The Federal Reserve Bank of San Francisco has announced the latest appointments to its Salt Lake City Branch Board of Directors. These appointments, which took effect on January 1, 2025, include two new directors and a newly designated chair.

Jeremy Hafen, President and Chief Executive Officer of Clyde Companies in Orem, Utah, and Andy Scoggin, Chief Executive Officer of Scoggin Capital Investment in Boise, Idaho, have been named as new directors for the branch.

Lisa A. Grow, President and Chief Executive Officer of IDACORP and Idaho Power in Boise, Idaho, has been appointed to a Board of Governors seat and will serve as Chair of the Salt Lake City Branch Board for 2025.

The Federal Reserve Act of 1913 mandates that each of the 12 Reserve Banks operates under the guidance of a board of directors. The Head Office Board for the Federal Reserve Bank of San Francisco consists of nine directors representing the Twelfth Reserve District's interests. These directors provide diverse expertise to assist with policy and operational responsibilities. Each branch within the district—Los Angeles, Portland, Salt Lake City, and Seattle—has its own seven-member board.

The Federal Reserve Bank of San Francisco is committed to advancing monetary, financial, and payment systems across its jurisdiction. It serves the Twelfth Federal Reserve District covering nine western states along with American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. The bank focuses on achieving maximum employment and price stability as part of its dual mandate to support a robust economy.

For further information regarding these announcements or other inquiries about the Federal Reserve Bank's operations in San Francisco or its branches, contact Jennifer Chamberlain at (415) 974-2383.