FRB Boston Press Releases

Karen Pennell Named First Vice President and Chief Operating Officer

The Federal Reserve Bank of Boston announced the appointment of Karen A. Pennell as First Vice President and Chief Operating Officer, effective April 2024. Pennell brings 35 years of Federal Reserve experience, most recently serving as executive vice president and chief client services officer in the Federal Reserve National Information Technology function. She succeeds Kenneth C. Montgomery, who is retiring after 40 years of Federal Reserve service.

Federal Reserve Bank of Boston Mourns Passing of Jackie Palladino

The Federal Reserve Bank of Boston announced the passing of Executive Vice President and Chief Administrative Officer Jackie Palladino on November 15, 2024. Palladino served the institution for more than three decades, holding key roles including two decades in banking supervision, regulation, and credit. She was a member of the Bank's Executive Committee and also served on the board of directors of the United Way of Massachusetts Bay and Merrimack Valley.

Roger Crandall Named Chair, Lizanne Kindler Deputy Chair

The Federal Reserve Bank of Boston announced its 2025 Board of Directors, effective January 1. Roger W. Crandall, chairman, president, and CEO of Massachusetts Mutual Life Insurance Company, has been designated as board chair. Lizanne Kindler, executive chair and CEO of KnitWell Group, has been designated as deputy chair. Josephine Moran, Dr. Sunil Eappen, and Betty Francisco have been elected as new directors.

Dr. Sunny Eappen Steps Down from Boston Fed Board Oct. 15

The Federal Reserve Bank of Boston announced that Dr. Sunny Eappen will depart the Bank's board of directors on October 15, 2025. His departure coincides with his stepping down as president and CEO of the University of Vermont Health Network. Dr. Eappen served as a B director representing the public interest.

Boston Fed Announces 2026 Board of Directors

The Federal Reserve Bank of Boston announced its 2026 Board of Directors, effective January 1. Lizanne Kindler, executive chair and CEO of KnitWell Group, was designated Board chair. Tim Sweeney, chairman and CEO of Liberty Mutual Insurance, was appointed as a Class C director and designated deputy chair. Mike Vail of Hannaford Supermarkets and Joe Preston of New Balance Inc. were elected as Class B directors. Ronald O'Hanley of State Street was re-elected as a Class A director.