Margaret McDermid Named Federal Reserve System's Chief Information Officer

Nov 27, 2012, 12:02 ET from Federal Reserve Bank of Richmond

RICHMOND, Va., Nov. 27, 2012 /PRNewswire-USNewswire/ -- The Federal Reserve Bank of Richmond has appointed Margaret E. "Lyn" McDermid as the Federal Reserve System's chief information officer. McDermid, in her new role, will oversee national information technology for the Federal Reserve System. She will assume this position on February 1, 2013, and succeeds Lon Zanetta, who is retiring after more than eight years of outstanding service to the Federal Reserve.


Most recently, McDermid served as senior vice president and chief information officer at Dominion Resources, a Richmond-based Fortune 500 energy company. With more than 20 years of IT experience at Dominion Resources, McDermid has an exceptional leadership record with deep knowledge of the changing information technology landscape.

"Lyn is an outstanding IT leader in a dynamic, highly regulated industry that is focused on service reliability, innovation and security. Her experience is great preparation for leading national IT services for our nation's central bank, where world-class information technology is essential to all aspects of our mission," said Jeff Lacker, president of the Federal Reserve Bank of Richmond. "Having been chair of our Board of Directors, she is very familiar with the Bank, the Federal Reserve System, and the diverse range of Fed operations that depend on IT. Lyn is a great match for this critical role and will get off to an excellent start," Lacker added.

McDermid chairs the board of trustees of Mary Baldwin College, is chair of the board of directors of Richmond's technology council, RichTech, and has served on several state advisory boards. She was named to Computerworld's list of Premier 100 IT Leaders for 2004, received the 2008 Executive Women in Business Achievement Award and was recognized as one of the Richmond YWCA's 2010 Outstanding Women. 

McDermid received her bachelor's degree from Mary Baldwin College and earned her master's degree in business administration from the University of Richmond.

SOURCE Federal Reserve Bank of Richmond