Susan M. Collins Set To Break Barriers As The First Black Woman To Lead A Federal Bank
Photo Credit: University of Michigan

Susan M. Collins Set To Break Barriers As The First Black Woman To Lead A Federal Bank

Black women and excellence will forever be synonymous — just look at Dr. Susan M. Collins!

According to a press release, The Harvard University alumna recently secured a new position as president and CEO of The Federal Reserve Bank of Boston. In the process, Susan M. Collins broke barriers becoming the first Black woman to lead a Federal Reserve Bank, The Boston Globe reports.

“It is an honor and an inspiration to serve as the Boston Fed’s next president,” Susan M. Collins said, according to a press release. “Throughout my career, I have been driven by a commitment to leveraging research, education, and public service to improve lives. I look forward to helping the Bank and System pursue the Fed’s dual mandate from Congress – achieving price stability and maximum employment.”

She continued: “I am also inspired by the portfolio of important and innovative work underway at the Boston Fed I am delighted with the opportunity to lead such a dynamic organization, engage with its talented staff, and work with its constituents – to understand their economic challenges and help explain the work of the Fed in the economy. It will also be a pleasure to return to Greater Boston and New England.”

Collins' New Role

Collins is currently working at the University of Michigan as the provost and executive vice president for academic affairs. The international macroeconomist is also a Professor of Public Policy and Professor of Economics at Edward M. Gramlich Collegiate. During her career, Collins has worked as a dean, professor, research scholar, and board member of various organizations.

She also serves as a member of the board (and executive committee) of the National Bureau of Economic Research, Peterson Institute for International Economics, and a nonresident senior fellow at the Brookings Institution.

Collins will say goodbye to the three positions when she enters her new role as president and CEO on July 1.

“We are very pleased that Dr. Collins will be leading our organization,” said Kenneth Montgomery, interim president and CEO of the Boston Federal Bank and the Bank’s first vice president, according to a press release. “She is a leader with exceptional background and perspective. She also has a deep understanding of the Federal Reserve System’s inner workings, having served for nine years as a director at the Chicago Reserve Bank. I am excited to work with Susan here in Boston, and I know she will help us build on our Bank’s distinctive contributions.”