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Former FBI Agent to Lead Bank’s Protection Department

For immediate release
Contact: Marilyn Wimp, media advisor, (215) 574-4197

Philadephia, Pa. – The Federal Reserve Bank of Philadelphia today announced the appointment of former Federal Bureau of Investigation Agent James K. Welch, to assistant vice president of the Bank’s Protection Department.

Welch joins the Bank following a 24-year career with the FBI. He has been in a managerial position for the past nine years, most recently as a supervisory special agent and supervisor of the public corruption squad in the Philadelphia office. He also served as coordinating supervisor in the white collar crime unit.

Prior to his FBI career, Welch was employed for several years as a staff accountant with auditing responsibilities at the former A.M. Pullen Co., now McGladrey & Pullen, in New York. He has a bachelor’s degree in accounting from Iona College in New York, from which he graduated magna cum laude. Welch received the U.S.Attorney’s Award in 2004 for his work in relation to the Philadelphia City Hall corruption case.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank holding companies, and provides financial services to depository institutions and the federal government. One of the 12 regional banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.

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