Spencer Stuart Recruits CEO for the Philadelphia Fed
June 13, 2025 – 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.”
The selection of Ms. Paulson follows an expansive national search process that was announced in September 2024 and is consistent with Federal Reserve policies and the Federal Reserve Act. The search committee was composed of the Federal Reserve Bank of Philadelphia’s eligible Class B and Class C directors (nonbanking directors) in accordance with the Federal Reserve Act and the Bank’s bylaws.
Ms. Paulson has 20 years of experience as a leader in policy analysis and research related to financial stability and monetary policy. As executive vice president and director of research at the Chicago Fed, she advises the bank’s president and CEO on monetary policy and attends FOMC meetings. Ms. Paulson leads the Chicago Fed’s research and policy analysis work, overseeing the department that provides analytic support for monetary policymaking, and conducts research on banking and financial markets, macroeconomics, microeconomics, and the regional economy. In addition, she is an expert on financial markets and institutions, with particular expertise in the insurance industry. Ms. Paulson established the Chicago Fed’s Insurance Initiative, which analyzes financial stability and regulatory issues in the insurance industry on behalf of the Federal Reserve System. During her time at the Chicago Fed, she also oversaw the Bank’s public affairs and community development divisions.
Ms. Paulson joined the Chicago Fed as an economist in 2001 after serving as an assistant professor of finance at the Kellogg School of Management at Northwestern University, and prior to that she was a postdoctoral fellow at Princeton University. In 2009, she was promoted to vice president in the Financial Markets Group and became associate director of research in 2017. Ms. Paulson was promoted to director of research in 2019.
As president, Ms. Paulson will help shape monetary policy as a member of the FOMC and will also be responsible for all of the Bank’s activities, including payment services, bank supervision, and community engagement. She will build and maintain relationships with a variety of constituencies, including business leaders and community representatives, to gain insight into the Third District’s economy.
Related: Spencer Stuart Assists St. Louis Fed with CEO Search
“I am honored to serve as the next president of the Federal Reserve Bank of Philadelphia,” Ms. Paulson said. “I look forward to meeting people throughout the Third District and leading the Philadelphia Fed team who are deeply committed to fostering the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems. I am excited to become part of the community in the Third District.”
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 Finds New Leader for the Federal Reserve Bank of Boston
Spencer Stuart recently assisted in the placement of Susan M. Collins as the new president and CEO of the Federal Reserve Bank of Boston. Eric Rosengren recently announced his retirement as Federal Reserve Bank of Boston president. The announcement follows a rigorous search, selection by the eligible (non-banker) members of the bank’s board of directors, and approval by the Washington-based board of governors of the Federal Reserve System.
Privately held since 1956, Spencer Stuart focuses on delivering knowledge, insight, and results through the collaborative efforts of a team of search professionals — now spanning 56 offices, 30 countries, and more than 50 practice specialties. The firm helps boards and leaders address their leadership needs in areas such as senior-level executive search, board recruitment, board effectiveness, succession planning, in-depth senior management assessment and many other facets of organizational effectiveness.
Assisting the Federal Reserve
Spencer Stuart has assisted with the hiring of half of the current Fed presidents, including that of New York Fed’s John Williams in 2018, as well as the system’s first black regional Fed president, Atlanta Fed’s Raphael Bostic, in 2017, as well as its only other non-white president, Minneapolis Fed’s Neel Kashkari. Spencer Stuart was also involved in the search for Cleveland Fed’s Loretta Mester in 2013 and Chicago Fed’s Charles Evans in 2007.
Spencer Stuart works with clients across the asset management, consumer financial services, global banking and markets, insurance, private wealth management, and real estate sectors. The financial services industry represents one-fifth of Spencer Stuart’s worldwide client base. The firm has conducted more than 3,600 senior-level executive assignments over the past three years. Nearly one-third of its placements in the industry are diverse. Seventy percent of Spencer Stuart’s assignments annually are for returning clients.
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
