No images? Click here Terry Benelli Appointed to Federal Reserve L.A. Branch Board![]() Congratulations to LISC Phoenix Executive Director Terry Benelli on being appointed to the Federal Reserve Bank of San Francisco’s Los Angeles Branch Board of Directors. The Federal Reserve Act of 1913 requires each of the 12 Reserve Banks to operate under the supervision of a board of directors. The Federal Reserve Bank of San Francisco’s head office is governed by nine directors who represent the interests of the 12th Reserve District and whose experience provides the Bank with a wider range of expertise that helps it fulfill its policy and operational responsibilities. The nine directors of each Reserve Bank are divided evenly by classification: Class A directors represent the member banks in the District; Class B directors and Class C directors represent the interests of the public. In the case of the Federal Reserve Bank of San Francisco, its four branches in Los Angeles, Portland, Salt Lake City and Seattle each have a separate seven-member branch board.
Membership and Leadership Announcements for the Federal Reserve Bank of San Francisco’s Los Angeles Branch Board of DirectorsJanuary 13, 2021 LOS ANGELES – The Federal Reserve Bank of San Francisco has announced four new appointments to the Los Angeles branch board of directors, effective January 1, 2021. Mario Cordero, executive director of Port of Long Beach, in Long Beach, California, was appointed by the Federal Reserve Board of Governors. Additionally, the Bank has appointed Terry Benelli, executive director, LISC Phoenix in Phoenix; Wayne-Kent Bradshaw, president and chief executive of Broadway Federal Bank in Los Angeles; and Jack Sinclair, chief executive officer of Sprouts Farmers Market in Phoenix.
The Bank also announced that Anita V. Pramoda, chief executive officer of Owned Outcomes in Las Vegas, has been re-designated as chair of the Los Angeles branch board for 2021. In addition, Carl Chang, chief executive officer of Redwood-Kairos Real Estate Partners and chairman of the board of Pieology Pizzeria, in Rancho Santa Margarita, California, and former Bank-appointed director, is now a Board of Governors-appointed director. The remaining member of the Los Angeles Branch Board is Maritza Diaz, chief executive officer, iTjuana, San Diego, California. About the Boards of Directors The Federal Reserve Act of 1913 requires each of the 12 Reserve Banks to operate under the supervision of a board of directors. The Federal Reserve Bank of San Francisco’s head office is governed by nine directors who represent the interests of the 12th Reserve District and whose experience provides the Bank with a wider range of expertise that helps it fulfill its policy and operational responsibilities. The nine directors of each Reserve Bank are divided evenly by classification: Class A directors represent the member banks in the District; Class B directors and Class C directors represent the interests of the public. In the case of the Federal Reserve Bank of San Francisco, its four branches in Los Angeles, Portland, Salt Lake City and Seattle each have a separate seven-member branch board. |