The Federal Reserve Bank of New York said two of its top officers are departing — including Simon Potter, who oversees its strategically vital trading desk — in a rare double exit from the senior ranks of the U.S. central bank.
Potter and fellow executive vice president Richard Dzina, who ran the bank’s financial services group, will both step down effective June 1, the bank said in a statement Tuesday. It will launch a search to find their successors.
Their departures — which between them take almost 50 years of New York Fed experience with them — come about a year into John Williams’s tenure as president of the bank.
Potter had been seen in some quarters as a potential contender to take the helm in New York before Williams, who was then head of the San Francisco Fed, won the pick.
The New York Fed is the most important of the 12 regional Fed banks because of its oversight of Wall Street and execution of monetary policy via the desk that Potter ran.