The Federal Reserve Bank of Minneapolis board of directors today launched a search for a new first vice president and chief operating officer.

James Lyon, current first vice president and chief operating officer, informed the Bank’s board that in accordance with the Federal Reserve System’s mandatory retirement rules, he will conclude his 40-year service to the Minneapolis Fed and retire at the end of March 2017.

“Jim Lyon’s distinguished service to the Minneapolis Fed and to the Federal Reserve System is one that will be long remembered,” said Board Chair MayKao Hang, who is president and CEO of the Amherst H. Wilder Foundation. “Throughout Jim’s career, his capable leadership, sound judgment and management of a wide range of programs and operations has influenced many others and created a legacy of excellence. The System is stronger because of Jim’s enormous contributions.”

In preparation for Lyon’s retirement, the board has created a search committee consisting of Minneapolis Fed President Neel Kashkari and Class B and C directors MayKao Hang, Harry Melander and Larry Simkins. Class B and C directors are not affiliated with supervised entities.

The search firm Spencer Stuart has also been engaged to assist the search committee in conducting a nationwide search to identify a broad, diverse and highly qualified candidate pool. Applicants from both inside and outside the Federal Reserve System are welcome.

“The first vice president is an enormously important role in ensuring that the Minneapolis Fed accomplishes its public mission and in supporting the greater Federal Reserve System,” said Kashkari. “As my partner here in the Bank, the new FVP will serve as a member of the Bank’s management committee, become one of my chief advisers, help nurture and develop our talented Bank staff, and represent the Bank throughout the Federal Reserve System. We look forward to engaging with applicants who are excited to tackle big challenges and join the proud legacy of the Minneapolis Fed.”

President Kashkari will host an open #AskNeel Twitter Q&A at 10 a.m. CT on Friday, Sept. 23, 2016, to answer questions about this new first vice president search while also welcoming questions on other topics.

First Vice President Search Committee Members

• Neel Kashkari, Chair
• MayKao Hang
• Harry Melander
• Larry Simkins

Interested candidates can find more information here:
https://minneapolisfed.org/about/who-we-are/officers/first-vice-president-search-process