New York Fed names Sushmita Shukla as First VP & COO

The Board of Directors of the Federal Reserve Bank of New York has appointed Sushmita Shukla as First Vice President and Chief Operating Officer, effective March 2023. The appointment was approved by the Board of Governors of the Federal Reserve System. As First Vice President, Ms. Shukla will be the New York Fed’s second ranking officer. Together with the Bank’s President and Chief Executive Officer, she will establish, communicate, and execute the strategic direction of the organization. She will also serve as an alternate voting member of the Federal Open Market Committee.

Accordinh to John C. Williams, President and Chief Executive Officer of the New York Fed. “She has an in-depth knowledge of technology and agile innovation methods and is passionate about creating a truly diverse and inclusive culture.”  Indian-origin veteran  Ms. Shukla has served in leadership roles in the insurance industry for nearly 20 years, primarily leading operations, technology, and enterprise-wide transformation efforts.  Shukla is currently Senior Vice President and Chief Operations Officer for International Accident & Health at Chubb, the world's largest publicly traded property and casualty insurance company. “I am honoured to have the opportunity to work for a mission-driven organisation like the New York Fed. I look forward to applying all that I've learned in my career including my technology, operations, and risk-focused experiences to furthering the key activities and supporting the dedicated leadership of this critical institution,” Shukla said in the statement.