The Federal Reserve Bank of Philadelphia announced the appointment of Peter Ruggiero, president and CEO of Crayola, to its Economic and Community Advisory Council (ECAC) today. Ruggiero succeeds Rich Wuerthele following his retirement from Crayola.
Created in 2008, the ECAC consists of leaders from various sectors including businesses, nonprofit organizations, philanthropic entities, academic institutions, the public sector, and organized labor. The council provides insights on emerging trends, issues, and market conditions within the Third Federal Reserve District to the Philadelphia Fed’s senior leadership team. Additionally, the ECAC promotes inclusive regional economic growth through collaborations with private and public sector organizations.
Ruggiero joined Crayola in 1997 and has held several leadership roles overseeing global finances and operations. He has been instrumental in transforming Crayola into an innovation-focused company and expanding its U.S. and international business units. His tenure includes supervising the automation of Crayola’s U.S. manufacturing processes and implementing sustainability initiatives such as a 3.0-megawatt solar farm at Crayola’s corporate headquarters in Easton, PA.
Before his time at Crayola, Ruggiero worked at Union Pacific Corporation and Deloitte & Touche.
The Federal Reserve Bank of Philadelphia plays a key role in formulating and implementing monetary policy; supervising state member banks, bank holding companies, and savings and loan holding companies; and providing financial services to depository institutions and the federal government. It is one of twelve regional Reserve Banks that make up the Federal Reserve System alongside the Board of Governors in Washington, D.C. The Philadelphia Fed serves eastern and central Pennsylvania, southern New Jersey, and Delaware.
