Financial Update (Fourth Quarter 2002)


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New Atlanta Fed Chairman

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The Docket

Lovell Named Atlanta Fed Chairman, Wieland to Retire

Photo of Paula Lovell
Paula Lovell
  Photo of John Wieland
John Wieland

Paula Lovell, deputy chairman of the Atlanta Fed board of directors, will step into the role of chairman in 2003. John Wieland will retire as chairman at the end of 2002 after four years in the position. The two have worked closely together on the board for six years.

A member of the Atlanta Fed board since 1997, Lovell has served on the directors’ committee on employee benefits for the entire Federal Reserve System. She joined the board of the Nashville office to fill an unexpired term in 1993 and was appointed to her first three-year term as branch director in 1994.

Wieland served as the board’s deputy chairman in 1998 and has been its chairman since 1999. He represented the Atlanta Fed as the chairman of the Federal Reserve System’s Conference of Chairmen in 2001.

Wieland’s appointment to the Atlanta Fed’s board in 1997 came at a time when the bank was embarking on development of its new headquarters. According to Atlanta Fed President Jack Guynn, “John has been an extraordinary chairman. His advice and counsel during our building project came at a most opportune time.” In addition, Wieland’s insight into the Southeastern housing market provided guidance as the Atlanta Fed contemplated the factors influencing monetary policy in a weakening economy.

A graduate of Amherst College, Wieland holds an M.B.A. from Harvard Business School. He is chairman and chief executive officer of Atlanta-based John Wieland Homes and Neighborhoods Inc. Lovell holds a bachelor’s degree from Vanderbilt University and is president of Lovell Communications Inc. in Nashville. Replacing Lovell as deputy chair will be Atlanta Fed director David Ratcliffe. He is president and chief executive officer of Georgia Power Co.