Everyone is now aware who Naureen Hassan is. Well, she is an Indian American, a financial expert, named as the First Vice President and Chief Operating Officer (COO) of the Federal Reserve Bank of New York.
On Thursday, March 4, the Bank of New York made the announcement. In the statement, the Bank said Hassan would be the New York Fed’s second ranking officer and an alternate voting member of the Federal Open Market Committee.
New York Fed President and CEO John C Williams said that Naureen’s leadership background, deep commitment, extensive technology and financial experience are critical to her role as a leader.
Hassan’s parents are immigrants from Kerala, India.
She has served in various capacities in the financial services industry. Her prime focus was on digital and business process transformation. She was Chief Digital Officer of wealth management at Morgan Stanley for the last four years. Before that, she also worked at Charles Schwab Corporation as a vice president of corporate strategy and as executive vice president of investor services, segments and platforms.
At Morgan Stanley, she was responsible for the business’s digital transformation, strategy and delivery focused on modernising. She was the leader of the product development teams that built digital marketing capabilities, consumer facing technologies and artificial intelligence-enabled platforms for advisors.
She also served as the Chief Operating Officer of Schwab Bank, one of the top 15 banks in the US. She held leadership roles in Schwab Advisor Services. She had also worked at McKinsey and Company. She was a member of the Board of Directors at OneSpan, a multi million revenue public security software and hardware firm. Apart from this, she also worked with Ascensus, one of the largest independent recordkeeping services provider, third-party administrator and government savings facilitator.
Hassan is also on the board of the California Academy of Sciences and Cathedral School for Boys in San Francisco. She holds a BA from Princeton University and a Masters of Business Administration from the Stanford University Graduate School of Business.