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Sushmita Shukla appointed as VP & COO, Federal Reserve Bank

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The Federal Reserve Bank of New York has appointed Indian-origin Sushmita Shukla as its First Vice President, and Chief Operating Officer (COO), making the insurance industry veteran its highest-ranked official after President and CEO, John C Williams. The appointment was approved by the Board of Governors of the Federal Reserve System.

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Here’s what we know about her:

  • She has served in leadership roles in the insurance industry. In a career spanning more than twenty years, she has primarily led operations, technology, and enterprise-wide transformation efforts.
  • Since January 2018, she has been working with Chubb, which is based in New York, and is the world’s largest publicly traded property and casualty insurance company. She is its Senior Vice President, and Chief Operations Officer (International Accident and Health).
  • Her previous employers include GiantBear Inc (April 2000-December 2000), Merrill Lynch (January 2001-May 2003), Liberty Mutual (June 2003-May 2006), The Hartford (July 2006-October 2016), and Healthfirst (November 2016-November 2017).
  • She is armed with an MBA in Finance and Management from the New York University (January 2002-April 2005), as well as a bachelor’s degree in Electrical and Electronics Engineering from the University of Mumbai.

Important takeaways for all competitive exams: 

  • Federal Reserve Bank of New York President: John C. Williams;
  • Federal Reserve Bank of New York Founded: 1914, 
  • Federal Reserve Bank of New York HQ: New York, New York, United States.

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