Beth M. Hammack

Beth M. Hammack
Beth M. Hammack
12th president of the Federal Reserve Bank of Cleveland
	Incumbent
	Assumed office ; August 21, 2024
Preceded by	Loretta J. Mester
Personal details
Born	Elizabeth Stacy Morgan; 1971 or 1972 (age 52–53); California, U.S.
Spouse	Peter Hammack (m. 2000)
Children	2
Parent	Howard L. Morgan (father);
Education	Stanford University (BA)

Elizabeth Morgan Hammack (born 1971/1972) is the 12th president and CEO of the Federal Reserve Bank of Cleveland.^[1]^[2] Prior to that, Hammack worked at Goldman Sachs for three decades before resigning in 2024 as the co-head of global finance.

Early life

Hammack was born in California to Howard L. Morgan, a venture capitalist, and a mother who worked as an interior designer.^[3]^[4] She grew up in Villanova, Pennsylvania and is the middle of three sisters. In 1989, she graduated from The Baldwin School located in Bryn Mawr, Pennsylvania.^[1]^[5]^[6]

Hammack earned a bachelor's degree from Stanford University in 1993 with a combined major in quantitative economics and history.^[7]^[8] During her academic career, Hammack was part of a council of student presidents at Stanford that included John Louie, who played the Wing Kid in the 1984 film Gremlins and John Overdeck, co-founder and co-chairman of Two Sigma Investments.^[6] She interned twice at the Philadelphia Stock Exchange during her summer breaks. Hammack was accepted to Harvard Business School but decided not to attend.^[6]

Goldman Sachs

She joined Goldman Sachs in 1993 as an analyst in Debt Capital Markets, was named managing director in 2003, and partner in 2010.^[7]^[9] Throughout her time, she held roles as global treasurer, global head of short-term macro trading, and global head of repo trading.^[10] Hammack was former chair of the Treasury Borrowing Advisory Committee; and a former member of the Treasury Market Practices Group, the Financial Research Advisory Committee, and management committee.^[10]^[11]^[12]

Before her departure, Hammack served as the co-head of the Global Financing Group.^[7]

Federal Reserve Bank of Cleveland

On May 29, 2024, it was announced that Hammack was appointed as the next president and chief executive officer of the Cleveland Fed.^[12]^[13] Hammack's term began on August 21, and in this role, she will represent the Fourth Federal Reserve District on the Federal Open Market Committee in the formulation of US monetary policy.^[1]^[12] She is the fourth woman selected to lead the Federal Reserve Bank of Cleveland, the first regional Federal Reserve bank to appoint a female president in 1982.^[14]

Personal life

Hammack married investment banker Peter Hammack in 2000.^[3] The couple has two sons and live in Cleveland.^[15]^[2]

Hammack serves as a board member of Math for America and City Harvest.^[12]^[16]

References

^ ^a ^b ^c "Federal Reserve Bank of Cleveland Names Beth M. Hammack as Next President and CEO". Cleveland Fed. May 29, 2024. Retrieved October 31, 2024.
^ ^a ^b "Beth M. Hammack". Cleveland Fed. Retrieved October 31, 2024.
^ ^a ^b "Weddings; Elizabeth Morgan, Peter Hammack". The New York Times. February 20, 2000. Retrieved November 10, 2024.
^ Campbell, Kyle (May 29, 2024). "Cleveland Fed taps former Goldman Sachs exec as next president". American Banker. Retrieved November 10, 2024.
^ "Beth Morgan Hammack '89 Moving Up the Ranks at Goldman". Baldwin. February 18, 2020. Retrieved October 31, 2024.
^ ^a ^b ^c "The Woman Rising From Goldman Trader to Its Face on Wall Street". Bloomberg. February 13, 2020. Retrieved October 31, 2024.
^ ^a ^b ^c Cox, Jeff (May 29, 2022). "Goldman Sachs partner Beth Hammack to succeed Mester as Cleveland Fed leader". CNBC. Retrieved October 31, 2024.
^ Natarajan, Sridhar (February 21, 2024). "She was set to break Goldman's glass ceiling. Now Beth Hammack is leaving". Bloomberg News. Retrieved November 10, 2024.
^ Jones, Clare; Franklin, Joshua (May 29, 2024). "Former Goldman executive appointed next Cleveland Federal Reserve president". Financial Times. Retrieved November 2, 2024.
^ ^a ^b Irwin, Neil (May 29, 2024). "Former Goldman Sachs executive to lead Cleveland Fed". Axios. Retrieved November 2, 2024.
^ Schonberger, Jennifer (May 29, 2024). "Beth Hammack, ex-Goldman exec, named next Cleveland Fed president". Yahoo Finance. Retrieved November 2, 2024.
^ ^a ^b ^c ^d Mena, Bryan; Buchwald, Elisabeth (May 29, 2024). "Cleveland Fed taps Goldman Sachs veteran Beth Hammack as new president". CNN. Retrieved November 2, 2024.
^ Rugaber, Christopher (May 29, 2024). "Cleveland Fed names former Goldman Sachs executive Beth Hammack to succeed Mester as president". Associated Press. Retrieved November 2, 2024.
^ Matthews, Steve; Marte, Jonnelle; Torres, Craig (May 29, 2014). "Cleveland Fed Names Goldman Veteran Beth Hammack as President". Bloomberg. Retrieved October 31, 2024.
^ Fonda, Daren (March 26, 2021). "Beth Hammack". Barron's. Retrieved November 10, 2024.
^ Kosich, John (May 29, 2024). "Federal Reserve Bank of Cleveland names Beth M. Hammack as next President and CEO". News5 Cleveland. Retrieved November 2, 2024.

