Meet Our President and First Vice President
As president and chief executive officer of the Federal Reserve Bank of Cleveland, Loretta J. Mester participates in the formulation of US monetary policy and oversees approximately 950 employees in Cleveland, Cincinnati, and Pittsburgh who conduct economic research, supervise banking institutions, and provide payment services to depository institutions. She assumed her role as president and chief executive officer in June 2014. For more information, including a full CV, consult Dr. Mester’s bio here.
Gregory L. Stefani is first vice president and chief operating officer of the Federal Reserve Bank of Cleveland. He chairs the Bank’s Executive Leadership Team and oversees all operating and support activities in the Cleveland Bank headquarters and in the Bank’s Pittsburgh and Cincinnati Branches. For more information, see Mr. Stefani’s bio here.
Meet Additional Members of Our Executive Leadership Team
The purpose of the Executive Leadership Team (ELT) is to provide broad organizational leadership, oversight, and direction; to ensure the Bank’s strategy, structure, and culture are aligned; and to serve as an advisory body to the president. Learn more about our other ELT members below.
Mouneer I. Ahmad
Senior Vice President
Mouneer I. Ahmad is a senior vice president at the Federal Reserve Bank of Cleveland responsible for the Bank’s Cash Services, Facilities, and Law Enforcement Departments. His areas of expertise include financial planning and analysis, strategic planning and leadership, business process optimization, and organizational management.
Prior to joining the Cleveland Reserve Bank, Mr. Ahmad was a senior manager in the finance strategy and operations practice at Deloitte Consulting LLP. There, he led several process, organization, and systems strategy development efforts to support multi-billion-dollar company mergers and system integration programs. Before joining Deloitte, Mr. Ahmad was a business advisory manager for Ernst & Young LLP and a senior consultant in the strategy, process, and transformation area for BearingPoint. He was also the US financial operations lead in the organizational development and process improvement area of Oilily Retail USA.
Mr. Ahmad is a member of APICS. He holds a BA in finance from Northern Illinois University.
William D. Fosnight
Senior Vice President and General Counsel
William D. Fosnight is senior vice president and general counsel at the Federal Reserve Bank of Cleveland. He is responsible for overseeing the Legal Department, the Office of the Corporate Secretary and for providing corporate legal counsel and advice to the Bank. He joined the Cleveland Reserve Bank as an attorney in 1986 and was named senior attorney in 1989. He was promoted to assistant vice president and assistant general counsel in 1994, vice president and associate general counsel in 2001, and to his current position in 2011. Before joining the Bank, he was employed as counsel to supervision at the Federal Home Loan Bank of Cincinnati.
Mr. Fosnight earned a BA in economics from Miami University and a JD from Case Western Reserve University School of Law.
Stephen H. Jenkins
Senior Vice President
Stephen H. Jenkins has been a senior vice president at the Federal Reserve Bank of Cleveland since 2007. He is responsible for the Bank’s Supervision and Regulation Department, which oversees more than 275 financial institutions in the Fourth Federal Reserve District. He is also responsible for the Bank’s Credit Risk Management and Statistics and Analysis Departments. Mr. Jenkins joined the Supervision and Regulation Department in 1986 as a bank examiner. He was appointed to his current position in 2007.
He is a past president of the Northern Ohio Chapter of the Risk Management Association, a trade organization that promotes sound credit risk management practices, and he serves on the board of trustees of Cornucopia, Inc., a nonprofit organization providing job readiness and placement services for disabled individuals.
Mr. Jenkins holds a BS in finance from Bowling Green State University, an MBA from the University of Pittsburgh, and a diploma from the Graduate School of Banking at Colorado.
Mark S. Meder
Senior Vice President and General Auditor
Mark S. Meder is senior vice president and general auditor at the Federal Reserve Bank of Cleveland, having been appointed to his current position in 2012. He is responsible for the strategic leadership and oversight of the Bank’s Audit Department. He is also responsible for the Audit Application Competency Center of the Federal Reserve System.
Since joining the Cleveland Reserve Bank in 1993, Mr. Meder has been responsible for the safety and soundness of the Fourth Federal Reserve District’s community banking organizations; led the Credit Risk Management, Statistics and Analysis, and Financial Support Services Departments, including Strategy and Performance Management; and served as vice president of regional bank, community bank, and thrift holding company supervision in the Supervision and Regulation Department.
Mr. Meder earned a BBA with a concentration in accounting from Cleveland State University and an MBA from The Ohio State University. He holds a certification in risk management assurance.
