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Richmond Fed appoints COO

The Federal Reserve Bank of Richmond picked Becky Bareford as its first vice president and COO, effective June 1.

Bareford, who has been at the Richmond Fed since 1998, is the bank's senior vice president of administrative services and helps oversee the procurement and payroll operations for the entire Fed system.

She will replace Mark Mullinix, who is retiring next month and had taken over as interim president and CEO before the Richmond Fed's current leader, Thomas Barkin, started in his role this year.

The Fed's Board of Governors signed off on the decision from the Richmond Fed's board of directors.