(Reuters) – The Federal Reserve Bank of New York on Thursday filled top roles on its markets desk and financial services group, plugging leadership gaps in units responsible for critical functions essential to Wall Street and the banking system as a whole. The appointments come as the New York Fed, the most important of the 12 regional banks in the Fed system, is working to regain the confidence of financial markets that was shaken when this fall’s wild swings in money markets appeared to have caught it off guard. They also come roughly six months after two veteran executives – Simon Potter in markets and Richard Dzina in financial services – abruptly left their roles. Starting in early 2020, Daleep Singh, a senior partner and chief U.S. economist at SPX Capital, a global investment firm, will become head of the markets group. Meanwhile Lorie Logan, a long-time deputy to Potter, will run the System Open Market Account, the unit that deals directly with Wall Street firms, oversees the Fed’s $4 trillion bond portfolio and is responsible for implementing the Fed’s interest rate policy. Singh and Logan’s roles were created to fill the job previously held by Potter. Christopher Armstrong, who… Read full this story
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