For release Dec. 20, 1996
BROWN REAPPOINTED CHAIRMAN; JONES NAMEDHugh M. Brown, president and chief executive officer of BAMSI, Inc. of Titusville, Fla., has been reappointed chairman of the board of directors of the Federal Reserve Bank of Atlanta. David R. Jones, president and chief executive officer of AGL Resources, Inc., has been named deputy chairman. Their terms as chairman and deputy chairman begin Jan. 1, 1997, and run through Dec. 31, 1997. Juanita Baranco, chief legal counsel and executive vice president of Baranco Automotive Group; John F. Wieland, president of John Wieland Homes, Inc.; and Howard L. McMillan, Jr., president and chief operating officer of Deposit Guaranty National Bank, Jackson, MS, were recently elected to three-year terms beginning Jan. 1, 1997.
DEPUTY CHAIRMAN; BARANCO, WIELAND, AND
McMILLAN NAMED TO ATLANTA FED BOARD
Brown founded BAMSI, Inc., an engineering and technical services company, in 1978. Prior to that, he was executive vice president and co-founder of New World Services Inc. Earlier in his career, Brown served as a senior field engineer for ITT Corp. in Europe and served four years in the U.S. Air Force.
A leader in civic affairs, Brown is chairman of the Board of Supervisors of the Spaceport Florida Authority and serves on the Clark Atlanta University National Business Advisory Committee and on the boards of many other organizations. Brown is an advocate of quality education, having recently been appointed to serve on the Governor's Commission on Education. Widely recognized for his accomplishments in the business arena, Brown was presented with Ernst & Young's Entrepreneur of the Year award in 1993, and in 1996 he was honored with the Award for Entrepreneurial Excellence by the Jim Moran Institute at Florida State University.
A graduate of Central State University in Ohio with a bachelor's degree in mathematics and industrial technology, Brown pursued graduate studies in business administration at American Graduate University in California.
Jones was recently named president and CEO of AGL Resources, Inc., the holding company for Atlanta Gas Light Company. Prior to that, he served as president and CEO of Atlanta Gas Light Company from February 1988 to March of this year. Since joining the company in 1960 as a junior engineer, he has held a number of other positions, including vice president and division manager in both Macon and Atlanta and senior vice president of corporate services.
A registered professional engineer, Jones has been active with numerous civic and professional organizations. He is currently chairman of the Southern Gas Association and serves on the boards of the Georgia Chamber of Commerce, the Atlanta Chamber of Commerce, Wesleyan College, the Georgia 4-H Foundation, the Woodruff Arts Center, the Ivan Allen College of the Georgia Institute of Technology, the Atlanta Rotary Club, the Institute of Gas Technology, and the Gas Research Institute as well as the Board of Trustees of Literacy Action.
Jones received a bachelor's degree in industrial management from the Georgia Institute of Technology and received an honorable discharge from the U.S. military.
Baranco's business accomplishments have earned her numerous awards, including recognition from the Dow Jones Co. and the First Trumpet Award from Turner Broadcasting System, both for entrepreneurial excellence. Baranco is also active in the community and currently serves as a member of the Association of Governing Boards of Universities and Colleges and as chair of the Board of Regents for the University System of Georgia. She has also served as Chairman of the Education Committee for the 1996 Olympics, a trustee for the High Museum of Art in Atlanta and Clark Atlanta University and a member of the boards of the John Harland Company, First Union Bank and the Atlanta, DeKalb and Georgia Chambers of Commerce. Baranco earned her Bachelor of Science and Juris Doctor degrees from Louisiana State University.
Wieland began his career as a homebuilder in 1970 when he founded his company, which now has more than 800 employees in offices in Atlanta, Jacksonville, Nashville, Raleigh and Charleston. John Wieland Homes, Inc. has garnered more than 250 awards for home design, construction and other residential housing services. In 1994 Wieland was named National Builder of the Year by Professional Builder magazine. In 1995 his firm earned the National Housing Quality Award.
Wieland is also active in the community, currently serving as chairman of Atlanta's High Museum of Art, vice chairman of the Woodruff Arts Center and a member of the Carter Center Board of Councilors and the Emory University Center for Ethics in Public Policy and the Professions. He is a graduate of Amherst College and Harvard Business School.
Howard L. McMillan, Jr., has held various positions with Deposit Guaranty National Bank since 1960. He is immediate past president of the American Bankers Association and has been a leader in business and civic affairs in greater Jackson and elsewhere in the state. His affiliations have included the Chamber of Commerce, United Way, Millsaps College, University of Mississippi and the Mississippi Baptist Medical Center. He is a graduate of Harvard University's Advanced Management Program, the School of Banking of the South at Louisiana State University, and the University of Mississippi at Oxford.
Each of the nation's 12 Federal Reserve Banks has a nine-member board of directors. Three Class A directors represent state-chartered banks that are members of the Federal Reserve System. Three Class B directors are 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. Brown and Jones are both Class C directors. Baranco and Wieland have been elected as Class B directors; McMillan will serve as a Class A 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.