The Federal Reserve Bank of San Francisco has announced the latest appointments to its Head Office Board of Directors, effective from January 1, 2025. The board has welcomed three new directors: Pallavi Mehta Wahi, Jeff Newgard, and Jack Sinclair.

Pallavi Mehta Wahi is the Managing Partner at K&L Gates LLP in Seattle, Washington. Jeff Newgard serves as Chairman, President, and CEO of Bank of Idaho and is also Chairman of Bank of Idaho Holding Co., located in Idaho Falls, Idaho. Jack Sinclair holds the position of Chief Executive Officer at Sprouts Farmers Market in Phoenix, Arizona.

Additionally, Russell A. (Chip) Childs has been designated by the Board of Governors to serve as Chair of the Head Office Board for 2025. Pallavi Mehta Wahi will assume the role of Deputy Chair. Russell A. (Chip) Childs is the CEO and President of SkyWest, Inc., based in St. George, Utah.

The Federal Reserve Act mandates that each of the 12 Reserve Banks operates under a board's supervision. The San Francisco Fed's Head Office Board comprises nine directors representing various interests within the Twelfth Reserve District. These directors bring diverse expertise to help fulfill policy and operational responsibilities.

The SF Fed plays a crucial role in advancing monetary, financial, and payment systems across its district, which includes nine western states—Alaska, Arizona, California, Hawai’i, Idaho, Nevada, Oregon, Utah, and Washington—as well as American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. It aims to achieve maximum employment and price stability as part of its dual mandate to support a robust economy for all Americans.