St. Louis Fed Presidential Search

The St. Louis Fed Names Alberto G. Musalem as Its Next President and CEO

Read the full announcement | View Alberto G. Musalem’s bio

Alberto G. Musalem

Alberto G. Musalem

The Federal Reserve Bank of St. Louis announced on Jan. 4, 2024, that Alberto G. Musalem would be its next president and chief executive officer.

In this role, Musalem represents the Eighth Federal Reserve District in national monetary policymaking on the Federal Open Market Committee and leads the 1,500 employees of the St. Louis Fed. He began his role on April 2, 2024.

A Robust, Transparent, Fair and Inclusive Search

Throughout the process, the St. Louis Fed Presidential Search Committee was committed to conducting a search that was robust, transparent, fair and inclusive.

Read the recap.

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Message from Our Search Committee Chair

The Search Committee is focused on finding a new Reserve bank president and CEO who will promote financial stability and a healthy economy for all. The person in this role will represent the diverse views of constituents across the Eighth Federal Reserve District, lead a talented and high-performing workforce, and have an important voice in monetary policymaking—among other essential duties.

Read the full letter.

Job Profile and Application Process

The Federal Reserve Bank of St. Louis President and CEO Job Profile (PDF) describes the role in detail, including key responsibilities as a policymaker and chief executive officer. It also outlines desired qualifications and experience. Indications of interest, nominations and referrals for the role should be submitted along with a cover letter and supporting information (e.g., bio, resume or CV) directly to Spencer Stuart no later than September 28, 2023: We encourage those interested to submit sooner than later.

Meet the Presidential Search Committee

On July 13, 2023, the St. Louis Fed’s board of directors formed a Search Committee comprising eligible Class B and Class C directors, who are in place on the board to represent the public. Note: Class A directors, who are elected to the board by member financial institutions, are not permitted to take part in the selection of a Reserve bank’s president (or first vice president), nor are they allowed to sit on search committees for those positions.

Search Committee Members

  • James M. McKelvey Jr.

    James M. McKelvey Jr., Former Chair (retired from board Dec. 31, 2023)

    Founder and CEO, Invisibly Inc., St. Louis
    Chair, board of directors
    Class C director

  • Carolyn Chism Hardy

    Carolyn Chism Hardy, Deputy Chair

    President and CEO, Chism Hardy Investments LLC, Bartlett, Tenn.
    Deputy chair, board of directors
    Class C director

  • Lal Karsanbhai

    Lal Karsanbhai

    President and CEO, Emerson Electric Co., St. Louis
    Class C director

  • R. Andrew Clyde

    R. Andrew Clyde

    President and CEO, Murphy USA Inc., El Dorado, Ark.
    Class B director

  • Penny Pennington

    Penny Pennington

    Managing partner, Edward Jones, St. Louis
    Class B director

  • Michael Ugwueke

    Michael Ugwueke

    President and CEO, Methodist Le Bonheur Healthcare, Memphis, Tenn.
    Class B director

Public Input and Engagement

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Video: Public Engagement Forum

The St. Louis Fed held a virtual public engagement forum on the presidential search process on Sept. 7, 2023. This live Q&A featured Jim McKelvey, Search Committee chair; Carolyn Chism Hardy, Search Committee deputy chair; and Tom Daniels, a representative of Spencer Stuart (the executive search and leadership consulting firm supporting the search). They were joined by François Henriquez, St. Louis Fed executive vice president, chief administrative officer and general counsel. The event was moderated by Karen Branding, St. Louis Fed senior vice president and corporate secretary. Transcript follows.

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FAQs: About the Search

Find information about the presidential search process, including the composition of a Reserve bank search committee, public information, and the roles and responsibilities of Reserve banks and their leaders.

View FAQs.

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Central to America’s Economy

At the St. Louis Fed, our teams excel through bold leadership and innovative thinking, as reflected in our mission, vision and values. In addition to promoting a healthy economy, our people foster a sound financial system, provide thought leadership on timely economic issues, engage in community development, and more.

Learn about our Bank.

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Living and Working in St. Louis

The Gateway City is home to renowned universities, top chefs, major sports teams, Fortune 500 companies and sprawling natural spaces. Affordable housing, easy commutes and free cultural attractions make the St. Louis area a great place to call home.

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