Beth M. Hammack
Beth M. Hammack | |
|---|---|
| 12th president of the Federal Reserve Bank of Cleveland | |
| Assumed office August 21, 2024 | |
| Preceded by | Loretta J. Mester |
| Personal details | |
| Born | 1971 or 1972 (age 52–53) California, U.S. |
| Education | Stanford University (BA) |
Beth Morgan Hammack (born 1971/1972) has served as the 12th president and CEO of the Federal Reserve Bank of Cleveland since 2024.[1][2]
Early life
[edit]Hammack was born in California but grew up in Villanova, Pennsylvania and is the middle of three sisters. In 1989, she graduated from The Baldwin School located in Bryn Mawr, Pennsylvania.[1][3][4]
Hammack earned a bachelor's degree from Stanford University in 1993 with a combined major in quantitative economics and history.[5] During her academic career, Hammack was part of a council of student presidents at Stanford that included John Louie, who played the Wing Kid in the 1984 film “Gremlins” and John Overdeck, co-founder and co-chairman of Two Sigma Investments.[4] Hammack was accepted to Harvard Business School but decided not to attend.[4]
Goldman Sachs
[edit]She joined Goldman Sachs in 1993 as an analyst in Debt Capital Markets, was named managing director in 2003, and partner in 2010.[5][6] Throughout her time, she held roles as global treasurer, global head of short-term macro trading, and global head of repo trading.[7] Hammack was former chair of the Treasury Borrowing Advisory Committee; and a former member of the Treasury Market Practices Group, the Financial Research Advisory Committee, and management committee.[7][8][9] Apparently, she leveraged her admission to HBS to get a promotion at some point.[4]
Before her departure, Hammack served as the co-head of the Global Financing Group.[5]
Federal Reserve Bank of Cleveland
[edit]On May 29, 2024, it was announced that Hammack was appointed as the next president and chief executive officer of the Cleveland Fed.[9][10] Hammak term began on August 21, and in this role, she will represent the Fourth Federal Reserve District on the Federal Open Market Committee in the formulation of US monetary policy.[1][9] She is the fourth woman selected to lead the Federal Reserve Bank of Cleveland, the first regional Federal Reserve bank to appoint a female president in 1982.[11]
Personal life
[edit]She has two children and resides in Cleveland with her husband.[1]
Hammack serves as a board member of Math for America, Northwell Health, and City Harvest.[9][12]
See also
[edit]References
[edit]- ^ a b c d "Federal Reserve Bank of Cleveland Names Beth M. Hammack as Next President and CEO". Cleveland Fed. May 29, 2024. Retrieved October 31, 2024.
- ^ "Beth M. Hammack". Cleveland Fed. Retrieved October 31, 2024.
- ^ "Beth Morgan Hammack '89 Moving Up the Ranks at Goldman". Baldwin. February 18, 2020. Retrieved October 31, 2024.
- ^ a b c d "The Woman Rising From Goldman Trader to Its Face on Wall Street". Bloomberg. February 13, 2020. Retrieved October 31, 2024.
- ^ a b c Cox, Jeff (May 29, 2022). "Goldman Sachs partner Beth Hammack to succeed Mester as Cleveland Fed leader". CNBC. Retrieved October 31, 2024.
- ^ Jones, Clare; Franklin, Joshua (May 29, 2024). "Former Goldman executive appointed next Cleveland Federal Reserve president". Financial Times. Retrieved November 2, 2024.
- ^ a b Irwin, Neil (May 29, 2024). "Former Goldman Sachs executive to lead Cleveland Fed". Axios. Retrieved November 2, 2024.
- ^ Schonberger, Jennifer (May 29, 2024). "Beth Hammack, ex-Goldman exec, named next Cleveland Fed president". Yahoo Finance. Retrieved November 2, 2024.
- ^ a b c d Mena, Bryan; Buchwald, Elisabeth (May 29, 2024). "Cleveland Fed taps Goldman Sachs veteran Beth Hammack as new president". CNN. Retrieved November 2, 2024.
- ^ Rugaber, Christopher (May 29, 2024). "Cleveland Fed names former Goldman Sachs executive Beth Hammack to succeed Mester as president". Associated Press. Retrieved November 2, 2024.
- ^ Matthews, Steve; Marte, Jonnelle; Torres, Craig (May 29, 2014). "Cleveland Fed Names Goldman Veteran Beth Hammack as President". Bloomberg. Retrieved October 31, 2024.
- ^ Kosich, John (May 29, 2024). "Federal Reserve Bank of Cleveland names Beth M. Hammack as next President and CEO". News5 Cleveland. Retrieved November 2, 2024.
