Wharton Professor Anthony M. Santomero: President of Federal Reserve
Bank of Philadelphia
Dr. Anthony M. Santomero, Richard K. Mellon Professor of Finance at
the Wharton School, was appointed on June 29 as Bank President by the Federal
Reserve Bank of Philadelphia. Dr. Santomero will begin his duties July 10,
2000, succeeding Edward G. Boehne, who retired May 31. The appointment was
made by the Bank's Board of Directors and approved by the Board of Governors
of the Federal Reserve System in Washington, D.C.
Since 1995, Dr. Santomero has served as director of the Wharton Financial
Institutions Center, the world's premier academic research institution on
the financial services industry. He has also been a consultant and advisor
for leading financial institutions and regulatory agencies in the U.S. and
abroad on issues including risk management, financial restructuring, credit
risk evaluation and management, and regulation. Internationally, he has
served as consultant to the European Economic Community and institutions
in Sweden, Japan, New Zealand, Israel, India, Italy, Switzerland, Israel
and Turkey.
"Tony Santomero has an extensive background in financial services
and monetary policy issues," said Joan Carter, chairman of the Philadelphia
Federal Reserve Bank's board of directors. "I am confident that under
his leadership the Bank will continue to excel as we meet the challenges
of an ever-changing financial environment."
Dr. Santomero, who has requested a leave of absence from the School,
will retain his professorship while serving in his new role. "I am
pleased to join the Federal Reserve Bank of Philadelphia and be part of
the Federal Reserve System," said Dr. Santomero. "I am looking
forward to talking with the business people and community leaders around
the District, and bringing their perspective to the monetary and financial
discussions in Washington."
Dr. Santomero has a long history of service to the Wharton School. Since
joining the Wharton faculty in 1972, he has held numerous academic and administrative
positions, including deputy dean (1990-1994); vice dean and director, Wharton
Graduate Division (1984-1987); co-chairperson, Finance Department, (1982-1984);
and associate director, Doctoral Programs (1975-1977). In addition, he was
instrumental in developing and implementing numerous School initiatives
including landmark curricular changes in the MBA program.
"Tony has been instrumental in keeping Wharton at the forefront
of academic research in the financial institutions industry, and now the
Federal Reserve Bank of Philadelphia will benefit from his wealth of talent
and expertise," said Dean Patrick T. Harker." He will excel in
this role. We look forward to working with him during his tenure with the
Bank, and upon his return to Wharton."
A teaching award recipient, Dr. Santomero has served in various editorial
capacities at many of the world's leading academic journals including the
Journal of Banking and Finance, Journal of Economics and Business,
Journal of Money, Credit, and Banking, Journal of Financial
Services Research, Advances in Finance, Investments and Banking, Advances
in International Banking and Finance, Brookings-Wharton Papers on Financial
Policy, European Finance Review, European Financial Management, European
Banking Report, Journal of International Economic Law, and Open Economics
Review.
A member of the Financial Economists Roundtable, Dr. Santomero has served
as vice-chairman of the board of trustees of the BlackRock Funds, and as
a director of the Zweig Fund and the Zweig Total Return Fund. In addition,
he has served on the advisory board of the American Association of Bank
Directors.
Dr. Santomero received his AB in economics from Fordham University and
his Ph.D. in economics from Brown University. He also holds an honorary
doctorate in economics from the Stockholm School of Economics.
The Federal Reserve Bank of Philadelphia is one of 12 regional Reserve
Banks which, along with the Board of Governors in Washington, D.C., serves
as the nation's central bank. The Federal Reserve is responsible for making
and carrying out monetary policy, supervising and regulating banks and bank
holding companies, and providing financial services to depository institutions
and the U.S. Treasury. The Philadelphia Federal Reserve Bank serves the
Third District, which includes eastern Pennsylvania, southern New Jersey
and Delaware. |