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Former Morgan Stanley, Schwab Exec Named First VP of New York Fed

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What You Need to Know

  • Naureen Hanseen will be the second-highest ranking officer of the New York Federal Reserve Bank.
  • She is the former chief digital officer for Morgan Stanley Wealth Management and a former Charles Schwab executive.
  • NY Fed President John C. Williams says Hassan's technology and financial experience will be critical to her new role.

Naureen Hassan, the former chief digital officer for Morgan Stanley Wealth Management and a former executive at Charles Schwab, in its Advisor Services and Investor Services divisions, has been named a first vice president at the New York Federal Reserve Bank.

Hassan will serve as the second-highest ranking officer of the New York Fed and as an alternate voting member of the Federal Open Market Committee, which sets Federal Reserve policy, starting March 15. The New York Fed is the only Fed Reserve Bank that is a permanent member of the FOMC.

“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,” said New York Fed President and CEO John C. Williams, in a statement.

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

Denise Scott, executive vice president of the Local Initiatives Support Corporation (LISC), chair of the New York Fed’s board of directors and a  member of the search committee tasked with filling the executive VP slot, noted that Hassan’s role will be “critical to advancing the bank’s mission and strategic priorities.”

Nassan’s Background

Nassan left Morgan Stanley a year ago and then became a member of the board of directors of OneSpan, which operates a cloud-based anti-fraud platform. In July, she joined the board of Ascensus, an independent recordkeeping and third-party administration services firm, according to her LinkedIn page.

It’s not clear whether Hassan will continue those appointments after taking on her role at the New York Fed.

Before joining Morgan Stanley in 2016, Hassan was the executive vice president leading Investor Services segments and platforms at Charles Schwab and a member of the firm’s Executive Committee.

She also led the team that developed Schwab Intelligent Portfolios, served as COO of Schwab Bank and had leadership roles in Schwab Advisor Services.

Prior to the roughly 12 years she was with Schwab, Hassan spent about five years at McKinsey. She is a graduate of Princeton University and the Stanford Graduate School of Business.