Jackson Appointed, Humphries and Suquet Reelected to the Federal Reserve Bank of Atlanta's Board of Directors

For immediate release: Dec. 19, 2013

Mike Jackson, chairman and chief executive officer of AutoNation Inc. has been appointed, and T. Anthony Humphries, president and chief executive officer, NobleBank & Trust, and José S. Suquet, chairman, president and chief executive officer of Pan-American Life Insurance Group, have been reelected to the Atlanta Fed's board of directors. Their terms begin Jan. 1, 2014, and run through Dec. 31, 2016.

Jackson joined AutoNation as chief executive officer in 1999 and assumed the chairman role in 2002. AutoNation Inc., a Fortune 500 company, is America's largest retailer of new and used automotive vehicles. AutoNation has been named Fortune magazine's most admired company in its industry for six of the past eight years.

Jackson is a member of the board of governors and the immediate past chair of the Museum of Art Fort Lauderdale and currently serves as a trustee of Nova S.E. University. In 2003, Mr. Jackson was named Automotive Hall of Fame Industry Leader of the Year, and in 2009, he was designated as one of the "Fifty Visionary Dealers" of all time by Automotive News. He was inducted into the Wayne Huizenga School of Business Entrepreneur Hall of Fame in 2010, and in 2012, he was named by Fortune magazine as one of the "Top 50 Global Business Leaders." Jackson has been named Dealer of the Year by Automotive News for the sixth time and nine times overall. He is the only individual to receive the award as a retailer and manufacturer. In April 2014, Jackson will be inducted as a member of the Horatio Alger Association of Distinguished Americans.

Jackson received his bachelor's degree in 1971 from St. Joseph's College (now St. Joseph's University) in Philadelphia.

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. Humphries served as the market chief executive officer for SouthTrust Bank in Calhoun and Etowah counties. Prior to his position with SouthTrust, he was the senior vice president/commercial banking sales manager for AmSouth Bank's northeast region.

Humphries currently serves on the Alabama Ethics Commission. He is on the board of directors of the Alabama Bankers Association and is the immediate past chairman of the board of the Northeast Alabama Regional Medical Center. He serves on the FIS-CEO Strategic Planning Advisory Council. He is a former chairman of the Calhoun County Chamber of Commerce and serves on the board of the Knox Concert Series.

Suquet joined Pan-American Life Insurance Group in November 2004 as president and chief executive officer. Previously, Suquet held senior management posts in the insurance industry for more than two decades, including serving as senior executive vice president and chief distribution officer of AXA Financial.

Suquet is past chairman of the board of trustees of the United Way of the Greater New Orleans Area. He is a board member of the Ochsner Health System, former chairman of LIMRA International, former member of the board of trustees of the American College, former director of the Greater New York YMCA, and former trustee of the Browning School, Florida International University Foundation and Baptist Hospital Foundation. He previously served as a member of the board of the New Orleans Branch of the Federal Reserve Bank of Atlanta.

Suquet was born in Cuba and graduated from Fordham University with a bachelor's degree and holds an MBA from the University of Miami.

Each of the nation's 12 Federal Reserve Banks has a nine-member board of directors. Three Class A directors are generally bankers and are elected by national and state-chartered banks that are members of the Federal Reserve System. 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. The Reserve Bank's chair and deputy chair must be Class C directors. Jackson is a Class C director, Humphries is a Class A director, and Suquet is a Class B director.

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.