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Philadelphia Fed Announces Director Reappointments

For immediate release
Contact: Rachel Brown, E-mail Media Relations, 215-574-3840

Philadelphia, PA —The Federal Reserve Bank of Philadelphia announces the reappointment of Michael J. Angelakis, chairman and CEO of Atairos Management, L.P. and senior advisor to the Executive Management Committee of the Comcast Corporation, to a one-year term as chairman of its board of directors. Brian M. McNeill, president and CEO of TouchPoint, Inc., was reappointed to a one-year term as deputy chairman and a three-year term as a Class C director. Their new terms begin in January 2017.

In addition, William S. Aichele, chairman of Univest Corporation of Pennsylvania, was reelected to a second three-year term as a Class A director. Edward J. Graham, retired chairman, CEO, and president of South Jersey Industries, was reelected to a second three-year term as a Class B director.

Angelakis was previously deputy chairman of the Bank’s board from 2014 to 2015, and has been chairman since 2016. Before founding Atairos Management, L.P. 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. Angelakis, a trustee and graduate of Babson College, is also a graduate of the Owner/President Management program at Harvard Business School. He is a member of the boards of directors of Hewlett Packard Enterprise, Duke Energy Corporation, Groupon, the Orogen Group, and Learfield Communications, Inc.

McNeill was previously a Class C director on the Bank’s board, and has been deputy chairman since January 2016. He led the creation and expansion of TouchPoint, Inc., a 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. Since 2001, McNeill has served on the board of advisors of the Berwind Group, including as cochair of the board, and is currently chairman of the Finance Committee. He has an M.B.A. from the Wharton School of the University of Pennsylvania and a bachelor’s degree in industrial engineering from Rutgers University.

Aichele started with the Univest Corporation as a management trainee in 1971 and became vice president in 1988. He became president of Univest Corporation in 1997 and took on the additional roles of CEO in 1999 and chairman in 2005. In 2013, as Univest began implementing its succession plan to prepare for Aichele’s retirement, he left his role as president but continued on as chairman and CEO. Aichele serves on the boards of the James A. Michener Art Museum, Grand View Health, and Grand View Health Foundation. Aichele, who has an associate’s degree in business administration from Valley Forge Military Academy, is also a graduate of the Stonier Graduate School of Banking.

In April 2015, Graham retired from his role as chairman, CEO, and president of South Jersey Industries, headquartered in Folsom, NJ. In 1981, he joined South Jersey Industries, where he held various professional and managerial positions before his election as an officer of the company in 1988. Graham serves on the board of the New Jersey Manufacturers Insurance Company, the New Jersey Business & Industry Association, and the United Way of Greater Philadelphia and Southern New Jersey. He is also a member of Drexel University's Energy and Environment Council, as well as Stockton College's William J. Hughes Center for Public Policy and Lloyd Levenson Institute of Gaming, Hospitality and Tourism. In addition, he is a trustee of the Foundation of the New Jersey Alliance for Action. Graham has an M.B.A. from Drexel University and a bachelor's degree in accounting from Rider University.

About the Reserve Banks’ Boards of Directors

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.

About the Federal Reserve Bank of Philadelphia

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.

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