The Federal Reserve Board named the chairs and deputy chairs of the 12 Federal Reserve Banks for 2020.

Rutgers University Chancellor Phoebe Haddon was named chair of the Federal Reserve Bank of Philadelphia. Madeline Bell, president and CEO of The Children's Hospital of Philadelphia, was named deputy chair.

At the Federal Reserve Bank of Richmond, Charlotte, N.C.-based Atrium Health President and CEO Eugene Woods was named deputy chair.

Illinois Tool Works Inc. Chairman and CEO E. Scott Santi was named chair of the Federal Reserve Bank of Chicago. Henry Ford Health System President and CEO Wright Lassiter III was named deputy chair.

Suzanne Sitherwood, president and CEO of St. Louis-based Spire Inc., was named chair of the Federal Reserve Bank, while Invisibly Inc. founder and CEO James McKelvey Jr. was named deputy chair.

Srilata Zaheer was named chair of the Federal Reserve Bank of Minneapolis. Zaheer is the dean of the University of Minnesota's Carlson School of Management.

For the Federal Reserve Bank of Kansas City, Farrell Growth Group LLC President Jim Farrell was named chair, while Premier Manufacturing and Supply Chain Services Inc. President Edmond Johnson was named deputy chair.

Thomas Falk, retired chairman and CEO of Kimberly-Clark Corp., was named deputy chair of the Federal Reserve Bank of Dallas.

The Fed retained the following regional bank chairs and deputy chairs: Phillip Clay and Christina Hull Paxson at the Federal Reserve Bank of Boston; Denise Scott and Rosa Gil at the Federal Reserve Bank of New York; Dawne Hickton and Dwight Smith at the Federal Reserve Bank of Cleveland; Myron Gray and Elizabeth Smith at the Federal Reserve Bank of Atlanta; and Barry Meyer and Rosemary Turner at the Federal Reserve Bank of San Francisco.

Kathy Warden and Greg Armstrong were retained as chairs of the Richmond Fed and Dallas Fed, respectively. Harry Melander was retained as deputy chair of the Minneapolis Fed.