Financial Update (Fourth Quarter 2003)



FEATURES

Check 21 Act

Economic
Education Summit

Fed Customer
Satisfaction Survey

Guynn Foresees
Balanced Growth

FHLB Mortgage
Purchases

New Atlanta Fed
Chair and Deputy
Chair

Debut of new $20

Online guide for
bank applications

DEPARTMENTS

Data Bank

Circular Letters

STAFF

SUBSCRIBE ONLINE

New Chairman Steps Up at Atlanta Fed

David M. Ratcliffe

David M. Ratcliffe, president and chief executive officer of Georgia Power Co. and executive vice president of Southern Co., has been appointed chairman of the Federal Reserve Bank of Atlanta’s board of directors. Larkin Martin, managing partner of Martin Farm and vice president of The Albemarle Corp. in Courtland, Ala., has been appointed deputy chairman. Their terms as chairman and deputy chairman begin Jan. 1, 2004, and run through Dec. 31, 2004.

Larkin Martin

Ratcliffe was named president and chief executive officer of Georgia Power Co. and executive vice president of Southern Co. in 1999. He joined Southern Co. in 1971 as a biologist. During his career he has served as executive vice president of Southern Company Services, president and chief executive officer of Mississippi Power Co. and chief financial officer of Georgia Power Co.

Martin oversees two family businesses, Martin Farm and The Albemarle Corp., with interests in agriculture and timberland, row crop farming, cotton ginning and farm equipment sales. Before assuming those positions, she worked in commercial real estate appraisal with GA/Partners-Arthur Andersen & Co. in Washington, D.C., and as a confidential assistant in the office of the secretary, U. S. Treasury Department.

The Atlanta Fed’s board of directors 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.

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