December 9, 2022
1 min read

Indian-origin breaks another ceiling in US

As First Vice President, Shukla, 54, will be the institution’s second ranking officer…reports Asian Lite News

The Federal Reserve Bank of New York has appointed Indian-origin insurance veteran Sushmita Shukla as First Vice President and Chief Operating Officer.

As First Vice President, Shukla, 54, will be the institution’s second ranking officer.

Her appointment was approved by the Board of Governors of the Federal Reserve System, the New York Fed said in a statement on Thursday.

“I am honored to have the opportunity to work for a mission-driven organisation like the New York Fed,” Shukla said in a statement.

“I look forward to applying all that I’ve learned in my career, including my technology, operations, and risk-focused experiences, to furthering the key activities and supporting the dedicated leadership of this critical institution,” she added.

Together with the Bank’s President and Chief Executive Officer, Shukla will establish, communicate, and execute the strategic direction of the organisation.

She will also serve as an alternate voting member of the Federal Open Market Committee.

“Sushmita is a dynamic, inspiring, and highly effective leader who brings extensive experience leading large-scale enterprises and transformation initiatives to the Bank,” said John C Williams, President and Chief Executive Officer of the New York Fed.

“She has an in-depth knowledge of technology and agile innovation methods and is passionate about creating a truly diverse and inclusive culture,” he added.

Shukla has served in leadership roles in the insurance industry for nearly 20 years, primarily leading operations, technology, and enterprise-wide transformation efforts.

For the past five years, she has been Senior Vice President and Chief Operations Officer for International Accident & Health at Chubb — the world’s largest publicly traded property and casualty insurance company.

Shukla, who resides in Connecticut, is an MBA from New York University and a bachelor’s degree in electrical engineering from the University of Mumbai.

ALSO READ: Indian-origin Rachna Singh makes history as 1st South Asian minister in Canada

Previous Story

INTERVIEW: Nirupama Rao

Next Story

Nearly a million immigrants became citizens in FY 2022

Latest from India News

India-Czechia Boost Defence, Industry Ties

The meeting underscored mutual intent to scale up cooperation in key sectors such as defence production, exchange of training programmes…reports Asian Lite News Underlining the growing strategic defence partnership, the 7th India-Czechia

Palestine wants India in Gaza rebuilding coalition

Palestine seeks India’s inclusion in a Saudi-led coalition to rebuild Gaza, hoping New Delhi’s participation will reinforce its long-standing support for the two-state solution. As the Gaza war enters its third year,

Modi, Starmer Unite Against Terror

The two Prime Ministers also agreed to expand bilateral exchanges between the armed forces of India and UK through joint exercises…reports Asian Lite News During their meeting in Mumbai on Thursday, Prime

Sai’s Time Is Coming!

Sudharsan, soon to turn 24, faces mounting pressure to justify his place at number three, considering the stakes are forever high in Indian cricket’s unforgiving selection landscape, as seen from cases of
Go toTop

Don't Miss

US Judge Denies Trump’s Request in Hush-Money Trial

The Judge will also permit Stormy Daniels to testify as

EU envoy terms India stint as momentous

Astuto lauded India’s G20 presidency and also termed the launch