The Federal Reserve Bank of New York has announced the resignation of Michelle Neal from her position as Head of the Markets Group and a member of the Bank’s Executive Committee. Neal is set to leave in March 2025 for a senior executive role in the private sector. Until then, she will serve as an advisor to ensure a smooth transition. Anna Nordstrom, who currently leads the Domestic and International Markets Function within the Markets Group, will take on the interim role as Head until a permanent successor is appointed.

John C. Williams, President and CEO of the New York Fed, expressed his appreciation for Neal's contributions: “Michelle has been a visionary and inspiring leader who drove change and accelerated progress during her tenure at the Bank. She has overseen significant initiatives—including the major technological investment in the Federal Reserve’s open market operations—to transform and innovate the critical work that we do. Michelle has been a key member of our Executive Committee, and I wish her well on the next chapter of her career.”

Neal reflected positively on her time at the New York Fed: “It has been an honor to be part of the New York Fed and contribute to its public service mission,” she said. “Serving alongside the dedicated team of individuals who comprise the Markets Group and the New York Fed more broadly has been a highlight of my career. I’m proud of the work we’ve done together and, in particular, I look forward to seeing FedTrade Plus become a reality in the coming year.”

The search for Neal's replacement is expected to commence in the coming weeks.

For further information, contact Suzanne Elio at (212) 720-6449 or via email at Suzanne.Elio@ny.frb.org.