Beverly Hirtle, the director of research and head of the Research and Statistics Group, will start working as a research advisor on June 30, according to a statement released by the Federal Reserve Bank of New York.
“In her 37 years at the New York Fed, Bev has played a critically important role within the Federal Reserve System and internationally by conducting valuable research, serving on important system projects and mentoring generations of economists,” John C. Williams, president and CEO of the New York Fed, said in the news release issued on June 6. “Over the past seven years, she has been an outstanding leader of the group and the bank and a strong champion of diversity, equity and inclusion. We are delighted to welcome Bev to her new advisory role, where we will continue to rely on her wealth of knowledge and excellent advice.”
Hirtle has started looking for her replacement, the release reported. Director of Household and Public Policy Research Andrew Haughwout will take over as director of research and head of the Research and Statistics Group in the interim. Hirtle began working for the New York Fed in 1986 as an economist in the Research Group's Domestic Financial Markets division.
She has served in a variety of capacities within the Research and Statistics Group, the Bank and the Federal Reserve System, including that of deputy chair of the Federal Reserve Model Oversight Group, which is in charge of designing and putting the Comprehensive Capital Analysis and Review and Dodd-Frank Act stress tests into action, the release reported. She also worked for over four years in a Supervision Group department that focused on research. Hirtle has conducted a substantial amount of academic research, including studies on trends in retail banking activity, stress testing, disclosure and risk management, as well as the dividend and repurchase activity of bank-holding companies.
“It has been an absolute privilege to lead the creative, dedicated and insightful people in the Research and Statistics Group over the past seven years,” Hirtle said, according to the release. “I have been so lucky to lead the group and have been honored to help lead the bank as a member of the Executive Committee. I’m looking forward to returning to the work I love as a research economist and contributing to policy work on banking and financial stability issues.”
