Federal Reserve Bank of St. Louis Announces New First Vice President and Chief Operating Officer

ST. LOUIS – The Federal Reserve Bank of St. Louis has announced the appointment of Kathleen Paese as first vice president, chief operating officer and U.S. Treasury product director. Her appointment is effective Jan. 1, 2021.

The appointment by the St. Louis Fed Board of Directors of Paese to her new role was formalized after receiving the approval of the Federal Reserve Board of Governors.

Paese will succeed David Sapenaro, who will retire at the end of 2020. Sapenaro served the Fed for 35 years, spending his first 10 years at the Kansas City Fed before his 25 years in St. Louis. He has spent the past 15 years as the Bank’s first vice president.  His numerous career contributions include building and growing the Bank’s strong partnership with the U.S. Treasury, as well as leading the Federal Reserve System’s evaluation of future roles in providing faster payments.   

In her new role, Paese will be responsible for strategic, operational and financial performance of the St. Louis Fed, including its branches in Little Rock, Louisville and Memphis. She will also be the Federal Reserve System’s U.S. Treasury product director with responsibility for managing the Federal Reserve’s overall relationship with the U.S. Treasury for fiscal agent services.

Paese’s career with the St. Louis Fed spans more than 30 years. She is currently the executive vice president of the Treasury Division, as well as a member of the Bank’s Management Committee.  She provides oversight and direction to the Treasury Relations and Support Office and 14 operational/technical services that the Fed’s Eighth District provides to the U.S. Treasury.  In addition, she has led several Federal Reserve System initiatives related to both financial services and information technology.

Paese received her bachelor’s degree in communications from the University of Illinois, Urbana-Champaign, and is a graduate of the Kellogg School of Management’s Executive Leadership Program at Northwestern University. “Kathy is an exceptional leader who has had a remarkable career at the St. Louis Fed,” said Jim Bullard, the St. Louis Fed’s president and CEO. "Her deep knowledge and rich experience will be a huge benefit not only to the Bank, but to the entire Federal Reserve System."