MNI: St. Louis Fed Picks Alberto Musalem As New President

The Federal Reserve Bank of St. Louis on Thursday named Evince Asset Management CEO Alberto Musalem to be its next president effective April 2, making him the first Latino to lead the regional Fed bank. He will be a voting member of the FOMC in 2025.

Musalem, 55, is also a former top official at the New York Fed. He served as senior adviser to the president from 2014 to 2017, leading the Integrated Policy Analysis Group and the Emerging Markets and International Affairs Group and representing the Fed bank on the Committee on the Global Financial System of the Bank of International Settlements. In 2018 he founded Evince Asset Management LP, a quantitative investment technology company.

Prior to the Fed he was managing director at Tudor Investment Corporation from 2000 to 2013. He also had a stint at the IMF researching monetary policy and fiscal policy and banking systems during the emerging market crises of the late 1990s, according to a bio released by the St. Louis Fed. Before taking office, he plans to step down from the boards of Freddie Mac and Man Group.

Musalem was born in Bogota, Colombia, and lived in Brazil and Argentina before emigrating to the U.S. and graduating from the public school system in Maryland, the St. Louis Fed said. He succeeds Jim Bullard, who resigned July 2023 after 15 years as president to become dean of the business school at Purdue University. (See: MNI INTERVIEW: Bullard Says March Is Too Early For Fed To Cut)