Esther George, president of the Federal Reserve Bank of Kansas City, has promoted Kelly J. Dubbert, senior vice president of the Bank's Information Technology Division and chief information officer, to first vice president and chief operating officer, effective January 15.

Although in banks first vice presidents rank far below CIOs, in the Federal Reserve bank hierarchy, first vice president is the number-two position, and Dubbert will rank just below George in the organization. Dubbert will assume the president's duties if she is absent for some reason, including participating in meetings of the Federal Open Market Committee.

Dubbert will still have ultimate responsibility for IT, although it is likely that eventually another senior vice president will be appointed at the bank who will receive the CIO title. A Kansas City Fed spokesperson couldn't comment on when that role will be filled. "IT always plays an important role in our operations, and it's growing in importance," says spokesperson Bill Medley.

In addition to overseeing IT, Dubbert will serve as COO of the bank, including financial management.

"Kelly's expertise and leadership on numerous IT initiatives and his wide experience in leading many areas of the Bank will be valuable assets for this important senior management role," George said in the bank's announcement.

Dubbert was named CIO and senior vice president of the IT Division in 2006, where he has been responsible for the bank's central IT functions, including the delivery of local and Federal Reserve System IT services. In addition, he has participated in Federal Reserve System leadership groups, including as co-chair of the Technology Services Council, which represents all Reserve Bank and System CIOs. He has also served on the System's Business Technology Council and the Information Technology Oversight Committee, which has governance oversight for all national IT services.