The Federal Reserve Bank of St. Louis tapped Alberto Musalem as its next president and CEO, effective April 2.
Musalem succeeds Jim Bullard, who resigned from his role in July 2023 after 15 years as the St. Louis Fed’s president and CEO. Bullard left to take a job as the dean of the business school at Purdue University.
Musalem will fulfill the remainder of Bullard’s current five-year term that ends on Feb. 28, 2026. At that time, Musalem will be considered for reappointment. Until his April 2 start date, St. Louis Fed First Vice President Kathy O’Neill will serve as interim president and CEO.
In this new role, Musalem will lead the 1,500 employees of the St. Louis Fed and represent the Eighth Federal Reserve District in national monetary policymaking on the Federal Open Market Committee. He will participate in FOMC meetings upon his start date and will be a voting member in 2025.
“Alberto will be an outstanding president and CEO of the St. Louis Fed. 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. 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,” St. Louis Fed Director Carolyn Chism Hardy, president and CEO of Chism Hardy Investments in Bartlett, Tenn., said. Hardy is deputy chair of the Bank’s search committee.
Most recently, Musalem was CEO, co-chief investment officer and co-founder of Evince Asset Management, a quantitative investment technology company. Before that, he served as executive vice president and senior advisor to the president at the Federal Reserve Bank of New York. There, he was head of integrated policy analysis, international affairs and a member of the Bank’s Management Committee. Prior to the New York Fed, he was managing director, partner and global head of research at Tudor Investment Corporation focusing on the interaction of economic policy, macroeconomic performance and markets.
During his 27-year career, Musalem was also an economist at the International Monetary Fund, where he worked on monetary policy and inflation targeting frameworks, fiscal responsibility rules and banking systems.
“I am deeply honored to serve as the next president of the St. Louis Fed and grateful for the opportunity to promote a strong, resilient and inclusive economy,” Musalem said. “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. 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.”
Further, Musalem is an adjunct professor of finance at Georgetown University’s McDonough School of Business and serves on the boards of the Federal Home Loan Mortgage Corporation and Man Group. He will step down from these positions before taking office.