News Release

CHICAGO - The Federal Reserve Bank of Chicago today announced that its Board of Directors has approved the promotion of Cathy Lemieux as Senior Vice President of Supervision and Regulation, effective today.

Lemieux will oversee the Bank's Supervision and Regulation Department and replaces Jim Nelson, who recently resigned to accept a position as Chief Risk Officer at Huntington Bancshares in Columbus, Ohio.

Previously, Lemieux was Vice President of Institutions Supervision, responsible for the supervision of all Seventh Federal Reserve District financial institutions for both safety and soundness and compliance and CRA. Additionally, she chairs the Federal Reserve System Subcommittee for the Supervision of Operational Risk.

Prior to that, Lemieux oversaw the Risk Specialists Division, which is comprised of examiners with specialized expertise in the areas of market risk, credit risk, operational risk, information technology, anti-money laundering, trust, capital, private equity merchant banking and asset securitization.

Lemieux has more than 30 years experience in the industry serving as a lender, professor, policy analyst, and bank regulator. She holds a bachelor's degree from the University of Delaware and a doctorate from Texas A&M University.

The Federal Reserve Bank of Chicago is one of 12 regional Reserve Banks that, along with Board of Governors in Washington, D.C., constitute the nation's central bank. The Chicago Reserve Bank serves the Seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and the state of Iowa. In addition to participation in the formulation of monetary policy, each Reserve Bank supervises member banks and bank holding companies, provides financial services to depository institutions and the U.S. government, and monitors economic conditions in its District.