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Philadelphia Fed Appoints Lockheed Martin Executive to Its Business Council

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

PHILADELPHIA - The Federal Reserve Bank of Philadelphia has appointed Michael F. Camardo, executive vice president of Lockheed Martin Technology Services, Cherry Hill, N.J., to 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.

Prior to his position at Lockheed Martin Technology Services, Camardo served as a group president for Martin Marietta Services. He also worked for nearly 30 years in executive positions at RCA and General Electric.

Camardo is the chairman of the board for Our Lady of Lourdes Medical Center Healthcare Services Inc., and the Haddonfield Symphony Orchestra. He is a member of the executive advisory council of Rutgers University's School of Business in Camden and a member of the Greater Camden Partnership. He holds a bachelor's degree in economics from Villanova University.

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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