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Last Updated: 02/07/11

News Release

Promotion Announced in Chicago Fed’s Economic Research Department; New Assistant Vice President in Human Resources

CHICAGO - The Federal Reserve Bank of Chicago announced a promotion in the Economic Research department, and a new assistant vice president in the Human Resources and Internal Communications department.


Richard Heckinger, 62, has been promoted to vice president in the Economic Research department’s Financial Markets Group.  He was formerly an assistant vice president. 


Heckinger earned a bachelor’s degree in mathematics from Illinois State University and a master’s degree in economics from the London School of Economics and Political Science at the University of London.  His promotion was effective April 16, 2011. He lives in Chicago. 


Karan Chandler, 43, joined the Human Resources department effective April 5 as an assistant vice president.  She formerly led the Human Resources and Sports division of Chuck Latham Associates, Inc., a specialty retail brokerage firm in the Denver area. 


Chandler earned undergraduate degrees in English and sociology from the University of Kansas and an MBA from the University of Denver.  She lives in Chicago, Illinois.

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Federal Reserve Bank of Chicago Background

The Federal Reserve Bank of Chicago is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up 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.

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