Atlanta Fed Names New Head of Bank Supervision, Auditing

For release September 18, 1995

Robert P. Forrestal, president and chief executive officer of the Federal Reserve Bank of Atlanta, has announced the promotions of William B. Estes III to senior vice president, supervision and regulation; Christopher G. Brown to vice president and general auditor; and Suzanna J. Costello to vice president, international banking supervision and regulation. All three promotions will be effective January 1, 1996.

Estes will have oversight of bank holding company activities, consumer and community affairs, state member bank supervision, international banking, and discount and credit operations. He will also become a member of the Bank's management committee. Currently, Estes serves as vice president over the international banking area. In addition, he is a member of the Federal Reserve System's International Management Committee and the Interagency Country Exposures Review Committee. Estes joined the Bank in 1975. A native of Atlanta, Georgia, he received his B.B.A. degree from the University of Georgia. Estes will succeed H. Terry Smith, who is retiring as senior vice president over supervision and regulation.

Brown will have responsibility for the audit function of the Sixth District, providing the Bank's directors with an independent perspective regarding the soundness and integrity of accounting, security, and control systems. He will also serve as advisor to the management committee. Brown is currently vice president in charge of operations in the Financial Services Management Committee Support area, which supports Systemwide management of financial services provided by the Federal Reserve. Since joining the Bank in 1973, Brown has worked in the systems, automation support, planning and control, and supervision and regulation departments. A native of Baltimore, Maryland, he received a B.A. degree in economics and business administration from Furman University in Greenville, South Carolina. Brown will succeed John Wallace, who is retiring as the Bank's senior vice president and general auditor.

Costello, assistant vice president at the Miami Branch of the Atlanta Fed, will succeed Estes as vice president over the international banking area. Costello currently oversees the analyses of foreign banking organizations from Latin America and the Caribbean and the examinations of their U.S. offices. In addition, she sits on the Federal Reserve System's Capital Markets and International Supervisory Committee. Costello joined the Bank in 1981. A native of Green Bay, Wisconsin, she holds a B.S. degree in business administration from the University of Florida.

The Federal Reserve Bank of Atlanta serves the Sixth Federal Reserve District, which encompasses Alabama, Florida, Georgia, and parts of Louisiana, Mississippi, and Tennessee. As part of the nation's central banking system, the Atlanta Fed takes part in setting national monetary policy, supervises numerous commercial banks, and provides a variety of financial services to depository institutions and the U.S. government.


Contact: Jean Tate 404-498-8035