Chair, Deputy Chair of Atlanta Fed's Board of Directors Designated

For immediate release: January 7, 2022

ATLANTA—The Federal Reserve Bank of Atlanta announces Elizabeth A. Smith as the 2022 chair of its board of directors and Claire Lewis Arnold as the 2022 deputy chair, as designated by the Board of Governors in Washington, DC. Both are Class C directors. Smith is the former executive chair of Bloomin' Brands Inc. in Tampa, Florida, and a graduate of the University of Virginia and Stanford Graduate School of Business. Arnold is CEO of Leapfrog Services Inc. in Atlanta and a graduate of Mary Baldwin College in Virginia. She was also reappointed as a Class C director by the Board of Governors for a three-year term beginning January 1, 2022, and ending December 31, 2024.

Additionally, Nicole B. Thomas was elected by Group 1 member banks as a Class B director to an unexpired term starting January 1, 2022, and ending December 31, 2022, with an additional three-year term ending December 31, 2025. Thomas is hospital president at Baptist Medical Center Jacksonville in Florida and previously served on the board of directors of the Atlanta Fed's Jacksonville Branch. Thomas received her master's of healthcare administration degree from the University of North Carolina at Chapel Hill and her bachelor's degree from Dillard University in New Orleans.

John W. Garratt was elected by Group 2 member banks as a Class B director to an unexpired term beginning January 1, 2022, and ending December 31, 2023. Garratt serves as executive vice president and chief financial officer of Dollar General in Goodlettsville, Tennessee. He previously served on the board of directors of the Atlanta Fed's Nashville Branch. Garratt received his MBA from Carnegie Mellon University and his bachelor's degree in finance from Indiana University Bloomington.

Abel L. Iglesias was elected by Group 2 member banks as a Class A director. He will serve a three-year term beginning January 1, 2022, and ending December 31, 2024. Iglesias serves as president and chief operating officer of Professional Bank in Coral Gables, Florida. Previously, he was executive vice president and chief lending officer. He received his master's in business administration from the University of Miami and a bachelor's degree in business administration from Barry University.

Gregory Adam Haile, J.D., was appointed by the Board of Governors as a Class C director to an unexpired term beginning January 1, 2022, and ending December 31, 2023. He was previously a Class B director elected by Group 2 member banks. Haile is president of Broward College in Broward County, Florida.

The Bank also announces the following reappointments and reelections:

  • Michael Russell, CEO of H.J. Russell & Company in Atlanta, was reelected by Group 3 member banks to a three-year term on the board of directors beginning January 1, 2022, and ending December 31, 2024. Russell is a Class B director.
  • Rajinder P. Singh, chairman, president, and CEO of BankUnited Inc. in Miami, has been reappointed the Sixth District representative to the Federal Reserve Board of Governors' Federal Advisory Council. He was reappointed by the Atlanta board of directors to a one-year term beginning January 1, 2022, and ending December 31, 2022.

The remaining members of the Atlanta Fed's board of directors include:

  • Robert W. Dumas, chairman, president, and CEO of AuburnBank in Auburn, Alabama (Class A director, term expires December 31, 2022); and
  • Kessel D. Stelling Jr., executive chair of Synovus Financial Corp. in Columbus, Georgia (Class A director, term expires December 31, 2023).

Each of the nation's 12 Federal Reserve Banks has a nine-member board of directors. Three Class A directors are generally bankers and are elected by national and state-chartered banks that are members of the Federal Reserve System. Three Class B directors are also elected by these banks but represent commerce, industry, agriculture, labor, and consumers. Three Class C directors represent the same broad array of public interests but are appointed by the Board of Governors in Washington, DC. The Reserve Bank's chair and deputy chair must be Class C directors.

The board of directors of the Federal Reserve Bank of Atlanta oversees the management of the Bank's operations and recommends changes in the discount rate. Board members also contribute to the formulation of US monetary policy through the economic information they provide the Bank's president.

Contact: Monique Broughton Knight | 470-249-8348