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Federal Reserve Office of Employee Benefits Names William G. Clark as SVP and Chief Investment Officer

For immediate release
Contact: Peter Birle, E-mail OEB, (973) 848-3641

NEWARK, N.J. — William G. Clark has been named senior vice president and chief investment officer at the Federal Reserve System's Office of Employee Benefits, effective March 1, 2010.

Clark will work with the System's Committee on Investment Performance, headed by Charles I. Plosser, president, Federal Reserve Bank of Philadelphia, to formulate investment strategy and oversee management of the assets for the System's Retirement Plan and Thrift Plan, currently approximately $11 billion.

The Office of Employee Benefits, based in Newark, New Jersey, manages employee benefit programs including retirement, savings and insurance benefits for employee and retirees of the 12 regional Federal Reserve Banks and the Board of Governors.

Clark has most recently served as director, Division of Investment, State of New Jersey, since 2005, and as deputy director from 1999 to 2005. Previously he held investment and financial positions of increasing responsibility at Crum & Forster, Touche Ross, and Mutual Benefit Life.

He holds a bachelor of science degree from Villanova University and an M.B.A. from Rutgers University. He is also a certified public accountant.

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