US: India-origin woman becomes 1st Vice President, COO of Federal Reserve Bank of New York

Sushmita Shukla, an Indian-origin veteran of the insurance industry, has been appointed as First Vice President and Chief Operating Officer at the Federal Reserve Bank of New York, making her the second-ranking officer at the prominent institution.

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

Shukla, 54, has been appointed by the Board of Directors of the Federal Reserve Bank of New York as First Vice President and Chief Operating Officer, effective March 2023.

As First Vice President, Shukla, who has an MBA from New York University and a bachelor’s degree in electrical engineering from the University of Mumbai, will be the New York Fed’s second-ranking officer.

Shukla said in the statement that she is honoured to have the opportunity to work for a mission-driven organisation like the New York Fed.

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