The Federal Reserve Bank of Richmond has named a new chair for its Charlotte branch’s board.
Laura Clark, executive director of Charlotte nonprofit Renaissance West Community Initiative, will serve a one-year term that began Friday, the Fed announced this week.
She replaces last year’s chair, Elizabeth Fleming, president of Spartanburg, S.C.-based Converse College. Fleming will remain on the board for one more year to complete her director term.
Clark has also been reappointed to a three-year term as a director for the board, the Fed announced.
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Clark has served as a director of the branch’s board since 2014. Her nonprofit is currently leading a $90 million revitalization of the former Boulevard Homes housing project site in Charlotte’s west side.
The Fed also announced that Deborah Aguiar-Vélez, president of Charlotte-based consulting firm Sistemas Corp., has been appointed to a three-year term as a director for the Charlotte branch’s board.
The Federal Reserve system has 25 branches in 12 districts across the U.S.
Charlotte’s branch is part of the Richmond Fed district, whose headquarters is in Richmond, Va. The Richmond Fed’s second branch is in Baltimore.
Each branch has a board of directors that supervises their branch’s operations. The directors also provide their districts with anecdotal information on economic conditions in their communities – information used to inform Fed monetary policy decisions.
The Fed also said this week that two directors whose terms have expired are leaving the Charlotte board. They are:
▪ Lucia Griffith, chief executive officer and principal of Charlotte-based Metro Landmarks.
▪ Mark Williamson, president and CEO of High Point Bank and Trust.