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Philadelphia Fed Names New Business Council Members

For release: July 11, 2003
Contact: Marilyn Wimp, media advisor, (215) 574-4197

PHILADELPHIA - The Federal Reserve Bank of Philadelphia has appointed several business leaders to serve on its Business Council for three-year terms 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.

Albert Morrison III is chairman and CEO of Burnham Holdings, Inc. Morrison serves as director for Gas Appliance Manufacturers Association Inc. and is a member of the American Society of Mechanical Engineers, as well as the American Society of Heating, Refrigeration, and Air Conditioning Engineers. He also serves as director for the Lancaster Alliance, a coalition of business executives in Lancaster, Pa. Morrison graduated from Bucknell University with a degree in mechanical engineering and attended the Program for Management Development at Harvard Business School.

Douglass C. Henry Jr., is CEO of Henry Molded Products Inc., Lebanon, Pa. Henry belongs to the Pennsylvania Manufacturers Association, the National Association of Manufacturing, the Institute of Packaging Professionals, and the Pennsylvania Chamber of Commerce. He currently serves as director of finance for Movement Laboratories, and is a member of the Executive Council. He previously served as director for Gretna Productions Inc. He also acts as corporate campaign chairman for Big Brothers Big Sisters. Henry is a graduate of the National Security Program at the U.S. Army War College in Carlisle, Pa., and Boston University, where he majored in management and manufacturing engineering. Henry also holds a master's degree in business administration from Columbia University.

Mark S. Stellini, is president and CEO of Info Systems Inc. Stellini serves as president of the Hewlett Packard Executive Advisory Board and also sits on the board of directors of AIG Federal Savings Bank. In 1995, he received the Delaware Valley Entrepreneur of the Year Award in the information solutions category. He was honored by New Castle County, Del., for his work as a small business owner in 1994. He has received the U.S. Small Business Administration's 1991 "Business Person of the Year" award for Delaware. He serves on the boards of his local Big Brothers Big Sisters chapter, as well as Junior Achievement. Stellini earned an associate's degree from Delaware Technical and Community College.

The Federal Reserve Bank of Philadelphia serves depository institutions in eastern Pennsylvania, southern New Jersey, and Delaware. The Bank supplies cash to the 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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