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Philadelphia Fed Makes Appointments to Business Council

For release: August 21, 2002
Contact: Kathy Woodbury, (215) 574-4119

PHILADELPHIA - The Federal Reserve Bank of Philadelphia has appointed several business leaders to serve on its Business Council for a three-year term beginning this year. The 12-member council advises Federal Reserve officials about regional business conditions and economic issues that have an impact on the marketplace. The new council members include:

Lynn Banta, owner of Twin Stacks Development Co. Inc., Dallas, Pa., is a member of the Pennsylvania Bar Association, Wyoming Real Estate Investors Association, and the Pennsylvania Landlords Association. She is a director of World Links Inc., Scranton, Pa., and RLT Industries Inc., Downingtown, Pa. Banta works with Imaging Partners Inc., Dallas, Pa. She is chairperson of the Luzerne County Children & Youth's board of directors and sits on the board of the Back Mountain Business Association. She is a member of the Greater Wilkes-Barre Chamber of Commerce and the University Council of Wilkes University. Banta is a member of the Harvey's Lake Zoning Board. She holds a bachelor's degree from Villanova University and a law degree from Delaware Law School, which is now part of Widener University.

William L. Wilson, principal-in-charge of Synterra Ltd., and Synterra Partners, Philadelphia, sits on the boards of the African-American Museum in Philadelphia, Kutztown University's School of the Visual and Performing Arts, Operation Understanding, and the Philadelphia Zoo. He sits on the board of trustees for the Pennsylvania School for the Deaf and the executive committee for the Greater Philadelphia Chamber of Commerce. He works with the City of Philadelphia Percent for Art Council and the United Way's African American Fund Raising Initiative of Philadelphia. He holds a bachelor's degree in landscape architecture from the University of Pennsylvania and a bachelor's degree in ornamental horticulture from Delaware Valley College of Science and Agriculture.

John Milligan, CEO of Milligan and Co. LLC, Philadelphia, is board treasurer for Children's Hospital, Philadelphia, and serves on the board of Montgomery Hospital Medical Center. He is a member of the American Institute of CPAs, Pennsylvania Institute of CPAs, New Jersey Society of CPAs, Maryland Association of CPAs, and the National Association of Black Accountants. He holds a bachelor's degree from Temple University.

Jeffrey J. Trester, co-CEO and director of PriceSCAN.com Inc., Malvern, is the president of Jeffrey J. Trester & Co., which is a consultancy in financial economics and venture capital. He is also a director of Journal Corp., a holding company created by the sale of the Journal-Star newspaper, located in Lincoln, Neb. Trester served as a senior fellow for the Wharton Financial Institutions Center. Prior to that, he was a bond arbitrageur and capital markets banker for Smith Barney, Harris Upham & Co., New York. Trester holds doctorate and master's degrees in finance from the University of Pennsylvania's Wharton School. He attended Yale University's doctoral program in physics. He holds a bachelor's degree in physics from the Massachusetts Institute of Technology.

The Federal Reserve Bank of Philadelphia serves depository institutions in eastern Pennsylvania, southern New Jersey and Delaware. The Bank supplies cash to these banks and thrifts, supervises them, collects and processes about 5 million checks daily, wires money and securities nationwide, and participates in the broader objective of setting monetary policy.

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