Indian-origin Naureen Hassan becomes first vice president, COO of Federal Reserve Bank of New York
New York, Mar 5: An Indian-origin veteran of the financial services industry has been appointed as the first vice president and chief operating officer of the Federal Reserve Bank of New York.
Naureen Hassan has been appointed by the board of directors of the Federal Reserve Bank of New York as the first vice president and chief operating officer, effective from March 15. The appointment was approved by the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York said in a statement.
As the first vice president, Hassan will be the New York Fed's second ranking officer as well as an alternate voting member of the Federal Open Market Committee.
Hassan, whose parents had immigrated from India, is a 25-year veteran of the financial services industry with expertise in strategy, digital transformation, cybersecurity and regulatory/risk management.
She was, most recently, the Chief Digital Officer for Morgan Stanley Wealth Management (MSWM).
President and Chief Executive Officer of the New York Fed John Williams said Hassan's leadership background, deep commitment to fostering diverse teams, and extensive technology and financial experience will be critical to her role as a Bank leader.
Denise Scott, executive vice president of the Local Initiatives Support Corporation (LISC) and chair of the New York Fed's board of directors, said Hassan's leadership experience and operational expertise are "fully aligned with what the search committee and he envisioned for this role.
Scott said Hassan will be taking on the role that is critical to advancing the Bank's mission and strategic priorities.
The statement added that Hassan has served in various capacities in the financial services industry, focusing primarily on digital and business process transformation.
Prior to working at Morgan Stanley, she was at Charles Schwab Corporation beginning as a vice president of corporate strategy and ending her tenure as executive vice president of investor services, segments and platforms.
According to her profile provided by the Bank, Hassan was formerly a member of the Board of Directors at OneSpan, a USD 250MM revenue public security software and hardware firm, and Ascensus, the largest independent record keeping services provider, third-party administrator, and government savings facilitator in the United States.
Hassan also serves on the board of the California Academy of Sciences and the Cathedral School for Boys in San Francisco. She was previously on the board of the Charles Schwab Bank and the Women's Initiative for Self-Employment.
She holds a BA from Princeton University and a Masters of Business Administration from the Stanford University Graduate School of Business.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
South African police arrest suspect in mass shooting that killed 12, including 3 children
Johannesburg (AP): A 32-year-old suspect has been arrested in connection with a mass shooting which claimed the lives of 12 people including three children at an unlicensed pub earlier this month, South African police said on Monday.
The man is suspected of being one of the three people who opened fire on patrons in a pub at Saulsville township, west of South Africa's capital Pretoria, killing 12 people including three children aged 3, 12 and 16.
At least 13 people were also injured during the attack, whose motive remains unknown.
According to the police, the suspect was arrested on Sunday while traveling to Botlokwa in Limpopo province, more than 340 km from where the mass shooting took place on Dec 6.
An unlicensed firearm believed to have been used during the attack was recovered from the suspect's vehicle.
“The 32-year-old suspect was intercepted by Limpopo Tracking Team on the R101 Road in Westenburg precinct. During the arrest, the team recovered an unlicensed firearm, a hand gun, believed to have been used in the commission of the multiple murders. The firearm will be taken to the Forensic Science Laboratory for ballistic analysis,” police said in statement.
The suspect was arrested on the same day that another mass shooting at a pub took place in the Bekkersdal township, west of Johannesburg, in which nine people were killed and 10 wounded when unknown gunmen opened fire on patrons.
Police have since launched a search for the suspects.
South Africa has one of the highest homicide rates in the world and recorded more than 26,000 homicides in 2024 — an average of more than 70 a day. Firearms are by far the leading cause of death in homicides.
The country of 62 million people has relatively strict gun ownership laws, but many killings are committed with illegal guns, according to authorities.
According to police, mass shootings at unlicensed bars are becoming a serious problem. Police shut down more than 11,000 illegal taverns between April and September this year and arrested more than 18,000 people for involvement in illegal liquor sales.
