NEW YORK -- The Federal Reserve Bank of New York has named Thomas G. Labrecque of Chase Manhattan Bank a class A director, representing member banks with capital and surplus of more than $400 million.
Mr. Labrecque, chairman and chief executive officer of New York-based Chase and its holding company, Chase Manhattan Corp., will serve a three-year term expiring Dec. 31, 1994. He was unopposed in the voting by banks in the second Federal Reserve district.
He takes the Class A seat held since February 1988 by John F. McGillicuddy, chairman and chief executive officer of Manufacturers Hanover Corp., New York.
The New York Fed's other Class A directors are Victor J. Riley, chairman of KeyCorp of Albany, N.Y., and J. Kirby Fowler, president and chief executive officer, Flemington (N.J.) National Bank and Trust Co.
Career at Chase
Mr. Labrecque, 53, has been chairman of the nation's fourth-largest banking company since October 1990. He was president from 1981 to 1990.
He joined Chase in 1964, became a vice president in 1969, senior vice president in 1971, executive vice president in 1974, and vice chairman responsible for commercial banking, retail banking, operations, and corporate systems in 1980.
In other actions, the New York Fed named Ellen V. Futter chairman of its board. Ms. Futter, president of Barnard College, is a Class C director, representing organizations outside the banking field. Her terms as a director expires at yearend 1993.
The previous chairman was Cyrus R. Vance, presiding partner of the New York law firm of Simpson Thatcher & Bartlett. He was the Fed bank's chairman for three years and continues on the board through December 1992.
Maurice Greenberg was elected vice chairman. Mr. Greenberg, chairman and chief executive officer of American International Group Inc., was appointed to a second three-year term as Class C director.
The Federal Reserve Bank of Kansas City also appointed a new chairman: Burton A. Dole Jr., chairman and president of Puritan-Bennett Corp. of Overland Park, Kan.
A Fed director and deputy chairman since 1989, Mr Dole succeeds Fred W. Lyons Jr., president of Marion Merrell Dow Inc., Kansas City, Mo.
The new deputy chairman is Herman Cain, president and chief executive officer of Godfather's Pizza, Omaha, Neb.