CLEMSON, SC – January 7, 2009 – Claude Lilly, dean of the College of Business and Behavioral Science at Clemson University, has been re-elected chairman of the Federal Reserve Bank of Richmond’s Charlotte branch.
Lilly has served as director since 2007. He was named dean of Clemson’s business college in 2007 after serving as dean of the Belk College of Business at the University of North Carolina-Charlotte.
Lilly has expertise in risk management, insurance company operations, reinsurance and self-insurance. He has edited several journals, including the Risk Management and Insurance Review, the CPCU Journal, the Journal of Insurance Regulation and the Journal of Reinsurance. Lilly earned his Ph.D. at Georgia State University, where he majored in risk management and insurance and minored in international finance.
The boards of directors of the Baltimore and Charlotte branches of the Federal Reserve Bank of Richmond have seven members each. A majority of each branch’s directors are appointed by the board of directors of the Richmond Reserve Bank and the remainder by the Board of Governors of the Federal Reserve System. The chairmen of the boards of the Baltimore and Charlotte branches are selected for one-year terms from among those directors appointed by the Board of Governors.
The Federal Reserve Bank of Richmond is one of 12 District Reserve Banks that together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Richmond bank serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia.