"The Federal Reserve Bank of New York said Thursday it named Simon Potter, an economist at the bank, to become the new leader of its markets group, a critical arm responsible for implementing the central bank's monetary policies.</br></br>The bank said Mr. Potter, currently co-head of the bank's research and statistics group, will take on the new job June 30, succeeding Brian Sack. Mr. Potter, a naturalized U.S. citizen originally from the U.K., is 51 years old. He has been at the bank for 14 years.</br></br>Mr. Potter holds bachelor's and master's degrees from Oxford University and a doctorate in economics from the University of Wisconsin. He has contributed to the New York Fed's efforts to present economics to a broader audience on its website economics blog. Recent writings tackled the prospects for the labor market and how the economics community failed to see the last recession coming.</br></br>In a news release, the New York Fed said Mr. Potter has contributed to the bank's monetary and economic-forecasting activities. He also played a ""prominent role"" in financial-stability issues, including the design of 2009 bank stress tests. That controversial exercise was considered by many central bankers as a turning point that helped restore confidence in the financial system.</br></br>Write to Michael S. Derby at"