MEMPHIS, Tenn. - The Federal Reserve Bank of St. Louis has named Douglas Scarboro as regional executive of its Memphis Branch. Scarboro will join the Bank on March 31 and will succeed Martha Perine Beard, who has led the Memphis Branch since 1997 and is retiring after a distinguished 44-year career with the St. Louis Fed.
“Martha has provided outstanding leadership and made significant contributions to the success of the Memphis Branch,” said St. Louis Fed President James Bullard. “With the transition to Douglas Scarboro, we expect to continue providing dedicated service and outreach to the communities in Arkansas, Mississippi and Tennessee that are served by the Eighth Federal Reserve District’s Memphis Branch. Douglas brings a great deal of experience and energy to this role, and we are pleased to welcome his leadership.”
Scarboro currently serves as chief learning officer for the City of Memphis and as executive director of the Office of Talent and Human Capital. In Scarboro's role as chief learning officer, he heads the Office of Talent Development, which is responsible for the education and development of all city employees.
Prior to working with the City of Memphis, Scarboro was the director of community engagement at The Leadership Academy, now the New Memphis Institute. Scarboro has a Bachelor of Arts in political science from Morehouse College, Atlanta; an MBA from Campbell University, Buies Creek, N.C.; and an Ed.D. in higher and adult education from the University of Memphis. He recently completed the Senior Executives in State and Local Government program at Harvard University's John F. Kennedy School of Government. He serves on the board of several local education and entrepreneurial organizations, including EmergeMemphis, Start Co., Memphis College of Art, New Leaders Memphis and Teach For America Memphis.
The Federal Reserve Bank of St. Louis is one of the 12 Reserve banks that, together with the Board of Governors in Washington, D.C., make up the nation’s central bank. The St. Louis Fed serves all or parts of seven states in the Eighth Federal Reserve District. In addition to Memphis, branch offices are located in Little Rock and Louisville.