For immediate release
Contact: Katherine Q. Dibling, 215-574-4119
Philadelphia, Pa. — The Federal Reserve Bank of Philadelphia has appointed Bharat Masrani, president and CEO of TD Bank, N.A., as its representative to the Federal Reserve Board of Governors’ Federal Advisory Council for 2011.
Masrani brings to the council an enormous depth and breadth of experience and understanding of the industry based on his nearly 25 years in banking. He holds the position of Group Head, U.S. Personal and Commercial Banking, and is a member of the TD Bank board of directors. Prior to his role at TD Bank, he held multiple positions with TD Bank Group, the parent company of TD Bank, N.A., as vice chair and chief risk officer; senior vice president and chief executive officer of TD Waterhouse Investor Services in Europe; senior vice president, corporate finance and co-head in Europe; vice president and country head for India; and vice president and head, Corporate Banking Canada. He began his banking career with TD Bank Group in 1987 as a commercial lending trainee.
Each year, each Federal Reserve Bank chooses one person to represent its District on this 12-member council of banking industry representatives, which consults with and advises the Board on all matters within the Board’s jurisdiction. The council meets in Washington, D.C. at least four times a year.
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank 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.