Marianne Lake appointed to Federal Advisory Council for the New York Fed
NEW YORK, NY (August 11, 2022) — The board of directors of the Federal Reserve Bank of New York appointed Marianne Lake, co-chief executive officer of Consumer & Community Banking (CCB) at JPMorgan Chase and a member of the JPMorgan Chase Operating Committee, to the Federal Reserve Board of Governor’s Federal Advisory Council for a one-year term beginning August 2022.
The Federal Advisory Council is composed of one representative of the banking industry from each of the 12 Federal Reserve districts. The members of the Council consult with and advise the Federal Reserve Board on all matters within the Board’s jurisdiction. They typically meet four times per year with the Board in Washington, D.C., on economic and banking developments, and make recommendations on Fed system activities. Members customarily serve three one-year terms.
At JPMorgan Chase, Ms. Lake is jointly responsible for all of CCB and leads Payments, Lending and Commerce. She has been with JPMorgan Chase for 20 years and was previously the chief executive officer of Consumer Lending from 2019 to April 2021. Prior to this, she was chief financial officer from 2013 to 2019. During her first 12 years at the firm, she held roles in the finance organization.
Prior to JPMorgan Chase, Ms. Lake worked at both Chase and J.P. Morgan in London. She started her career as a chartered accountant at Price
Ms. Lake is the co-founder of the Women on the Move initiative and the Operating Committee sponsor of the Women on the Move Interactive Network, the largest employee Business Resource Group at JPMorgan Chase. She has a bachelor of science in Physics from Reading University in the United Kingdom.
For more information on the Federal Advisory Council, including a list of the full membership, visit this webpage.
About Federal Reserve Bank of New York
The Federal Reserve Act of 1913 requires each of the Reserve Banks to operate under the supervision of a board of directors. Each Reserve Bank has nine directors who represent the interests of their Reserve District and whose experience provides the Reserve Banks with a wider range of expertise that helps them fulfill their 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. The directors of the Reserve Banks act as an important link between the Federal Reserve and the private sector, ensuring that the Fed's decisions on monetary policy are informed by actual economic conditions.