The Federal Reserve Bank of San Francisco has announced changes to its Seattle Branch Board of Directors. Effective January 1, 2025, Elizabeth Wako, MD, President and Chief Executive Officer of Swedish Health Services in Seattle, Washington, has been appointed as a new director. Additionally, Michael Senske, Chairman and Chief Executive Officer of Pearson Packaging Systems in Spokane, Washington, has been reappointed for a second term.
The board operates under the Federal Reserve Act of 1913 which mandates that each of the 12 Reserve Banks be supervised by a board of directors. The Federal Reserve Bank of San Francisco’s Head Office Board consists of nine directors who represent the interests of the Twelfth Reserve District. These directors provide expertise that aids in fulfilling the bank’s policy and operational responsibilities.
Directors are classified into three categories: Class A represents member banks; Class B and Class C represent public interests. The Federal Reserve Bank of San Francisco includes four branches located in Los Angeles, Portland, Salt Lake City, and Seattle. Each branch maintains a seven-member board.
The SF Fed is part of the U.S. central bank system serving the Twelfth Federal Reserve District which includes nine western states—Alaska, Arizona, California, Hawai’i, Idaho, Nevada, Oregon, Utah, and Washington—as well as American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. It aims to support an economy that benefits everyone by pursuing maximum employment and price stability.
For further information about these appointments or other inquiries related to the SF Fed’s activities within its district or nationwide efforts to strengthen economic systems for Americans across various regions served by this institution contact Jennifer Chamberlain at (415) 974-2383.
