For immediate release

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Philadelphia, PA — The Federal Reserve Bank of Philadelphia announces the appointment of Michael J. Angelakis, chairman and CEO of Atairos Management, L.P. and senior advisor to the Executive Management Committee of Comcast Corporation, to chairman of its board of directors. Angelakis succeeds James E. Nevels, who retired from the Bank’s board on December 31, 2015. Brian McNeill, president and CEO of TouchPoint, Inc., is appointed to deputy chairman, replacing Angelakis in this role. Their one-year terms begin in January 2016.

In addition, Patricia Hasson, president and executive director of Clarifi, was elected as a Class B director, and David R. Hunsicker, chairman, president, and CEO of New Tripoli Bank, was reelected to a second three-year term as a Class A director.

Angelakis was previously deputy chairman of the Bank’s board and had been a Class C director at the Bank since January 2012. Before founding Atairos in 2015, he was vice chairman and chief financial officer at Comcast and was responsible for corporate development, strategic planning, investor relations, venture capital, corporate reporting, taxation and internal audit, and additional financial, administrative, and oversight responsibilities. After joining Comcast in 2007, he was recognized by Institutional Investor magazine as one of America’s Best CFOs six times. From 1999 to 2007, he was a managing director and member of the Management and Investment Committees at Providence Equity Partners. Before that, he was CEO of State Cable TV Corporation and Aurora Telecommunications and served as a vice president at Manufacturers Hanover Trust Company in New York.

Angelakis, a trustee and graduate of Babson College, is also a graduate of the Owner/President Management program at Harvard Business School and a member of the boards of directors of Hewlett Packard Enterprise and Duke Energy Corporation.

McNeill, who had been a Class C director since 2014, led the expansion and creation of TouchPoint, Inc., a new parent holding company where he is now president and CEO. In 2000, he became president and CEO of Southco, a designer and manufacturer of engineered access hardware that is now a subsidiary of TouchPoint. During his tenure, McNeill led Southco’s global expansion. Before joining Southco, he was executive vice president of Danaher Corporation and had spent 17 years at Ingersoll-Rand Company as an officer of the company and in several executive positions.

Since 2001, McNeill has served on the board of advisors of the Berwind Group and as cochair of the board for the past three years; he is currently chairman of the Finance Committee. He has an M.B.A. from the Wharton School of the University of Pennsylvania and a B.S. in industrial engineering from Rutgers University.

Patricia Hasson spent more than 12 years as a banking executive before joining Clarifi in 1998. She was appointed to the inaugural Consumer Advisory Board of the Consumer Financial Protection Bureau in 2012 and is on the Oversight Board for the Philadelphia Mayor’s Office of Community Empowerment & Opportunity. She also served on the Federal Reserve Board Consumer Advisory Council (CAC) and chaired the CAC’s Housing & Community Development Committee. Hasson has an M.B.A. from Villanova University and a B.S. in finance from the University of Dayton.

The Bank’s board of directors oversees the Bank’s operations, offers observations on economic conditions, establishes the Bank’s discount rate, and serves as a link between the Federal Reserve and the communities in the District. There are nine directors on the board. In keeping with the Federal Reserve Act, District member banks elect three Class A directors to represent banking and three Class B directors to represent the public. The Board of Governors appoints three Class C directors to represent the public, including the chair and deputy chair of the board. Neither Class B nor Class C directors may be directors or officers of a bank or bank holding company, and Class C directors may not have any financial interests in such organizations.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.