Atlanta Fed Announces New Board Chairman, Deputy Chairman
Carol B. Tomé, chief financial officer and executive vice president of The Home Depot, has been appointed chairman, and Thomas I. Barkin, director, McKinsey & Co., has been appointed deputy chairman of the Federal Reserve Bank of Atlanta's board of directors. Tomé and Barkin's one-year terms begin Jan. 1, 2010.
Tomé joined The Home Depot in 1995 and has served as chief financial officer since 2001. She was named executive vice president of corporate services in 2007. She is responsible for leadership in real estate, store construction, financial services, strategic business development, and growth initiatives. Her corporate finance duties include financial reporting, financial planning and analysis, financial operations, divisional finance, internal audit, investor relations, treasury, and tax.
Barkin is director of McKinsey & Co. in Atlanta. McKinsey & Co. is a global management consulting firm with 90 offices in 51 countries. Barkin is a director of the Metro Atlanta Chamber of Commerce and treasurer of the Commerce Club of Atlanta.
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 and are elected by those banks. 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. Tomé and Barkin are Class C directors.
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.
September 30, 2009