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Philadelphia Fed Names Prichard First Vice President

For immediate release
Contact: Katherine Dibling, E-mail senior media representative, (215) 574-4119

Philadelphia, Pa. - The Federal Reserve Bank of Philadelphia today announced the appointment of D. Blake Prichard to first vice president and chief operating officer, effective January 1, 2011. Prichard is currently the executive vice president responsible for Information Technology Services, Customer Relations, and Treasury and Payment Services. He also oversees the Federal Reserve System's Groupware Leadership Center, which provides national e-mail and related services. He will succeed William H. Stone, Jr., who announced his plans to retire earlier this year after serving as the Bank's first vice president for 23 of his 40 years of service.

D. Blake PrichardD. Blake Prichard
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"Blake is a talented executive with deep knowledge of the Federal Reserve System and a commitment to its principles," said Charles I. Plosser, president and chief executive officer of the Federal Reserve Bank of Philadelphia. "Blake's leadership and guidance over the years have helped manage some of the most complex projects undertaken by the Philadelphia Fed and the System. He was instrumental in the development of check fraud detection technologies for Treasury Services and helped lead the Federal Reserve's study that led to the consolidation of check processing nationwide," Plosser said.

Prichard joined the Philadelphia Fed in 1992 as senior vice president of Retail Payments after working 20 years at the Federal Reserve Bank of Boston. During his tenure at the Boston Fed, he managed check-clearing services for three regional offices and held several officer and managerial positions.

He left the Philadelphia Fed in January 2003 to be vice president of global outsourcing for Unisys Corporation, an information technology services company in Blue Bell, Pa. He returned to the Philadelphia Fed in July 2004 as senior vice president to lead the check processing function, including the Treasury Check Information System and customer relations. He was promoted to executive vice president in January 2005 with added responsibilities for the Bank's Information Technology Services Department and the national e-mail services.

Prichard is a member of the board of directors of the Boy Scouts of America, Chester County Council, and served on the Capital Fundraising Committee for the Lionville Community YMCA.

He holds a bachelor's degree from Northeastern University in Boston, and attended the MIT Sloan School's senior executive program.

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. It is one of the 12 regional Reserve 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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