Atlanta Fed Retains Heidrick & Struggles for President/CEO Search
March 11, 2026 – Leadership searches for top roles within the Federal Reserve system rarely come to market, making them highly visible assignments within the executive search industry. When they do, institutions often turn to globally recognized firms to help identify candidates with the experience and credibility required to guide regional monetary policy organizations. One such search is now underway in the Southeast. Heidrick & Struggles was recently retained by the Atlanta Fed to identify the next president and CEO for the Sixth District. Raphael Bostic retired on February 28, 2026, concluding an eight-and-a-half-year tenure. Timothy Holt, Donald Chae, Ellen Brown Landers, Emily Chang, and Brea Purdie are leading the search on behalf of Heidrick. “We are honored to be partnering with the Federal Home Loan Bank of Des Moines to identify their next president and CEO,” Mr. Holt said in a LinkedIn post.
At the Atlanta Fed, the next president and CEO will inherit a high‑performing, financially strong, and operationally sound institution and will be expected to provide continuity of excellence while leading with independent judgement, foresight, and a strong commitment to public service. This executive participates with the other 11 Reserve Bank presidents and the seven members of the Board of Governors in the process of debating and deciding U.S. monetary policy.
A president’s involvement in the supervision of financial institutions will vary by the types and sizes of the institutions located in the president’s District and their financial condition. The president is responsible for ensuring that the Bank’s supervisory staff carries out their responsibilities as set forth by the Board of Governors. The president plays an important contact role, especially in times of financial problems. While Bank supervision and regulatory decisions are made by the Board of Governors, the president may provide valuable input into the regulatory process through participation on joint Bank/board committees and providing comments on regulatory proposals.
Ideal candidates are seasoned leaders with proven high executive functioning ability and experience in the private sector, public sector, and/or academia who can be credible and compelling on the most topics most critical to The Bank, its District, and the System. They bring credibility with senior counterparts in policy, regulatory, and market arenas; a record of shaping and executing strategy in complex organizations; and experience building high‑performing teams and healthy cultures across a broad geographical footprint. They are an effective public communicator and trusted steward of the Federal Reserve’s independence, able to balance District and System responsibilities while leading the Atlanta Fed in a more visible, scrutinized environment.
The Federal Reserve Banks seek candidates who can guide the focus of the Bank’s economic research and gather economic intelligence through interactions with the Bank’s board of directors and other business and community contacts as well as provide keen insights to FOMC policy discussions. They will demonstrate a strong commitment to the Federal Reserve’s ethics, conflicts‑of‑interest, and financial disclosure standards, managing personal financial affairs and outside activities in full alignment with these requirements.
Related: The Federal Reserve of Dallas Calls in Egon Zehnder to Find New Leader
Candidates must have proven expertise formulating and executing strategy in complex institutional environments, informed by macroeconomic conditions, financial market dynamics, and emerging risks. The president of a Federal Reserve Bank is appointed for a term of five years.
Founded by Congress in 1913
The Federal Reserve System was founded by Congress in 1913 and serves as the central bank of the U.S. Its fundamental mission is to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems to promote optimal economic performance. As part of the nation’s central bank, the Bank promotes sound growth and financial stability in New England (Connecticut except Fairfield County, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont) and the nation.
Spencer Stuart Recruits CEO for the Philadelphia Fed
Spencer Stuart has placed Anna Paulson as the 12th president and CEO of the Philadelphia Fed. She succeeds Patrick T. Harker. “Anna Paulson’s economics and monetary policy expertise, as well as her leadership at the Chicago Fed and throughout the Federal Reserve System, make her the ideal person to serve as president of the Federal Reserve Bank of Philadelphia,” said Anthony Ibargüen, executive chair, Culligan Quench and Culligan Latin America and chair of the search committee and of the Philadelphia Fed board of directors. “For two decades, Anna has demonstrated a strong commitment to the Federal Reserve’s dual mandate of price stability and maximum employment. Her expansive technical expertise and mission-driven focus will be a tremendous asset to the Philadelphia Fed and the communities it serves.”
Heidrick & Struggles’ financial services practice advises organizations across the global financial sector on leadership and talent needs. According to the firm, its team works with institutions to identify and recruit senior executives and help organizations address leadership challenges in a rapidly evolving, digital, and data-driven industry. The practice supports clients across a range of subsectors—including banking, asset management, and payments, among others.
Mr. Holt is a partner in Heidrick & Struggles’ New York office and a longstanding member of the financial services, CEO & board of directors, and social impact practices. He is a trusted advisor to boards, CEOs, and public sector leaders navigating complex leadership transitions. With nearly 25 years at the firm, he is highly experienced in CEO and board succession, leadership assessment, and governance effectiveness, particularly in high-stakes, sensitive environments. Mr. Holt has built a practice at the intersection of the private, public, and civic sectors. He advises commercial banks, credit unions, central banks, government-sponsored enterprises (GSEs), multilateral development banks (MDBs), regulators, cooperatives, non-profits, and associations.
Related: Diversified Search Group Recruits CEO for Federal Reserve Bank of Chicago
Mr. Chae is a partner in Heidrick’s Chicago office and a member of the Financial Services and Financial Officers practices. He works with clients on CEO succession planning, C-suite executive searches, and board director searches across sectors in financial services, with a focus on consumer and retail banking and fintech, for both public and private equity businesses. Mr. Chae worked with another global executive search firm prior to joining Heidrick & Struggles.
Ms. Landers is a senior advisor in Heidrick’s Atlanta office and a member of the social impact practice. She works closely with boards and senior leadership teams at mission-oriented organizations to provide counsel on executive leadership, organizational strategy, and board effectiveness. Ms. Landers conducts a wide range of searches for universities and colleges, including chancellors, presidents, provosts, functional vice presidents, general counsels, and deans. She also works with foundations, government agencies, associations, and other nonprofits on executive level assignments and related advisory services.
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Ms. Chang is an associate at Heidrick’s, specializing in executive search within the financial services practice since September 2023. Previously, she held roles as a technical sourcing recruiter at Amazon Web Services (AWS), where impactful recruitment initiatives were undertaken, and as a legislative intern at the Government Accountability Project, supporting advocacy for the Whistleblower Protection Improvement Act.
Ms. Purdie is an experienced executive search professional at Heidrick’s, where she specializes in leveraging comprehensive market research, data analysis, and strategic intelligence to drive high-impact talent acquisition outcomes. Her expertise is in crafting tailored search strategies, designing client-facing presentations, and delivering detailed reports that align with organizational objectives and client needs.
Related: Spencer Stuart and Bridge Partners Land New Leader for Federal Reserve Bank of New York
Contributed by Scott A. Scanlon, Editor-in-Chief and Dale M. Zupsansky, Executive Editor – Hunt Scanlon Media
