The Board of Directors of the Federal Reserve Bank of Kansas City announced Wednesday that it had named Jeffrey R. Schmid, president and CEO of the bank. The move will be officially effective on August 21, 2023.
With more than 40 years of experience in banking and regulatory affairs, Schmid worked at the Federal Deposit Insurance Corp. (FDIC) and was president and CEO of Mutual of Omaha Bank. The decision follows the announcement and resignation of former President Esther George after more than four decades of service.
"Jeff's perspective as a native Nebraskan, his broad experience in banking, and his deep roots in our region will be an incredible asset to the Federal Reserve, both as a leader of the organization and in his role as a monetary policymaker," Deputy Chair of the Bank's Board of Directors, Maria Griego-Raby, commented.
