The Federal Reserve Bank of St. Louis named Alberto Musalem president and CEO.
Musalem, 55, will represent the Eighth Federal Reserve District on the Federal Open Market Committee and lead the 1,500 employees of the St. Louis Fed.
Musalem succeeds former President and CEO Jim Bullard, who resigned in July to become dean of the business school at Purdue University, West Lafayette, Ind. Musalem will serve the remainder of Bullard’s five-year term, which ends on Feb. 28, 2026, when he will then be considered for reappointment.
Kathy O’Neill is expected to continue serving as interim president and CEO until Musalem assumes the position on April 2.
Musalem has 27 years of public and private sector experience in economic policy, markets and finance, most recently as co-chief investment officer and co-founder of quantitative investment technology company Evince Asset Management. Before that, Musalem was executive vice president and senior advisor to the president at the Federal Reserve Bank of New York.
“Alberto will be an outstanding president and CEO of the St. Louis Fed,” said St. Louis Fed Director Carolyn Chism Hardy, who was deputy chair of the search committee. “As an experienced economist, former Federal Reserve leader, collabor and communicator, he comes with the exceptional technical expertise and leadership abilities needed to contribute to effective policymaking and advance a large organization in service to the public.”
Musalem has a Ph.D in economics from the University of Pennsylvania, Philadelphia, and master’s and bachelor’s degrees in economics from the London School of Economics and Political Science.
The St. Louis Fed launched a national search process in July by forming a search committee of six non-banking directors of its board of directors. The search committee was chaired by Jim McKelvey, founder and CEO of St. Louis-based Invisbly, Inc. and 2023 chair of the St. Louis Fed board.