Man on a Mission
Where's Dudley? Now you can play, too.
Federal Reserve Chairman Ben Bernanke's recent town hall forum in Missouri was one sign that the Fed's fortress mentality is loosening up. Here's another: The Federal Reserve Bank of New York this week began releasing a public schedule of meetings and speeches by key officials, including President William Dudley.
The calendar, to be published every Monday on the New York Fed's Web site, "is intended to provide the public with a greater understanding of how Dudley and senior officials carry out the bank's mission," according to an announcement from the New York Fed.
This week's itinerary had Dudley in Frankfurt on Wednesday for a Financial Services Board Steering Committee meeting and back in New York today for a community affairs forum with local activists and economic development groups.
Changing the Guard
Veteran commercial banker John Q. McKinnon has retired from JPMorgan Chase & Co. after 41 years.
McKinnon, 65, stepped down as chairman of the New York company's commercial banking unit in Chicago on June 30, according to Tom Kelly, a JPMorgan Chase spokesman.
McKinnon, who specialized in arranging business loans for midsize companies, resigned as chief executive of the commercial group about a year ago as part of his transition to retirement.
"He is retiring after a terrific career — after helping a lot of businesses grow," Kelly said.
Elsewhere on Wall Street, Merrill Lynch & Co. veteran Dan Sontag announced his retirement Tuesday, becoming the latest executive to depart since the investment bank was bought by Bank of America Corp. in January.
Sontag, who had run Merrill's wealth management unit, made his announcement during a conference call with employees, said a source familiar with the matter. Also on the call was Sallie Krawcheck, a former Citigroup Inc. executive who was in her first day as the head of wealth management and brokerage.
Sontag, 53, had been with Merrill for 31 years.
His Loss Is a Gain
Speaking of changes at B of A, Ed O'Keefe was named its general counsel Thursday, removing the "interim" tag he had held for more than seven months.
O'Keefe, 54, had been filling in since January when the company hurriedly transferred his predecessor, Brian Moynihan, to oversee corporate and investment banking.
B of A never made a big deal of O'Keefe's interim status; he had previously been deputy general counsel. But he has been visible, including his prime seat behind Ken Lewis during the CEO's June testimony before the House Committee on Oversight and Government Reform. O'Keefe is the company's fourth general counsel in the past five years and its third since December.