The Federal Reserve Bank of Philadelphia April 17 appointed Anna Paulson as its next president and chief executive officer.

Currently, Paulson serves as the executive vice president and director of research at the Federal Reserve Bank of Chicago. There, she leads research and policy analysis work, oversees the department that provides analytical support for monetary policymaking and also conducts research.

She will succeed Patrick Harker, whose 10-year term leading the Philadelphia Fed concludes June 30. Paulson will then take office July 1, serving as the 12th president of the bank.

“I am honored to serve as the next president of the Federal Reserve Bank of Philadelphia,” said Paulson. She will represent the Third Federal Reserve District on the Federal Open Market Committee (FOMC) in building U.S. monetary policy. Paulson will also be responsible for all of the bank’s activities, including payment services, bank supervision and community engagement.

“I look forward to meeting people throughout the Third District and leading the Philadelphia Fed team who are deeply committed to fostering the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems,” said Paulson. “I am excited to become part of the community in the Third District.”

The Third District includes South Jersey, eastern and central Pennsylvania as well as Delaware.

‘The ideal person’

Paulson’s selection follows an expansive national search and interview process. During, a search committee solicited input from key community and industry stakeholders.

“Anna Paulson’s economics and monetary policy expertise, as well as her leadership at the Chicago Fed and throughout the Federal Reserve System, make her the ideal person to serve as president of the Federal Reserve Bank of Philadelphia,” said Anthony Ibarguen, executive chair, Culligan Quench and Culligan Latin America, and chair of the search committee and of the Philadelphia Fed board of directors.

“For two decades, Anna has demonstrated a strong commitment to the Federal Reserve’s dual mandate of price stability and maximum employment,” he continued. “Her expansive technical expertise and mission-driven focus will be a tremendous asset to the Philadelphia Fed and the communities it serves.”