Beth Hammack, a top executive at Goldman Sachs, will become the next president and chief executive of the Federal Reserve Bank of Cleveland, the bank said on 29 May.

Hammack, 52, studied quantitative economics at Stanford University. She has spent 31 years at Goldman, became a partner in 2010, and was most recently the co-head of global financing. She joined the firm in 1993 as an analyst in capital markets before joining the interest-rate trading desk and moving into management roles.