Susan M. Steinbrick
Executive Vice President and Chief Financial and Information Officer
Susan M. Steinbrick is executive vice president and chief financial and information officer at the Federal Reserve Bank of Cleveland. She is responsible for leading the areas of financial support services, information technology, information security, enterprise risk management, strategy and performance management, continuous improvement, and business continuity. Prior to joining the Bank in 2009, Ms. Steinbrick was senior vice president and assistant general auditor at KeyCorp, responsible for internal audit activities and enterprise-wide model validation.
Ms. Steinbrick serves as chair of the Cleveland Reserve Bank’s Enterprise Risk Committee. She also serves as chair of several Federal Reserve committees and participates in the Federal Reserve System’s Risk Management Committee, the Advisory Group on Financial Management, and the Technology Services Council. She is the executive sponsor of the Federal Reserve System Application Development Leadership Team.
Ms. Steinbrick holds a BS in international business from Lake Erie College, an MBA from Case Western Reserve University, and a certificate of accountancy from John Carroll University. She is also a certified public accountant, a certified information systems auditor, and a graduate of the ABA Stonier Graduate School of Banking.
Executive Vice President and Director of Research
Ellis Tallman is executive vice president and director of research at the Federal Reserve Bank of Cleveland, for which he leads the Research Department’s efforts in conducting economic research and policy analysis. He advises the Bank’s president on monetary policy and related matters. Dr. Tallman’s research currently focuses on macroeconomics, economic forecasting, and US historical episodes of financial crises and policy responses.
Prior to joining the Cleveland Reserve Bank, Dr. Tallman was the Danforth-Lewis Professor of Economics and the Department of Economics chair at Oberlin College. Prior to joining Oberlin, he served as a vice president and team leader for the macroeconomics group in the Research Department at the Federal Reserve Bank of Atlanta and as an adjunct professor at Emory University. He also served a two-year appointment as a visiting senior research economist at the Reserve Bank of Australia.
Dr. Tallman earned a BA in economics from Indiana University and an MA and a PhD in economics from the University of Rochester.
For more information, see Dr. Tallman’s bio here.
Senior Vice President and Chief of Staff
Senior Vice President and Chief of Staff
Peggy Velimesis is senior vice president and chief of staff at the Federal Reserve Bank of Cleveland. She is also responsible for the Executive Office. Since joining the Cleveland Reserve Bank in 1996, Ms. Velimesis has served as vice president of Human Resources, directed the Bank’s Office of Minority and Women Inclusion (OMWI), and served as the Bank’s Equal Employment Opportunity officer. She was appointed senior vice president in 2001 and assumed chief of staff responsibilities in 2010.
Prior to joining the Bank, Ms. Velimesis was a vice president for a large healthcare organization. As a member of its executive management team, she had administrative responsibility for two hospitals. She has special expertise in labor and employee relations and change management. She has been a member of the Society of Human Resource Management, and served on United Way’s Human Resources Advisory Committee and on a number of other not-for-profit boards and advisory groups, including those of the ERC and Children’s Hunger Alliance.
Ms. Velimesis earned a BBA and an MBA from Cleveland State University.
Lisa M. Vidacs
Senior Vice President
Lisa M. Vidacs is a senior vice president at the Cleveland Fed, overseeing Corporate Communications and Engagement. After joining the Bank in 1987, she held management positions in both the Cash and Check Departments before being appointed assistant vice president in 2003. She was appointed vice president in 2005 and served as chair of the Bank Management Committee. In 2007, Ms. Vidacs was appointed senior vice president. She currently sits on the Bank’s Executive Leadership Team and serves as chair of the Federal Reserve System’s Subcommittee on Public Information.
Ms. Vidacs earned a BBA in finance from Kent State University. She is a graduate of the BAI Graduate School of Bank Operations and Technology conducted by BAI and Vanderbilt University and of Leadership Cleveland.
Ms. Vidacs serves on the board of the Cleveland Furniture Bank and on the Northeast Ohio regional board of Children’s Hunger Alliance.
Senior Vice President
Margie Wright-McGowan was appointed senior vice president of the Human Resources Department at the Cleveland Fed in 2017. Her expertise includes aligning human resource strategy with business goals to achieve significant improvements in employee engagement, organizational productivity, and management capability.
Prior to her appointment at the Cleveland Fed, Wright-McGowan was the vice president of human resources, talent, and culture at the Vitamix Corporation in Cleveland, Ohio. In this role, she led the Global Human Resources function, overseeing all human resources aspects of the organization, and was a member of the senior leadership team. Before joining Vitamix, she was divisional human resources leader for Siemens Healthcare.
She is a member of the board of the Lakewood Catholic Academy and supports the Cleveland Clinic Children’s Center for Autism.
Wright-McGowan holds a BA in political science from Ohio University, and she attended the strategic management program at Yale University and the human resources development program at the University of Michigan.