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Former Philadelphia Phillie Appointed Federal Reserve Bank Director

For release: February 19, 2003
Contact: Kathy Woodbury, (215) 574-4119

PHILADELPHIA, Pa. - Garry L. Maddox, a former major-league baseball player with a career spanning 14 years, recently was appointed to the Federal Reserve Bank of Philadelphia's Board of Directors. Maddox began his term on Jan. 1, 2003. His term will expire Dec. 31, 2006.

Maddox and the other eight directors oversee the operations of the Bank to ensure it is run efficiently and that its management follows sound business practices. He also has an opportunity to contribute to our nation's monetary policy during board meetings in which the directors give input about trends and developments in their business or industry.

Maddox was a center fielder for the San Franciso Giants (1972-1975) and for the Philadelphia Phillies (1975-1986). He is the winner of eight Gold Glove awards.

Currently, Maddox is the CEO of A. Pomerantz & Company, an office furniture dealer in Philadelphia, and he is the president of World Wide Concessions Inc., an advertising specialty company in Bellmawr, N.J.

Maddox is the founder and president of the Youth Golf & Academics Program, an organization that works with inner-city youth in Philadelphia and Camden. In 1997, he helped establish the LPGA (Ladies Professional Golf Association) Urban Youth Golf Program of Atlantic City and served as its executive director for three years.

Maddox also serves on the boards of the Chamber of Commerce ofSouthern New Jersey, Greater Philadelphia Chamber of Commerce, Fairmount Park Commission, National Adoption Center, and several other organizations.

A resident of Penn Valley, Pa., Maddox is a Vietnam veteran.

The Federal Reserve Bank of Philadelphia serves depository institutions in eastern Pennsylvania, southern New Jersey, and Delaware by supplying cash to these banks and thrifts, supervising them, collecting and processing about 5 million checks daily, wiring money and securities nationwide, as well as participating in the broader objective of setting monetary policy.

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