McKinsey Leader Picked to Lead Richmond Fed

Tom Barkin will be the new president and CEO of the Federal Reserve Bank of Richmond, the bank announced today. Taking office on Jan. 1, Barkin will replace Jeffrey Lacker, who retired earlier in 2017 after the disclosure that he was involved in a leak of confidential Fed information. Barkin is currently senior partner and chief risk officer at management consulting firm McKinsey. He previously served as a board member and chairman of the Federal Reserve Bank of Atlanta.

“Tom’s exceptional academic credentials, his analytical and research-based thought leadership, combined with his understanding of the Federal Reserve System, were important considerations for this key leadership role,” said Richmond Fed Chairman Margaret Lewis. “He also has experience in leading the information technology efforts at McKinsey — critical given the Richmond Fed’s responsibilities for the system’s national technology efforts.”