MR. DENNIS P. LOCKHART

Dennis P. Lockhart took office March 1, 2007, as the 14th president and chief executive officer of the Federal Reserve Bank of Atlanta. In this role, Lockhart is responsible for all the Bank’s activities, including monetary policy, bank supervision and regulation, and payment services. He also chairs the Bank’s Management Committee. In addition, he serves on the Federal Reserve’s chief monetary policy body, the Federal Open Market Committee (FOMC). The Atlanta Fed serves the Sixth Federal Reserve District and has branches in Birmingham, Jacksonville, Miami, Nashville and New Orleans. The district covers the states of Alabama, Florida and Georgia, and parts of Louisiana, Mississippi and Tennessee.

Prior to joining the Atlanta Fed, Lockhart served on the faculty of Georgetown University's Walsh School of Foreign Service, teaching in the master's program. In this role beginning in 2003, he chaired the program's concentrations in International Business–Government Relations and Global Commerce and Finance and taught courses in International Investment, Global Business Strategy and other subjects. He also was an adjunct professor at Johns Hopkins University's Nitze School of Advanced International Studies.

From 2001 to 2003, Lockhart was managing partner at the private equity firm Zephyr Management, L.P., based in New York with activity in Africa and Latin America. Prior to joining Zephyr, Lockhart worked for 13 years at Heller Financial, where he served as executive vice president and director of the parent company and as president of Heller International Group, which, through joint ventures or wholly owned operating companies, had activities in commercial banking, finance, and merchant banking in North and South America, Europe and Asia.

Lockhart held various positions, both domestic and international, with Citicorp/Citibank (now Citigroup) between 1971 and 1988. Early in his career with Citibank he worked in the Middle East, first in Saudi Arabia as head of infrastructure project financing and then in Greece as training director for credit and managerial staff serving the Middle East. Finally, he served in Iran as chief operating officer of a commercial and consumer banking joint venture between Citibank and an Iranian affiliate. From 1978 to 1986, he served in Atlanta as senior corporate officer of the Southeast office of Citibank. And from 1987 to 1988 he was head of the firm's Latin American debt-to-equity swap investment program, designed to restructure sovereign debt.

In addition to his professional activities, he was a member of the advisory committee of the Emerging Markets Private Equity Association, a broad-based membership organization founded in 2004 to focus on the emerging private equity markets of Africa, Asia, Europe, Latin America, the Middle East and Russia. He also served on the advisory council of the Export-Import Bank.

In addition, he was a member of the board of directors of several companies, including CapitalSource Inc., a REIT/finance company; Tri-Valley Corp., an independent oil, gas and mining exploration firm; and Greenfield Holdings Credit Ltd., a joint venture agribusiness finance subsidiary of DuPont Corp. and Bunge Corp. in Brazil. Finally, Lockhart was chairman of the Small Enterprise Assistance Funds, a not-for-profit operator of emerging markets venture capital funds focused on the small and mid-sized company sector.

Lockhart was born on Feb. 1, 1947, in Bakersfield, Calif. He earned a B.A. in political science and economics from Stanford University in 1968 and an M.A. in international economics and American foreign policy from the Johns Hopkins University School of Advanced International Studies in 1971. He served as a lieutenant in the U.S. Marine Corps Reserve from 1968 to 1974.