Indian-American Naureen Hassan, a 25-year veteran of the financial services industry, has been named as the First Vice President and Chief Operating Officer (COO) of Federal Reserve Bank of New York by the board of directors, effective from 15 March.
In a statement issued on Thursday, the Bank said that the appointment effective March 15, was approved by the Board of Governors of the Federal Reserve System.
“As First Vice President, Hassan will be the New York Fed’s second ranking officer as well as an alternate voting member of the Federal Open Market Committee,” the statement said.
“Naureen’s leadership background, deep commitment to fostering diverse teams, and extensive technology and financial experience will be critical to her role as a bank leader,” John C. Williams, President and CEO of the New York Fed, was quoted as saying in the statement.
“I am confident that Naureen will be an inspiring and innovative leader, and look forward to working with her to move our organisation forward in line with our values,” he added.
The statement added that Hassan has served in various capacities in the financial services industry, focusing primarily on digital and business process transformation.
Hassan was formerly a member of the Board of Directors at OneSpan, a USD 250MM revenue public security software and hardware firm, and Ascensus, the largest independent record keeping services provider, third-party administrator, and government savings facilitator in the United States.
Hassan also serves on the board of the California academy of sciences and the cathedral school for boys in San Francisco. She was previously on the board of the Charles Schwab Bank and the Women’s initiative for Self-employment.
Hassan, whose parents had immigrated
from India, is a 25-year veteran of the financial services industry with expertise in strategy, digital transformation, cybersecurity and regulatory/risk management.
She holds a BA from Princeton University and a Masters of Business Administration from the Stanford University Graduate School of Business.