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Banking

Atlanta Fed and Branches Announce New Directors
The Federal Reserve Bank of Atlanta recently announced new members of its head office and branch boards of directors.
New Directors
Richard H. Anderson
Clarence Otis Jr.
T. Anthony Humphries
Richard H. Anderson Clarence Otis Jr. T. Anthony Humphries

Richard H. Anderson, chief executive officer of Delta Air Lines Inc., was appointed to a three-year term on the Atlanta Fed's board of directors. Rudy E. Schupp, president and chief executive officer of 1st United Bank, Boca Raton, Fla., was reelected and Clarence Otis Jr., chairman and chief executive officer of Darden Restaurants Inc., Orlando, Fla., was elected to three-year terms on the Atlanta Fed's board of directors. T. Anthony Humphries, president and chief executive officer of NobleBank & Trust, N.A., Anniston, Ala., was elected to fill an unexpired term ending Dec. 31, 2010, and serve an additional three-year term on the Atlanta Fed's board of directors. Humphries' three-year term begins Jan. 1, 2011, and runs through Dec. 31, 2013. Anderson's, Schupp's, and Otis's terms begin Jan. 1, 2010, and run through Dec. 31, 2012.

Anderson has served in his current position since 2007. Prior to joining Delta Air Lines Inc., he served as executive vice president and president of commercial markets group at UnitedHealth Group from 2004 to 2007. Anderson worked at Northwest Airlines from 1990 until 2004, serving in positions of increasing responsibility from vice president and deputy general counsel to chief executive officer. Anderson serves as a director for Cargill Inc., Medtronic Inc., the Metro Atlanta Chamber of Commerce, and the United Way of Metropolitan Atlanta.

Schupp currently serves as president, chief executive officer, and director of 1st United Bank in Boca Raton, Fla. Previously, Schupp was chairman, president, and chief executive officer of Republic Security Bank in West Palm Beach, Fla. Following Wachovia's acquisition of Republic Security, Schupp served as chairman of Florida Banking at Wachovia Bank until December 2001. He is lead director of the FPL Group. He is past president of the Florida Bankers Association, a former director of the Miami Branch of the Federal Reserve Bank of Atlanta, past chairman of the Business Development Board of Palm Beach County, and a former director of the Economic Council of Palm Beach County.

Otis became chief executive officer of Darden Restaurants Inc., headquartered in Orlando, Fla., in 2004 and has served as chairman of the board of directors since 2005. He joined Darden in 1995 as vice president and treasurer and became chief financial officer several years later. Before joining Darden, he served as managing director and manager of public finance for Chemical Securities Inc. (now JP Morgan Securities Inc.). He has also worked for Siebert Municipal Capital Group, the First Boston Corp., and Kidder, Peabody & Co. He serves on the boards of directors of the Metro Orlando Economic Development Commission, VF Corporation, Verizon Communications Inc., and the Central Florida YMCA.

Humphries has served in his current position since September 2005. He served in Governor Bob Riley's cabinet as the superintendent of the Alabama Banking Department from 2003 to 2005. He began his career with SouthTrust Bank, serving in positions of increasing responsibility from trainee to senior lending officer. He joined AmSouth Bank and served as vice president/senior vice president/commercial banking sales manager for 14 years. He then returned to SouthTrust as the market chief executive officer. He is on the board of directors of the First National Bankers Bank–Alabama, the Northeast Alabama Regional Medical Center, the Anniston Museum of Natural History Foundation, and the Knox Concert Series.

Each of the nation's 12 Federal Reserve Banks has a nine-member board of directors. Three Class A directors represent national and state-chartered banks that are members of the Federal Reserve System. Three Class B directors are 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. Anderson is a Class C director, Schupp and Humphries are Class A directors, and Otis is a Class B director.

Role of directors
The head office 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, the rate at which banks borrow from the Fed. Both the head office and branch board members also contribute to the formulation of U.S. monetary policy through the economic information they provide the bank's president.

The following members were elected, reelected, appointed, or reappointed to the boards of directors of the Federal Reserve Bank of Atlanta and its branches:

Branch

Director Name

Company/Title

Elected/Appointed by

Atlanta

Carol B. Tomé

Chief Financial Officer and Executive Vice President, The Home Depot

FR Board of Governors

 

Thomas I. Barkin

Director, McKinsey & Co.

FR Board of Governors

 

Richard H. Anderson

Chief Executive Officer, Delta Air Lines Inc.

FR Board of Governors

 

Rudy E. Schupp*

President and Chief Executive Officer, 1st United Bank

Reelected by member banks

 

Clarence Otis Jr.

Chairman and Chief Executive Officer, Darden Restaurants Inc.

Elected by member banks

 

T. Anthony Humphries

President and Chief Executive Officer, NobleBank & Trust, N.A., Anniston, Ala.

Elected by member banks

Birmingham

F. Michael Reilly**

Chairman, President, and Chief Executive Officer, Randall-Reilly Publishing Co. LLC

FR Board of Governors

 

John A. (Drew) Langloh

President and Chief Executive Officer, United Way of Central Alabama

Atlanta head office directors

 

Jack Hawkins Jr., Ph.D.

Chancellor, Troy University

Atlanta head office directors

Jacksonville

Leerie T. Jenkins Jr.

Chairman and Chief Executive Officer, Reynolds, Smith and Hills Inc.

FR Board of Governors

 

Hugh F. Dailey

President and Chief Executive Officer, Community Bank and Trust of Florida

Atlanta head office directors

 

D. Kevin Jones

President and Chief Executive Officer, MIDFLORIDA Credit Union

Atlanta head office directors

 

Oscar J. Horton

President, Sun State International Trucks LLC

Atlanta head office directors

Miami

Eduardo J. Padrón**

President, Miami Dade College

FR Board of Governors

 

Leonard L. Abess**

Chief Executive Officer, City National Bank of Florida

Atlanta head office directors

Nashville

William J. Krueger

Senior Vice President of Manufacturing, Purchasing, Supply Chain Management, and Total Customer Satisfaction, Nissan North America

FR Board of Governors

 

Jennifer S. Banner

Chief Executive Officer, Schaad Companies LLC

Atlanta head office directors

 

Cordia W. Harrington**

President and Chief Executive Officer, Tennessee Bun Co.

Atlanta head office directors

New Orleans

Robert S. Boh**

President and Chief Executive Officer, Boh Bros. Construction Co. LLC

FR Board of Governors

 

Matthew G. Stuller Sr.**

Chairman and Chief Executive Officer, Stuller Inc.

Atlanta head office directors

 

Anthony J. Topazi**

President and Chief Executive Officer, Mississippi Power

Atlanta head office directors

*Reelected

**Reappointed

January 27, 2010