Barkin tapped as next president of Richmond Fed bank

By MARTIN CRUTSINGERMarketsAssociated Press

The Federal Reserve's Richmond regional bank is announcing that Thomas Barkin, a senior executive at global management consulting firm McKinsey & Co., will be the bank's next president.

He will succeed Jeffrey Lacker, who resigned as the bank's president in April after revealing his involvement in a leak of confidential information in 2012 that had triggered congressional and FBI investigations.

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Barkin, 56, who will take over at the Richmond bank on Jan. 1, will be a voting member next year of the Federal Open Market Committee, the panel of Fed board members and regional bank presidents, who set interest-rate policies for the central bank.

Barkins' appointment was announced Monday by Margaret Lewis, who headed the bank's search committee. Barken is currently the chief risk officer at McKinsey & Co.