April 3, 2018 / 6:33 PM / in 9 months

San Francisco Fed to make diversity key in search for new chief

SAN FRANCISCO (Reuters) - The San Francisco Federal Reserve Bank will appoint a committee in the next few days to conduct a “full-blown search throughout the world” for a new president, the bank’s chair Alex Mehran said on Tuesday.

“Diversity will be a key factor” in the search for a leader to succeed John Williams, who on Tuesday was named as the next chief of the New York Fed, Mehran told Reuters in an interview. “It’s one of the important cultural issues at this Fed.”

The New York Fed has been criticized for picking Williams, a white 55-year-old man, even though it made diversity a key focus of its search for a new president.

Reporting by Ann Saphir; editing by Diane Craft

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