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For immediate release April 28, 1998

ATLANTA FED ANNOUNCES DISTRICT STAFF CHANGES FOR FEDERAL RESERVE SYSTEM'S RETAIL PAYMENTS OFFICE

Jack Guynn, president and chief executive officer of the Federal Reserve Bank of Atlanta, announced one promotion and six new assignments for the Federal Reserve System's Retail Payments Office (RPO), which was recently transferred to the Federal Reserve Bank of Atlanta and the Federal Reserve Bank of Cleveland. The RPO is responsible for overseeing the System's check and automated clearinghouse (ACH) services nationwide and for working with the financial services industry to improve the long-run efficiency and effectiveness of the retail payments system. The RPO was previously located at the Federal Reserve Bank of Boston.

In addition to his current responsibilities at the Atlanta Fed, Patrick K. Barron, first vice president and chief operating officer, was named retail payments product director for the Federal Reserve System. Barron was appointed first vice president and chief operating officer of the Atlanta Fed in 1996. He began his career with the Federal Reserve in 1967. Previously, he served as first vice president of the Federal Reserve Bank of San Francisco from 1991 until being named to his current position in 1996.

Richard R. Oliver, senior vice president at the Atlanta Fed, was named product manager of the System's RPO with overall responsibility for the strategic operations of the office. Prior to this assignment, Oliver was senior vice president and staff director for the Federal Reserve System's Policy Committee for Financial Services. Oliver previously served as the System's electronic funds transfer manager from 1989 to 1993.

Frederick R. Herr, senior vice president at the Atlanta Fed, was named to lead the check product management section for the RPO. Prior to this assignment, Herr was senior vice president with responsibility for financial services product development within the Sixth Federal Reserve District. He began his career with the Federal Reserve in 1969 at the Atlanta Fed's Birmingham Branch, where he became senior vice president and branch manager in 1987.

Adrienne Wells was promoted to vice president in the new RPO. Wells has direct responsibility for the RPO's overall efforts in ACH. She began her career with the Federal Reserve in 1970 and has worked at the Federal Reserve Bank of Minneapolis and the Richmond Fed. She joined the Atlanta Bank in December 1987, and in 1989 she was named assistant vice president and assistant product manager for the Federal Reserve System's electronic funds transfer services.

Vicki Anderson, assistant vice president in the Miami Branch of the Federal Reserve Bank of Atlanta, will lead the ACH product management area in the RPO. In this position, Anderson returns to the Atlanta Fed from an assignment with the RPO at the Boston Fed. Anderson joined the Atlanta Fed in 1971, and she was promoted to assistant vice president in 1990.

Melinda Rushing, assistant vice president, will manage financial and strategic planning for the RPO. Previously, she was assistant vice president responsible for providing staff support for the System's financial management function. She began her career at the Atlanta Fed's New Orleans Branch in 1979.

Albert E. Martin, assistant general counsel in Atlanta, will provide legal support to the new RPO. Martin joined the Atlanta Fed in 1983. He was named to his current position in 1988. Prior to joining the Atlanta Fed, Martin worked for the chief counsel's office at the Bureau of Public Debt, U.S. Department of Treasury.

Final transition of the RPO from the Boston Fed to the Atlanta and Cleveland Reserve Banks will take some time, but is expected to be largely complete by the end of the year. 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.

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