Beth M. Hammack
Elizabeth Morgan Hammack | |
|---|---|
| Born | 1971/1972 California, U.S. |
| Occupation(s) | President and CEO of the Federal Reserve Bank of Cleveland |
| Years active | 1993–present |
| Known for | 12th president and CEO of the Federal Reserve Bank of Cleveland; former co-head of global finance at Goldman Sachs |
Elizabeth Morgan Hammack (born 1971/1972) serves as the 12th president and chief executive officer of the Federal Reserve Bank of Cleveland. Before assuming this position, Hammack dedicated thirty years to Goldman Sachs, departing in 2024 where she held the role of co-head of global finance.
Early life
Born in California to venture capitalist Howard L. Morgan and a mother who worked as an interior designer, Hammack was raised in Villanova, Pennsylvania as the middle child among three sisters. She completed her secondary education at The Baldwin School in Bryn Mawr, Pennsylvania in 1989.
Hammack obtained her undergraduate degree from Stanford University in 1993, focusing on quantitative economics and history. While at Stanford, she participated in a student presidents council alongside John Overdeck, co-founder of Two Sigma Investments. She completed two internships at the Philadelphia Stock Exchange and was admitted to Harvard Business School, though she ultimately decided not to enroll.
Goldman Sachs
Beginning her career at Goldman Sachs in 1993 as a Debt Capital Markets analyst, Hammack advanced to managing director by 2003 and attained partnership status in 2010. Throughout her career there, she occupied significant positions such as global treasurer, global head of short-term macro trading, and global head of repo trading. Additionally, Hammack chaired the Treasury Borrowing Advisory Committee and contributed to the Treasury Market Practices Group, Financial Research Advisory Committee, and the firm's management committee. Prior to her departure, she was co-leading the Global Financing Group.
Federal Reserve Bank of Cleveland
Hammack was named president and CEO of the Cleveland Fed on May 29, 2024. Her leadership commenced on August 21, representing the Fourth Federal Reserve District on the Federal Open Market Committee, where she participates in shaping monetary policy for the United States. She is notably the fourth female president in the history of the Cleveland Fed, which was the first regional Federal Reserve bank to appoint a woman president back in 1982.
Personal life
In 2000, Hammack wed investment banker Peter Hammack. The couple has two sons and currently resides in Cleveland.
Her commitment to community and education is reflected through her board memberships with Math for America and City Harvest.