Indian-Origin Sushmita Shukla Appointed As VP At FRB

Sushmita Shukla, an Indian-origin veteran of the Insurance Industry, has been appointed as the Vice President and Chief Operating Officer of the Federal Reserve Bank, New York. The appointment was approved by the Board of Governors of the Federal Reserve System, according to the news report. 

Shukla is the first VP and COO of the Federal Reserve Bank, effective from March 2023. In her statement after the announcement, she said ━ “I look forward to applying all that I’ve learned in my career – including my technology, operations, and risk-focused experiences to furthering the key activities and supporting the dedicated leadership of this critical institution.”

President and Chief Executive Officer of the New York Fed John Williams described Shukla as a dynamic, inspiring, and productive leader who brings extensive experience and knowledge in large-scale enterprises and transforming initiatives to the bank. 

In a statement, he said ━ “she has an in-depth knowledge of technology and agile innovation methods and is passionate about creating a truly diverse and inclusive culture.”

Additionally, in her role as VP and COO, she will establish, explain and execute the strategies that will bring positive outcomes to the bank. She will direct the organisation and serve as an alternative voting member of the Federal Open Market Committee. 

Also Read: Ashok Leyland Appointed Shenu Agarwal As MD & CEO

Other Details About Sushmita Shukla

  • She has 20 years of experience in the Insurance industry. 
  • Earlier, she was a senior VP and COO at International Accident & Health Chubb, the world’s largest publicly traded property and casualty insurance company. 
  • In 2016, Shukla led transformation programs at Healthfirst as Vice President of Enterprise Business Solutions. 
  • Next year, she served as Senior Vice President of Enterprise Transportation. 
  • She has also held positions at Liberty Mutual, Merrill Lynch, and GaintBear Inc., a wireless technology and application service provider in New York. 

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