By Michael S Derby
(Reuters) – The Bank of New York Mellon Corp announced on Monday that a senior New York Federal Reserve official responsible for domestic markets will join the company next month in a position focusing on financial markets.
Nathaniel Wuerffel, who most recently served as New York Fed’s senior vice president and was the New York Fed’s head of domestic markets, will join the bank as head of market structure. He will also assume the responsibilities of Chief of Staff for the Company’s Treasury Securities Division. It starts on June 12th.
The Treasury Department of the Bank of New York Mellon provides clearing for Treasury trading, as well as various services for the vast market where traders lend and lend bonds to one another.
According to his LinkedIn bio, Wuerffel joined the New York Fed in June 2008 and held various market-related roles. His biography states that since June 2018 he has served as the head of the domestic markets group. Before joining the New York Fed, Wuerffel worked at the Chicago Fed, starting in 1998.
Würffel’s departure comes amid changes in top management at the New York Fed. Last summer, manager of the Fed’s vast securities and cash holdings and a key voice in monetary policy implementation, Lori Logan left the bank to take over the Dallas Fed. She was officially replaced by Roberto Perli in March.
A New York Fed spokesman confirmed Wuerffel’s exit, saying he is “on hold” pending his exit from the bank, which exempts him from sensitive work under the bank’s ethics policy.
(Reporting by Michael S. Derby; Editing by Chizu Nomiyama)
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