Cheryl Venable assumed the role of interim President and Chief Executive Officer of the Federal Reserve Bank of Atlanta effective 1 March 2026, following the retirement of Raphael Bostic on 28 February after nearly nine years leading one of the twelve regional Reserve Banks that together comprise the Federal Reserve System. Venable, who serves as the Atlanta Fed's First Vice President and Chief Operating Officer, steps into the interim leadership position while the institution conducts a formal nationwide search for a permanent successor.
Bostic announced his planned retirement in November 2025, providing the institution with several months to prepare for the change in leadership. His tenure at the Atlanta Fed began in June 2017.
INTERIM ARRANGEMENT
The First Vice President position is structurally the second-most senior role at a regional Reserve Bank, and the Atlanta Fed said in November 2025 that she would assume the president's duties on an interim basis if no successor had been appointed by 28 February.
The Atlanta Fed is responsible for the Sixth Federal Reserve District, covering the states of Alabama, Florida, and Georgia, and parts of Louisiana, Mississippi, and Tennessee. In addition to its bank supervision and payments functions, the bank plays a role in FOMC deliberations, where the Atlanta president participates in monetary policy discussions and votes on the policy rate on a rotating basis.
NATIONWIDE SEARCH GETS UNDER WAY
A nationwide search for a permanent successor to Bostic is under way, led by a search committee that, in line with Federal Reserve practice, is composed of non-banking directors from the Atlanta Fed's board. Any candidate selected by the board of directors must ultimately receive approval from the Federal Reserve Board of Governors in Washington.
Bostic was the first African American to lead a Federal Reserve Bank when he was appointed in 2017.
Bank news that matters, every weekday.
Follow The Global Banker on LinkedIn