The Federal Reserve Bank of St. Louis announced the appointment of Alberto G. Musalem as its next president and CEO, effective Apr. 2.
Musalem succeeds Jim Bullard, who resigned from his role in July 2023 to become dean of the business school at Purdue University. Musalem will fulfill the remainder of Bullard’s current five-year term that began on March 1, 2021, and ends on Feb. 28, 2026, at which time Musalem will be considered for reappointment. Until his April 2 start date, St. Louis Fed First Vice President Kathy O’Neill will continue to serve as interim president and CEO.
As part of his new job, Musalem will rotate with other regional Federal Reserve Bank presidents as a voting member on the central bank’s policy making Federal Open Market Committee. He will participate in FOMC meetings upon his start date and will be a voting member in 2025.
Musalem was most recently CEO, co-chief investment officer and co-founder of Evince Asset Management, a quantitative investment technology company. Prior to Evince, he was executive vice president and senior advisor to the president at the Federal Reserve Bank of New York, where he was head of integrated policy analysis, international affairs and a member of the Bank’s Management Committee. Earlier in his career, he was managing director, partner and global head of research at Tudor Investment Corporation and an economist at the International Monetary Fund.
Musalem is an adjunct professor of finance at Georgetown University’s McDonough School of Business and serves on the boards of Freddie Mac and Man Group; he is also a member of the Council on Foreign Relations and the Economic Club of New York. Musalem earned his Ph.D. in economics from the University of Pennsylvania and his master’s and bachelor’s degrees in economics from the London School of Economics and Political Science.
“Alberto will be an outstanding president and CEO of the St. Louis Fed,” said St. Louis Fed Director Carolyn Chism Hardy, president and CEO of Chism Hardy Investments LLC in Bartlett, Tennessee, and deputy chairwoman of the bank’s search committee. “As an experienced economist, former Federal Reserve leader, collaborator 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. Alberto is a mission-focused leader, and I am confident he will work tirelessly to promote a healthy economy for all in representing the diverse views of the constituents across the Fed’s Eighth District.”
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