For immediate release

Contact: Daneil Mazone, Media Relations Representative, 215-574-7163

Philadelphia — The Federal Reserve Bank of Philadelphia announces the appointments of Anthony Ibargüen, CEO of Quench USA, Inc. and president of AquaVenture Holdings, Ltd., as a Class B director, and Madeline Bell, president and CEO of the Children’s Hospital of Philadelphia (CHOP), as a Class C director. Ibargüen, who is replacing retiring director Edward Graham, will finish Graham’s remaining two years ending in 2019; Bell will serve the full three-year term. Both terms will begin in January 2018.

Patricia Hasson, president and executive director of Clarifi, and Jon Evans, president and CEO of Atlantic Community Bankers Bank, were reappointed as Class B and Class A directors, respectively. In addition, the Federal Reserve Board named Brian M. McNeill, president and CEO of Touchpoint, Inc. and CEO of Southco Inc., as chair, and Phoebe Haddon, chancellor of Rutgers University-Camden, as deputy chair, for one-year terms beginning January 2018.

Ibargüen is CEO of Quench and president of AquaVenture Holdings, Quench’s NYSE-listed parent company and a global leader in water purification solutions. Ibargüen has more than 25 years of executive leadership experience in the information technology and water services industries, and extensive knowledge of corporate governance, global enterprise management, and venture capital.

Ibargüen is currently on the boards of AquaVenture Holdings, Ltd. and Insight Enterprises, Inc., a Fortune 500 information technology business, where he is lead independent director, chair of the Nominating and Governance Committee, and a member of the Audit and Executive committees. He is also on the board of NewSpring Holdings, LLC, and the Philadelphia Community Advisory Committee of the John S. and James L. Knight Foundation. He has an M.B.A. from Harvard Business School and a B.S. in marketing from Boston College.

Bell was promoted to president and CEO of CHOP in July 2015 after serving as COO for eight years. She started at CHOP as a nurse and held a variety of nursing roles at other institutions before moving into hospital administration in 1995 when she returned to CHOP.

Bell is chair of the Children’s Hospital Association. She is on the boards of Comcast NBCU and Solutions for Patient Safety and on the executive committee of the Greater Philadelphia Chamber of Commerce. She has been chair of the Federal Reserve Bank of Philadelphia’s Economic and Community Advisory Council. Bell has a master of science in organizational dynamics from the University of Pennsylvania and a bachelor of science in nursing from Villanova 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 serves as 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.

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. Serving eastern Pennsylvania, southern New Jersey, and Delaware, the Bank 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.