SALT LAKE CITY – The Federal Reserve Bank of San Francisco announced the newest member of its Salt Lake City Branch Board of Directors, and two reappointments, effective January 1, 2024.
The Salt Lake City Board’s newest director is:
Melanie Cox
Chief Executive Officer
Backcountry.com
Park City, Utah
Directors reappointed for a second term include:
Susan Morris
Executive Vice President and Chief Operating Officer
Albertsons
Boise, Idaho
Mark W. Packard
President and Chief Executive Officer
Central Bank
Provo, Utah
About the Boards of Directors
The Federal Reserve Act of 1913 requires each of the 12 Reserve Banks to operate under the supervision of a board of directors. The Federal Reserve Bank of San Francisco’s Head Office Board is governed by nine directors who represent the interests of the 12th Reserve District and whose experience provides the Bank with a wider range of expertise that helps it fulfill its policy and operational responsibilities. The nine directors of each Reserve Bank are divided evenly by classification: Class A directors represent the member banks in the District; Class B directors and Class C directors represent the interests of the public. In the case of the Federal Reserve Bank of San Francisco, its four branches in Los Angeles, Portland, Salt Lake City, and Seattle each have a separate seven-member branch board.
The Federal Reserve Bank of San Francisco (SF Fed) works to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. As part of the U.S. central bank, the SF Fed serves the Twelfth Federal Reserve District, which covers the nine western states—Alaska, Arizona, California, Hawai’i, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. By pursuing our two key goals of maximum employment and price stability—known as the Fed’s dual mandate—we work toward supporting an economy that works for everyone.