Keralite named 1st VP, COO of NY Fed

Another financial star from Kerala is on the rise in the US. Naureen Hassan’s parents are immigrants from Aluva, Kerala, India. Her father, Javad K. Hassan was a former senior executive at IBM

Indian-American Naureen Hassan, a 25-year veteran of the financial services industry, has been named as the First Vice President and Chief Operating Officer (COO) of Federal Reserve Bank of New York. She is following the footsteps of Gita Gopinath, the IMF chief economist.

Naureen Hassan

Naureen Hassan’s parents are immigrants from Aluva, Kerala, India. Her father, Javad K. Hassan was a former senior executive at IBM and former president of Global Inter Connect Systems at AMP Inc (now TE Connectivity).

In a statement, the Bank said that the appointment effective March 15, was approved by the Board of Governors of the Federal Reserve System.

“As First Vice President, Hassan will be the New York Fed’s second ranking officer as well as an alternate voting member of the Federal Open Market Committee,” the statement said.

“Naureen’s leadership background, deep commitment to fostering diverse teams, and extensive technology and financial experience will be critical to her role as a bank leader,” John C. Williams, President and CEO of the New York Fed, was quoted as saying in the statement.

“I am confident that Naureen will be an inspiring and innovative leader, and look forward to working with her to move our organisation forward in line with our values,” he added.

Meanwhile, Denise Scott, Executive Vice President of the Local Initiatives Support Corporation (LISC) and chair of the New York Fed’s Board of Directors, said that “Naureen’s leadership experience and operational expertise are fully aligned with what the search committee and I envisioned for this role”.

According to the statement, Hassan has previously served in various capacities in the financial services industry, focusing primarily on digital and business process transformation.

For the past four years, she was Chief Digital Officer of wealth management at Morgan Stanley.

READ MORE: Gita Gopinath takes over as IMF chief economist

READ MORE: TCS becomes most valued IT company