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Dr. Santomero took office on July 10, 2000, as the ninth chief executive of the Third District Federal Reserve Bank, at Philadelphia. He is serving a full term that began March 1, 2001.
Dr. Santomero received an A.B. in economics from Fordham University in 1968 and a Ph.D. in economics from Brown University in 1971. He also received an honorary doctorate from the Stockholm School of Economics in Sweden in 1992 and an honorary degree from the University of Rome in 2003.
Dr. Santomero was born on September 29, 1946, in New York. Before becoming president of the Philadelphia Fed, Dr. Santomero was the Richard K. Mellon Professor of Finance at the University of Pennsylvania's Wharton School. During his thirty-year tenure at Wharton, he held a number of academic and managerial positions including deputy dean of the school, vice dean of the graduate division, associate director of the doctoral program, and co-chairman of the finance department. He also served as the director of the Wharton Financial Institutions Center, which focuses academic research on the financial services industry. While at Wharton, Dr. Santomero established a reputation as a recognized consultant to major financial institutions and regulatory agencies throughout North America, Europe, and the Far East.
As an academic author, he has written more than 100 articles, books, and monographs on financial sector regulation and economic performance. His two most recent books are Financial Markets, Instruments, and Institutions and Challenges for Modern Central Banking.
In keeping with his commitment to education and research, Dr. Santomero serves on Drexel University's Board of Trustees as well as its LeBow Business School Advisory Board. He is also on the University of Delaware's Visiting Committee for the Crawley School of Business and the Advisory Boards of the Wharton Financial Institutions Center and the Penn Institute for Economic Research. He is chairman of the Economic Advisory Board of the Stockholm Institute for Financial Research and serves on the advisory boards of the Copenhagen Center for Law Economics and Financial Institutions and the Italian Bankers Association's European Banking Report.
Active in the community, Dr. Santomero is on the board of directors of the Greater Philadelphia Chamber of Commerce and serves as chairman of the Mayor's Council of Economic Advisors for the City of Philadelphia. He is also on the board of the Mann Center for the Performing Arts.
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