The Federal Reserve Bank of Philadelphia recently launched a search for its next president and CEO.
A committee composed of eligible members of the Philadelphia Fed’s board of directors, and led by Anthony Ibargüen, Philadelphia Fed board of directors chairman, will conduct a search to replace Patrick T. Harker who is leaving his position on June 30, 2025, in accordance with Federal Reserve mandatory age and length of service policies.
The committee will identify a pool of candidates consistent with Federal Reserve policies and the Federal Reserve Act.
“President Harker has done an excellent job leading the Philadelphia Fed and representing the Third District within the Federal Reserve System throughout the last decade,” Anthony Ibargüen, who is heading the search committee, said. “We will run an open and inclusive nationwide search including broad input from the Third District community. Our goal is to find a new leader who will carry on President Harker’s service to our communities and commitment to promoting a strong U.S. economy.”
Only directors not affiliated with regulated banks or financial institutions are eligible under the law to help select a Federal Reserve Bank president, and the Federal Reserve’s Board of Governors must approve the committee’s choice.