The Habitat Company Inc. CEO Current
Museum of Science and Industry Executive Vice President Current
USG Corporation Managing Director and Executive Vice President of the Habitat Company Current
Cq Press Senior Advisor and Assistant Current
University of Chicago Trustee Current
Window to the World Communications, Inc. Trustee Current
USG Corporation Compensation & Organization Committee Chairman Current
Traders Magazine Chairman Former
University of Chicago Board of Directors Current
Window to the World Communications, Inc. Board of Directors Current
Navigant Consulting, Inc. Director Current
USG Mexico, Sa. Board of Directors Current
Harris Insight Funds Director Current
University Corp. Vice Chairman Current
Federal Reserve Bank of Chicago Director Current
Museum of Science and Industry Board of Directors Current
Chicago Metropolis 2020 Board of Directors Current
Joyce Foundation Board of Directors Current
Window Co. Trustee Current
USG Corporation Corporate Affairs Committee Member Current
Museum of Science and Industry Trustee Current
The Habitat Company Inc. President Former
The Habitat Company Inc. Executive Vice President Former
The Habitat Company Inc. Managing Director Former
The Habitat Company Inc. Property Manager Former
Museum of Science and Industry Trustee Former
USG Corporation Director Current
Chicago Stock Exchange Incorporated Board of Directors Former
The University of Michigan Law School J.D. degree Former
Stanford University A.B. Degree Former

William Osborn is General Partner of Commons Capital LP, a "double bottom line" venture capital fund investing in private companies with significant growth potential whose products, services or corporate cultures promote a sustainable economy by delivering market solutions to social and environmental problems. The fund is an active investor in small companies in the environment, clean energy, healthcare and education markets. Mr. Osborn is also a special partner with Arete Corporation, a venture firm managing investments in the telecommunications, software and energy industries. Prior to that he was a principal at Venture Investment Management Company, LLC (VIMAC), a Boston group managing "angel" investments in early stage companies. There Mr. Osborn focused on renewable energy and healthcare opportunities. Mr. Osborn has been an entrepreneur in the environmental and energy field, founding and managing an electric vehicle distribution subsidiary for a major utility company and starting a green business development and consulting firm. Earlier he co-managed a venture capital fund for automaker BMW and was a management consultant with Arthur D. Little, where he led a consulting practice involved with new energy technologies. Before his consulting work, Mr. Osborn practiced law and managed a state government office promoting solar energy. He also was a staff attorney at Ralph Nader's Center for the Study of Responsive Law, where he authored The Paper Plantation, a book about the environmental and social impact of the pulp and paper industry on the state of Maine. Mr. Osborn sits or has been on the boards of several start-up and expansion-stage companies, including Evergreen Solar, Inc. (photovoltaic modules), World Power Technologies, Inc. (power quality instrumentation), Surgical Sealants, Inc. (surgical wound products), Fingerlakes Aquaculture LLC (recycled-water aquaculture), and Conservation Services Group (energy efficiency services). He is a founding Trustee of the Domini Social Equity Fund and a Board Member of Investors' Circle, where he has also chaired the Selection Committee that chooses companies to present to members for investment. He has also been President of the Brookline Foundation, a local education foundation raising private funds for public school teacher development. He has a BA from Princeton University and a JD from George Washington Law School.

Organization Position Status
Spartacus Media Enterprises General Partner of Commons Capital Lp Current
Massachusetts Green Energy Fund LP Partner Current
Commons Capital, L.P. General Partner Current
YMCA of Metropolitan Chicago Board Manager Current
Chicago Symphony Orchestra Trustee Current
Museum of Science and Industry Trustee Current
Northwestern University Trustee Current
Commons Capital, L.P. Investment Manager Current
Finger Lakes Aquaculture Current
Northern Trust Bank Chairman Current
Caterpillar, Inc. Compensation Committee Chairman Current
Northern Trust Corporation Chairman Current
Chicago Symphony Orchestra Chairman of the Board Current
Investors' Circle Board Member Current
Museum of Science and Industry Member, Board of Trustees Current
Northwestern University Board Member Current
Northwestern Memorial Hospital Director Current
The Chicago Council On Foreign Relations Director Current
Tribune Company Director Current
The Chicago Urban League Director Current
Conservation Services Group Board Member Current
Federal Reserve Bank of Chicago Director Current
Evergreen Solar, Inc. Board Member Current
The Executives' Club of Chicago Director Current
Kellogg School of Management at Northwestern University Advisory Member Current
Lyric Opera of Chicago Director Current
Investors' Circle Member Current
Tribune Company Executive Committee Member Current
Northern Trust Bank CEO Former
Northern Trust Corporation Chief Executive Officer Former
Northern Trust Corporation President Former
Northern Trust Corporation Chief Operating Officer Former
BMW Manager Former
Arthur D. Little, Inc. management consultant Former
Center for The Study Staff Attorney Former
The Northern Trust International Banking Corporation Chairman & CEO Former
Arete Corporation Partner Former
Tribune Company Audit Committee Chairman Former
Vi-Mac Inc. Former
Commercial Club of Chicago Chairman Former
Caterpillar, Inc. Director Former
Northern Trust Corporation Director Former
Nicor Inc. Director Former
The George Washington University Law School Jd Former
Northwestern University master's degree Former
Northwestern University bachelor's degree Former
Princeton University BA Former
YMCA of Metropolitan Chicago member Former

