The Federal Reserve Bank of St. Louis has named its
Alberto G. Musalem, a Georgetown University adjunct professor and former Fed official, will take the reins at the regional reserve bank on April 2. He will take over the post which has been vacant since longtime president
Musalem, 55, is an economist by training with two degrees from the London School of Economics and a doctorate from the University of Pennsylvania. His career has included stints in investment and asset management, academia and public policy — including three years apiece at the International Monetary Fund and Federal Reserve Bank of New York, where he held the position of executive vice president.
As president of the St. Louis Fed, Musalem will oversee a staff of roughly 1,500 employees who carry out the reserve bank's various duties, including conducting research, implementing monetary policy, providing financial services and supervising banks in the Federal Reserve's Eighth District, which spans parts of Missouri, Illinois, Indiana, Kentucky, Mississippi and Tennessee, and all of Arkansas.
During the search process, the reserve bank emphasized the importance of a president with "respected credentials in macroeconomics," as well as someone comfortable serving as a thought leader and steward of the St. Louis Fed's vaunted Federal Reserve Economic Data, or FRED, system, which is one of the largest publicly available economic databases in the world.
In a prepared statement, St. Louis Fed Director Carolyn Chism Hardy, who served as deputy chair on the presidential search committee, said Musalem will be "an outstanding president and CEO" of the reserve bank.
"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," Chism Hardy, who also serves as president and CEO of Chism Hardy Investments LLC in Bartlett, Tenn., said. "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."
Along with his time spent at the IMF and New York Fed, Musalem also has extensive experience in the private sector. He spent 13 years at the Tudor Group, a Connecticut-based hedge fund, and co-founded his own asset management firm, Evince Asset Management, in 2018, where he served as CEO and co-chief investment officer.
In 2021, he joined the board of Freddie Mac, and in 2022 he took a board position with Man Group, a U.K.-based investment management firm. He will step down from both positions before joining the St. Louis Fed.
As the leader of one of the Federal Reserve System's 12 regional banks, Musalem will be a part of the Federal Open Market Committee on a rotating basis. He will be an alternate member this year and voting member next year.
Musalem will serve for the remainder of Bullard's unfinished term, which ends on Feb. 28, 2026, at which point he will be eligible for reappointment to a full five-year term. Until he takes office, St. Louis Fed Vice President Kathy O'Neill will continue to lead the reserve bank on an interim basis.
In a statement, Musalem said he was "deeply honored" and "grateful" for the opportunity to serve as the St. Louis Fed's 13th president.
"I look forward to engaging with the people and communities of the Eighth Federal Reserve District to represent this part of the country at the monetary policy table," he said. "I am thrilled to lead the outstanding St. Louis Fed team in our service to the district and the nation as a fiscal agent for the U.S. Treasury, supervisor of financial institutions, research engine and innovator. I am eager to get started."
