Indian-American financial services industry veteran Naureen Hassan has been appointed as the first Vice President and Chief Operating Officer of the Federal Reserve Bank of New York.
Hassan's appointment has been approved by the Board of Governors of the Federal Reserve System and her innings as the first VP and COO will begin from March 15.
As the first vice president, Hassan will be the New York Fed's second ranking officer and an alternative voting member of the Federal Open Market Committee. Hassan's acumen in strategy, digital transformation, cybersecurity and regulatory/risk management is well known.
According to President and CEO of the New York Fed John Williams, Hassan's leadership background, deep commitment to fostering diverse teams and extensive experience in the fields of technology and finance will be crucial for her upcoming role.
Chair of the New York Fed's board of directors and Executive VP of the Local Initiatives Support Corporation (LISC) Denise Scott said Naureen's leadership and operational experience are "fully aligned with what the search committee and he envisioned for this role", adding that her role will be instrumental in advancing the bank's mission and strategic priorities.
Till recently, she was the Chief Digital Officer for Morgan Stanley Wealth Management (MSWM). Before this, she began her stint with Charles Schwab Corporation as a corporate strategy vice president and quit as the firm's executive vice president of investor services, segments and platforms.
She also serves on the board of the California Academy of Sciences and the Cathedral School of Boys in San Francisco. Hassan has also been on the board of the Charles Schwab Bank and the Women's Initiative for Self Employment besides being a member of the Board of Directors at OneSpan, a US-based public security software and hardware firm and Ascensus, the largest independent record keeping services provider, third-party administrator and government savings facilitator in the US.
Hassan pursued her BA from Princeton University and has an MBA degree from the Stanford University Graduate School of Business.