November 25, 2008
Committee to find Geithner’s replacement
The Federal Reserve Bank of New York is looking for a new head since since Tim Geithner was named as President-elect Barack Obama's pick for treasury secretary.
The bank's board is preparing to create a search committee to select a candidate for the $398,200-a-year job, The Financial Times reported Tuesday.
Geithner has not yet formally resigned from the New York Fed. Once he resigns, the newspaper said, the bank will set up a search committee to draft a list of candidates and make the final choice.
Members of the bank's board of directors includes several chief executives, including Jamie Dimon of JPMorgan Chase, Jeffrey Immelt of General Electric and Indra Nooyi of PepsiCo.