Sandra Pianalto was appointed first vice president and chief operating officer of the Federal Reserve Bank of Cleveland, effective Jan. 1.

Ms. Pianalto has been vice president and secretary of the bank's board since 1988. She will succeed William Hendricks, who will retire al yearend.

Ms. Pianalto joined the bank in 1983 as an economist in the research department and was appointed assistant vice president in public affairs and bank relations in 1984.

Before joining the bank, Ms. Pianalto was an economist for the board of governors of the Federal Reserve System and had served on the staff of the House Budget Committee.

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