For immediate release: Dec. 22, 2011
William H. Rogers, Jr., president and chief executive officer, SunTrust Banks, Inc., was elected to a three-year term on the Atlanta Fed's board of directors. Renée Lewis Glover, president and chief executive officer of the Atlanta Housing Authority, was reelected to serve a three-year term on the Atlanta Fed's board of directors. Rogers and Glover's terms begin Jan. 1, 2012, and run through Dec. 31, 2014.
Rogers assumed his current role in June 2011, having served as chief operating officer since November 2010 and president since December 2008. He will become chairman of the board of directors of SunTrust Banks Inc. effective January 1, 2012. Previously, he served as corporate executive vice president with executive oversight responsibilities for commercial real estate banking, corporate and investment banking, mortgage, treasury and payments solutions, and wealth and investment management. He began his career in 1980 in the commercial bank training program of Trust Company of Georgia, a SunTrust predecessor company. Rogers earned an MBA from Georgia State University and a bachelor of science in business administration from the University of North Carolina at Chapel Hill. He is on the board of directors and executive committee of the Boys & Girls Clubs of Metro Atlanta, serves as a trustee emeritus of The Lovett School, and is on the board, audit and compensation committees of Books-a-Million Inc. He is also a member of the board of directors of the Atlanta Committee for Progress.
Glover joined the Atlanta Housing Authority (AHA) as chief executive officer in 1994. Before joining the AHA, she was a corporate finance attorney in Atlanta and New York City. Glover reorganized AHA, the sixth-largest housing authority in the United States, into a diversified real estate company, with a public policy and service-oriented mission. As a result, Glover has been nationally recognized for her role in transforming U.S urban policy. Glover is a member of the international board of directors of Habitat for Humanity. Glover earned her juris doctorate at Boston University, her master's degree at Yale University and her bachelor's degree at Fisk University.
Each of the nation's 12 Federal Reserve Banks has a nine-member board of directors. Three Class A directors are generally bankers and are elected by national and state-chartered banks that are members of the Federal Reserve System. Three Class B directors are also elected by these banks but represent commerce, industry, agriculture, labor and consumers. Three Class C directors represent the same broad array of public interests but are appointed by the Board of Governors in Washington, D.C. The Reserve Bank's chair and deputy chair must be Class C directors. Rogers is a Class A Director. Glover is a Class B director.
The board of directors of the Federal Reserve Bank of Atlanta oversees the management of the bank's operations and recommends changes in the discount rate. Board members also contribute to the formulation of U.S. monetary policy through the economic information they provide the bank's president.