Organization Position Status
Citizens Commercial & Savings Bank President and CEO Current
University of Louisville Board of Directors Current
Chicago Fed Board of Directors Current
Citizens Banking Corporation Board of Directors Current
Federal Reserve Bank of Chicago Board of Directors Current
Kentucky Corporation CEO Former
Citizens Banking Corporation Chairman, President & CEO Former
Citizens Banking Corporation Chairman, President & CEO Former
Bank One Corp CEO Former
Kentucky Corporation President Former
Bank One Corp President Former
Citizens Banking Corporation President Former
Corestates Financial Corporation Former
Kentucky Corporation Chairman Former
Clarion University Bachelor of Science Degree In Business Administration Former

Bill Barouski is Executive Vice President of the Customer Relations and Support Office (CRSO) of the Federal Reserve System. In that role, Barouski and the members of his group are responsible for a wide range of activities, including national marketing, sales, customer access channels and customer support. Barouski is also a member of the Federal Reserve Bank of Chicago's Management Committee. He previously served as Senior Vice President of the CRSO. Before taking on his current role, Barouski was senior vice president of the Information Technology Services department of the Federal Reserve Bank of Chicago and the Electronic Access Product manager for the Federal Reserve System. Previously, Barouski was vice president of the Information Technology and Training and Education division of the Supervision and Regulation department. He worked with a staff of technologists and examination specialists on a wide range of technology and electronic banking initiatives. Before engaging in technology, Barouski was vice president in charge of supervision for all domestic banking institutions within the Seventh District. He joined the Federal Reserve Bank in 1980 as an examiner for the Supervision and Regulation department. Barouski holds a bachelor's degree in finance from the University of Illinois, an MBA from the University of Chicago and an MS in information technology from the McCormick School of Engineering at Northwestern University. He is a Chartered Financial Analyst and a member of the Investment Analysts Society of Chicago.

Organization Position Status
Chicago Fed Current
Federal Reserve Bank of Chicago Member Management Committee. Current
Crso Senior Vice President Former
Federal Reserve Bank of Chicago Senior Vice President of The Information Technology Services Department Former
Federal Reserve Bank of Chicago Product Manager Former
Federal Reserve Bank of Chicago Examiner Former
University of Chicago MBA Former
University of Illinois Bachelor's Degree In Finance Former

Gerald personifies the Citadel success story. He joined as the firm as an accounting intern from DePaul University in 1993. Today, as Senior Managing Director and Chief Operating Officer of Citadel Investment Group, L.L.C., Gerald is responsible for a number of Citadel's businesses, including Citadel Alternative Asset Management (“CAAM”), Citadel's fund of hedge funds business; Citadel Solutions, Citadel's hedge fund administration business; and Citadel's reinsurance investments. He is also responsible for key corporate functions, including Treasury, Finance, Human Capital Development, Marketing, Investor Relations and Corporate Communications. What initially inspired Gerald to join Citadel was the opportunity to work in an entrepreneurial environment. Whereas Citadel has grown tremendously in capital, people and number of businesses throughout Gerald’s tenure, the firm has maintained its entrepreneurial spirit and is still able to move nimbly and quickly in response to new opportunities, providing employees unparalleled opportunities for growth and impact. Gerald currently serves on the Board of Directors for The Depository Trust & Clearing Corporation, the Financial Markets Working Group of the Federal Reserve Bank of Chicago and the Board of Trustees at DePaul University. He was named to Crain's Chicago Business' Forty Under Forty in 2007. Gerald received his M.B.A. from the University of Chicago and his B.S. in Commerce with concentrations in Accountancy (Honors) and Finance from DePaul University. He is also registered as a certified public accountant with the State of Illinois.

Organization Position Status
Citadel Investment Group LLC Chief Operating Officer & Chief Financial Officer Current
The Depository Trust Company Board of Directors Current
DePaul University Board of Trustees Current
Federal Reserve Bank of Chicago Member, Financial Markets Working Group Current
Citadel Investment Group LLC Senior Managing Director Former
Citadel Investment Group LLC Accounting Intern Former
University of Chicago MBA Former
DePaul University B.S., Commerce Former

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