Federal Reserve Bank of Chicago
Director Title Term Expires
Joseph B. Anderson , Jr Majority Owner , chairman and chief executive officer , TAG Holdings LLC , Wixom , Michigan 2019
Sandy K. Baruah President and chief executive officer , Detroit Regional Chamber , Detroit , MI 2020
Linda Hubbard President and chief operating officer , Carhartt , Inc. , Dearborn , Michigan 2019
Wright L. Lassiter III President and chief executive officer , Henry Ford Health System , Detroit , Michigan 2018
Sandra E. Pierce Senior Executive Vice President , Private Client Group and Regional Banking Director , Southfield , MI 2017
Rip Rapson President and chief executive officer , The Kresge Foundation , Troy , Michigan 2018
Michael L. Seneski Director of Mobility , Ford Motor Company , Dearborn , Michigan 2017
Board of directors
The following people are on the board of directors as of 2016 [ update ] . [ 8 ] Class A directors are elected by member banks to represent member banks . Class B directors are elected by member banks to represent the public . Class C directors are appointed by the board of governors to represent the public . Members of board of directors Director Title DirectorClass TermExpires David W. Nelms Chairman and CEO , Discover Financial Services , Chicago , Illinois A 2017 Abram Tubbs Chairman and chief executive officer , Ohnward Bank and Trust , Cascade , Iowa A 2017 William M. Farrow III President and CEO , Urban Partnership Bank , Chicago , Illinois A 2018 Jorge Ramirez President , Chicago Federation of Labor , Chicago , Illinois B 2016 Nelda J. Connors Chairwoman and CEO , Pine Grove Holdings , LLC , Chicago , Illinois B 2017 Susan Collins Weill Dean of Public Policy , Gerald R. Ford School of Public Policy , Univ . of Michigan , Ann Arbor , Michigan B 2018 Greg Brown Chairman and CEO , Motorola Solutions , Schaumburg , Illinois C 2018 Anne Pramaggiore , chair Chairman and CEO , Commonwealth Edison , Chicago , Illinois C 2019 E. Scott Santi , Deputy Chair Chairman and CEO , Illinois Tool Works Inc. , Glenview , Illinois C 2018
The Federal Reserve Bank of Chicago (informally the Chicago Fed) is one of twelve regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation's central bank. The Chicago Reserve Bank serves the Seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and the state of Iowa. In addition to participation in the formulation of monetary policy, each Reserve Bank supervises member banks and bank holding companies, provides financial services to depository institutions and the U.S. government, and monitors economic conditions in its District.