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02/20/2018 | Press release | Distributed by Public on 02/20/2018 09:04

Philadelphia Fed Appoints New Members to Economic and Community Advisory Council

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February 20, 2018

For immediate release
Contact: Daneil Mazone, Media Relations Representative, 215-574-7163

Philadelphia - The Federal Reserve Bank of Philadelphia has appointed three new members to its Economic and Community Advisory Council (ECAC), a committee that informs the Bank's senior leadership team about emerging issues and market conditions in the Third Federal Reserve District and nationwide. The new members are Janice Nevin, president and CEO of Christiana Care Health System, headquartered in Wilmington, Delaware; Susan Hakkarainen, cochair and co-CEO of Lutron Electronics in Coopersburg, Pennsylvania; and Arlen Shenkman, executive vice president of global business development and ecosystems at SAP SE in Newtown Square, Pennsylvania.

'The Economic and Community Advisory Council brings together leaders with essential perspectives on our regional and national economies,' said Deborah L. Hayes, senior vice president of Corporate Affairs at the Federal Reserve Bank of Philadelphia. 'These new council members bring a wealth of understanding and experience in corporate, consumer, and health trends. They will add essential perspectives to the council's discussions of economic growth promotion in our region and will inform the Bank's leadership team as we continue to develop our key initiatives and strategic objectives to best serve the Third District.'

The ECAC, originally created in 2008, was enhanced in 2016. It is composed of up to 15 leaders representing businesses of varying sizes and in different industry sectors as well as nonprofit organizations, philanthropic organizations, academic institutions, the public sector, and organized labor. The ECAC extends partnerships with organizations from the private and public sectors and fosters greater integration and collaboration to have a broader impact on the Third Federal Reserve District and to encourage economic growth.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.