For immediate release

Contact: Daneil Mazone, Media Relations

Philadelphia, PA — The Federal Reserve Bank of Philadelphia announces the appointment of William Lo, president and founder of Crystal Steel Fabricators, Inc. (CSF), as a Class C director. Lo’s term was effective January 1, 2023.

Anthony Ibargüen, CEO of Quench USA, Inc., was reappointed and designated chair. Sharmain Matlock-Turner, president and CEO of the Urban Affairs Coalition, was designated deputy chair. In addition, Christopher Maher, chairman, president, and CEO of OceanFirst Financial Corp. and OceanFirst Bank, and John Fry, president of Drexel University, were both reappointed to a second term.

CSF has received several awards for excellence and has been an American Institute of Steel Construction-Certified Fabricator for more than 20 years. With plants in the U.S. and in Manila, the Philippines, CSF is now on the cutting edge of steel fabrication for offshore wind farms in New Jersey and Maryland.

Lo is also a director of the Mid-Atlantic Steel Fabricators Association and is an advisor to the Noir Laser Company. He is a trustee of the Episcopal Academy Board of Trustees and a member of the Finance Subcommittee. From 2000 to 2003, he was the founder and president of Immequire, Inc., which opened one of the first call centers in the Philippines to support U.S. clients. Lo has an M.B.A. from the Wharton School of the University of Pennsylvania, as well as an M.S. and a B.S. in electrical engineering and a B.A. in history, all from Stanford University.

The Federal Reserve Bank of Philadelphia’s nine-member board of directors oversees Bank operations, offers observations on economic conditions, establishes the Bank’s discount rate, and is a link between the Federal Reserve and the communities in the Third District, which includes eastern Pennsylvania, southern New Jersey, and Delaware. 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, while the Board of Governors appoints three Class C directors, including the chair and deputy chair of the board, to represent the public. 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.