René F. Jones, chairman and CEO of M&T Bank, has been reelected as a Class A Director on the Board of Directors at the Federal Reserve Bank of New York. Representing Group 1, which includes banks with capital and surplus exceeding $2 billion, Jones will serve a three-year term concluding on December 31, 2027.
M&T Bank Corporation is headquartered in Buffalo, New York. Its main banking subsidiary, M&T Bank, offers banking products and services across an extensive branch and ATM network from Maine to Virginia and Washington, D.C. Trust-related services are available in select U.S. markets and abroad through M&T's Wilmington Trust-affiliated companies and by M&T Bank.
Jones previously held positions as chief financial officer and vice chairman at M&T Bank before becoming chairman and CEO. His career began at Ernst & Young's Boston office prior to moving into private equity.
He also serves as vice chair of the Bank Policy Institute and holds board positions with ACV Auctions Inc., Boston College, Pan-Massachusetts Challenge Inc., the UB Council at the University at Buffalo, the Council for Inclusive Capitalism as a steward, and AUX 21 Capital Management as an advisory member.
Jones holds a Bachelor of Science in management science from Boston College and a Master of Business Administration from the University of Rochester.
The Federal Reserve Act of 1913 mandates that each Reserve Bank operates under a board of directors' supervision. Each bank's nine directors represent their district's interests while providing expertise that aids policy fulfillment. The directors are divided into three classes: Class A represents member banks; Classes B and C represent public interests. These directors serve as crucial links between the Federal Reserve and the private sector to ensure monetary policy decisions reflect real economic conditions.
