November 6, 2013 / 9:26 PM / 4 years ago

San Francisco Fed promotes Gould to No. 2 as Moore retires

SAN FRANCISCO, Nov 6 (Reuters) - The Federal Reserve Bank of San Francisco will promote its Seattle branch manager, Mark Gould, making him the No. 2 executive at the bank when long-time first vice president and chief operating officer John Moore retires.

He will take the reins from Moore on Feb. 1, 2014, the San Francisco Fed said in a statement.

Gould, who has worked at the U.S. central bank since 1991, will also take over Moore’s role in overseeing the cash product office for the entire Federal Reserve system, the Fed said.

Moore has been at the Fed for 33 years, including 18 years in his current position under three different San Francisco Fed presidents.

The job of a Fed regional bank COO is primarily that of running a bank rather than setting monetary policy, the purview of regional Fed bank presidents.

But for several months Moore also represented the 12th Fed district at Fed monetary policy meetings in Washington, bridging the gap between former San Francisco Fed President Janet Yellen, who became Fed Vice Chair in October 2010, and John Williams, who became San Francisco Fed president in March 2011.

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