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For immediate release Jan. 27, 1999

PURCELL PROMOTED TO SENIOR VICE PRESIDENT; JONES PROMOTED TO VICE PRESIDENT

Mel Purcell has been promoted to senior vice president at the Nashville Branch of the Federal Reserve Bank of Atlanta, announced Jack Guynn, president and chief executive officer of the Atlanta Fed. Lee Jones has been promoted to vice president of the Nashville Branch.

Purcell is responsible for overseeing the Nashville Branch. He also works closely with the Nashville Branch board of directors, who provide input to monetary policy deliberations of the Federal Reserve. As the Sixth Federal Reserve District's check product director, he provides strategic and business oversight for its check payments operations in the District. Purcell also serves on a number of task forces and organizations of the Federal Reserve System. He is active with various industry groups, including the National Automated Clearinghouse Association, Electronic Check Clearinghouse Organization and Banking Industry Technology Secretariat.

Purcell joined the Bank in 1969 and became Atlanta's check administrator in 1974. He was promoted to assistant vice president in the Bank's Birmingham Branch in 1976, and in 1982 he was designated assistant branch manager. In 1987 he relocated to the Atlanta office as assistant product manager for the Federal Reserve System's electronic funds transfer system. He was promoted to vice president and branch manager of the Nashville Branch in 1989 and assumed his current position in 1999.

Purcell holds a bachelor of arts degree in economics from Emory University, a master of business administration degree in management from Georgia State University and is a graduate of the School of Banking of the South at Louisiana State University.

Jones is responsible for overseeing the day-to-day operational, administrative and support functions of the Nashville Branch. He also serves on several subcommittees and advisory groups addressing various Federal Reserve Bank service and policy issues. He is a member of the Sixth District Assistant Branch Managers Conference and the Sixth District Subcommittee on Business Development. Jones joined the Bank in 1980 as a senior planning analyst. He was named senior pricing analyst in 1981 and in 1984 he was promoted to director of pricing administration. He was named assistant vice president at the Jacksonville Branch in 1987 and assistant vice president and assistant branch manager at the Nashville Branch in 1992.

Jones earned both a bachelor of science degree in mass communications and a master's degree in economics from Virginia Commonwealth University in Richmond, Va. He completed the Emory University Executive Development Program.

The Federal Reserve Bank of Atlanta serves the Sixth Federal Reserve District, which encompasses Alabama, Florida, Georgia and parts of Louisiana, Mississippi and Tennessee. As part of the nation's central banking system, the Atlanta Fed participates in setting national monetary policy, supervises numerous commercial banks and provides a variety of financial services to depository institutions and the U.S. government.

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