WASHINGTON, Jan. 10 (UPI) -- The Federal Reserve Bank of Chicago said Monday it has appointed two new directors on its Chicago board and one on its Detroit Branch board.
All three new directors have appointments through 2007.
New Chicago board director Mindy Meads is the president and chief executive of Lands' End, Inc. and executive vice president at Sears, Roebuck & Co.
New Chicago board director Jeff Plagge is president and CEO of the First National Bank of Waverly in Waverly, Ia., president of the First of Waverly Corp., and CEO of the First National Bank of Cedar Falls and First Insurance Services.
New Detroit branch director Michael Magee, Jr. is president and CEO of Independent Bank Corporation in Ionia, Mich.
The chairmen of both boards and the Seventh District representative to the Federal Advisory Council have been reappointed.
The bank is one of 12 regional Reserve Banks that along with the Federal Reserve Board in Washington, D.C. constitute the United States' central bank. The Chicago bank serves the Seventh Federal Reserve District.
The FAC meets quarterly to discuss business and financial conditions with the Federal Reserve Board of Governors in Washington, D.C.
