Cathy E. Minehan was elected by the Board effective November 19, 2007. She retired as President and Chief Executive Officer of the Federal Reserve Bank of Boston in July 2007, a position she held since 1994. She also served on the Federal Open Market Committee from 1994 until her retirement. Ms. Minehan also is a director of Visa Inc., and is a trustee of the Massachusetts General Hospital and the University of Rochester.