External links

Federal Reserve Bank of Cleveland Biography

Other offices
Preceded by Loretta J. Mester	President of the Federal Reserve Bank of Cleveland 2024–present	Incumbent

[CLEFRB1-1] "Federal Reserve Bank of Cleveland Names Beth M. Hammack as Next President and CEO". Cleveland Fed. May 29, 2024. Retrieved October 31, 2024.

[bio-2] "Beth M. Hammack". Cleveland Fed. Retrieved October 31, 2024.

[nyt-wedding-3] "Weddings; Elizabeth Morgan, Peter Hammack". The New York Times. February 20, 2000. Retrieved November 10, 2024.

[am-bank-4] Campbell, Kyle (May 29, 2024). "Cleveland Fed taps former Goldman Sachs exec as next president". American Banker. Retrieved November 10, 2024.

[5] "Beth Morgan Hammack '89 Moving Up the Ranks at Goldman". Baldwin. February 18, 2020. Retrieved October 31, 2024.

[bloom1-6] "The Woman Rising From Goldman Trader to Its Face on Wall Street". Bloomberg. February 13, 2020. Retrieved October 31, 2024.

[CNBC-7] Cox, Jeff (May 29, 2022). "Goldman Sachs partner Beth Hammack to succeed Mester as Cleveland Fed leader". CNBC. Retrieved October 31, 2024.

[bb-ceiling-8] Natarajan, Sridhar (February 21, 2024). "She was set to break Goldman's glass ceiling. Now Beth Hammack is leaving". Bloomberg News. Retrieved November 10, 2024.

[FT-9] Jones, Clare; Franklin, Joshua (May 29, 2024). "Former Goldman executive appointed next Cleveland Federal Reserve president". Financial Times. Retrieved November 2, 2024.

[Axios-10] Irwin, Neil (May 29, 2024). "Former Goldman Sachs executive to lead Cleveland Fed". Axios. Retrieved November 2, 2024.

[Yahoo-11] Schonberger, Jennifer (May 29, 2024). "Beth Hammack, ex-Goldman exec, named next Cleveland Fed president". Yahoo Finance. Retrieved November 2, 2024.

[CNN-12] Mena, Bryan; Buchwald, Elisabeth (May 29, 2024). "Cleveland Fed taps Goldman Sachs veteran Beth Hammack as new president". CNN. Retrieved November 2, 2024.

[13] Rugaber, Christopher (May 29, 2024). "Cleveland Fed names former Goldman Sachs executive Beth Hammack to succeed Mester as president". Associated Press. Retrieved November 2, 2024.

[bloom2-14] Matthews, Steve; Marte, Jonnelle; Torres, Craig (May 29, 2014). "Cleveland Fed Names Goldman Veteran Beth Hammack as President". Bloomberg. Retrieved October 31, 2024.

[barrons-100-15] Fonda, Daren (March 26, 2021). "Beth Hammack". Barron's. Retrieved November 10, 2024.

[16] Kosich, John (May 29, 2024). "Federal Reserve Bank of Cleveland names Beth M. Hammack as next President and CEO". News5 Cleveland. Retrieved November 2, 2024.

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Beth M. Hammack

Early life

Goldman Sachs

Federal Reserve Bank of Cleveland

Personal life

See also

References

External links

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