The Federal Reserve Bank of New York has been named Michelle Neal as head of its Markets Group. In this role, she will also be a member of the Bank’s Executive Committee.
Neal will join the New York Fed in March 2022. She is currently chief executive officer of US operations at LedgerEdge, a distributed ledger technology-powered trading platform initially focused on corporate bonds.
David Nicoll, CEO of LedgerEdge said, “We are delighted that Michelle is taking on this significant and systemically important role with the New York Fed. We thank her for her work in building the LedgerEdge business, and we wish her every success in her new role.”
“Michelle brings extensive experience leading and operating organizations focused on innovation in financial markets,” said John Williams, president and chief executive officer of the New York Fed. “As head of Markets, she will play a critical leadership role, collaborating across the Bank to deliver on the New York Fed’s mission, while exemplifying our values. I look forward to working with her as part of our leadership team.”
The Markets Group’s key activities include implementing market operations consistent with Federal Open Market Committee (FOMC) authorisation and directives, monitoring and analysing global financial market developments, and executing lender of last resort operations and collateral valuation services. They also include providing financial services for foreign and international monetary authorities and providing capital market-related services to the US Treasury as its fiscal agent.
“I’m honoured to join the New York Fed and contribute to its public service mission,” said Neal. “Given today’s rapid evolution in financial market structure, I’m excited for the opportunity to work with the Markets team and leverage their expertise to best position the bank to execute in this unique environment.”
Neal has held leadership roles in financial services organizations for nearly 20 years, during which time she was responsible for strategic, operational, and technical aspects of large business lines. Previously, she was head of US Fixed Income, Currencies & Commodities at RBC Capital Markets, as well as chief executive officer of Markets at BNY Mellon. She has held other senior positions in global markets trading, sales, financing, and market structure related businesses at several global financial institutions.
©Markets Media Europe, 2021
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