FSR Board of Directors
Ajay Banga is president and chief executive officer of Mastercard and a member of its board of directors.
Mr. Banga is a member of the U.S. President’s Advisory Committee for Trade Policy and Negotiations and sits on the board of directors of the U.S.-India Business Council (USIBC), where he served as its longest-tenured chairman. Mr. Banga is a member of the U.S.-India CEO Forum and co-chairs the board of directors of the American India Foundation. He served as a member of President Obama’s Commission on Enhancing National Cybersecurity.
Mr. Banga serves on the Executive Committee of the Business Roundtable and the Financial Services Roundtable, as well as vice chairman of the Business Council.
Brian Moynihan leads a team of more than 200,000 employees dedicated to making financial lives better for people, companies of every size, and institutional investors across the United States and around the world.
Bank of America is recognized as a top employer by organizations including Working Mother magazine, the Human Rights Campaign, and G.I. Jobs magazine. The company also received the Department of Defense Freedom Award for support of employees serving in the National Guard and Reserve.
Moynihan participates in several organizations that focus on economic and market trends, including the World Economic Forum International Business Council, The Clearing House, the Financial Services Forum and the Financial Services Roundtable (chair of both), the Business Roundtable, and the Bipartisan Policy Center CEO Council on Health and Innovation. He is also a member of the Federal Advisory Council of the Federal Reserve Bank.
Moynihan leads the company’s Global Diversity and Inclusion Council and is a member of the Museum Council for the Smithsonian’s National Museum of African American History and Culture. Moynihan is also a member of the Brown University Corporation’s Board of Fellows and the Congressional Medal of Honor Foundation Board.
Christopher Begy is U.S. Country Head and Chief Executive Officer, BMO Financial Corporation. His appointment was effective on August 1, 2013.
Mr. Begy joined Bank of Montreal in 1987 from a “Big Four” accounting firm where he was a director in the financial services practice. His first executive appointment was Vice President, Taxation in 1989. He was subsequently appointed Chief Accountant, then Senior Vice President and Corporate Controller. He was appointed Chief Auditor in 2001.
Mr. Begy, a Chartered Accountant by profession, has long been engaged in standard-setting for accounting and auditing. He has chaired the Canadian Institute of Chartered Accountants’ Accounting Standards Board and served as a member of working teams on accounting standards with the Financial Accounting Standards Board. He has also been a member of the International Accounting Standards Board Advisory Committee on Financial Institution Reporting and the CICA’s Auditing and Assurance Standards Board and Canadian Performance Reporting Board.
Dave McKay was appointed President of RBC on February 26, 2014 and Chief Executive Officer and Director of the Board on August 1, 2014.
In his previous role as Group Head, Personal & Commercial Banking, which he held from November 2012 to February 2014, Mr. McKay was responsible for RBC’s banking businesses in Canada, the United States, and the Caribbean, including personal and commercial financial services, credit cards and payments, as well as RBC’s sales and branch distribution, operations and advice centers.
Prior to this, he served as Group Head of Canadian Banking, Executive Vice President of Personal Financial Services, and Senior Vice President of Financing Products, respectively. Mr. McKay started his career at RBC in 1988, and has held progressively senior roles in Canada and Japan in retail and business banking, group risk management, and corporate banking.
Frederick H. Waddell is Chairman and Chief Executive Officer of Northern Trust, one of the world’s leading asset management, asset servicing, fund administration, fiduciary and banking services firms. Serving successful individuals, families and institutions worldwide, the Chicago-based, 122-year-old financial institution had $4.2 trillion in assets under custody and $644.2 billion in assets under management as of September 30, 2011.
Since joining Northern Trust in 1975, Waddell has held leadership positions in Commercial Banking, Strategic Planning and Personal Financial Services. In March 2003, he became head of the Corporate & Institutional Services business unit and, in February 2006, was named President and Chief Operating Officer of Northern Trust. Mr. Waddell was appointed Chief Executive Officer on January 1, 2008, and named Chairman in November 2009.
Waddell is a member of the Board of Directors of the Federal Reserve Bank of Chicago, The Chicago Council on Global Affairs, The Economic Club of Chicago, the Financial Services Roundtable, The Chicago Club, Chicago Urban League and the United Way of Metropolitan Chicago.
Waddell received a bachelor’s degree in government from Dartmouth College and a master’s degree in business administration from the J.L. Kellogg School of Management of Northwestern University.
John P. (Jack) Barnes is President and Chief Executive Officer of People’s United Bank. Barnes joined People’s United Financial as Senior Executive Vice President and Chief Administrative Officer following the acquisition of Chittenden Corporation in early 2008. In this position, he managed Information Technology, Operations, Real Estate Services and Business Services.
Barnes joined Chittenden Bank in 1983 as manager of Loan Review after five years with the FDIC – Boston. He became senior vice president and chief credit policy officer in 1988. In 1990 he was appointed division head of the Credit Policy and Administration division, which grew to include various support services areas. In 2002, Mr. Barnes was appointed executive vice president in charge of the newly formed Chittenden Services Group, which included IT, Operations and other centralized services for the corporation.
He is a graduate of Northeastern University and received his MBA from the University of Vermont.
Kelly S. King has served as chairman of BB&T since January 2010. He has been president and chief executive officer of BB&T Corporation and chairman and chief executive officer of Branch Banking & Trust Company since January 2009. He also served as chief operating officer of BB&T Corporation and Branch Banking and Trust Company from June 2004 to December 2008 and president of BB&T Corporation from 1996 to June 2004.
King has forged a lifetime of leadership experience with BB&T, devoting 30 of his 43 years of service to BB&T as a member of Executive Management. He has assumed leadership roles in commercial and retail banking, operations, insurance, corporate financial services, investment services and capital markets.
King is credited with leading BB&T to continued profitability and financial stability through the economic downturn beginning in 2008. Under his leadership, BB&T was one of the first institutions to repay TARP funds. His unwavering commitment to the company’s vision, mission and values has led to a nationally recognized employee volunteer program, called The Lighthouse Project. Since it began in 2009, BB&T associates have donated more than 385,000 volunteer hours to carry out more than 7,700 community service projects, which have touched the lives of more than 11 million people.
Stelling began his career with Synovus in March 2006 when the company purchased Riverside Bancshares, Inc., and merged it with Bank of North Georgia, headquartered in Alpharetta, Georgia. In June 2008, he was promoted to Synovus Regional CEO for the Atlanta market. Stelling was named Synovus President and Chief Operating Officer in February 2010 and was named President and Chief Executive Officer in October 2010. He became Chairman of the Board in January 2012.
As Chairman and CEO of Synovus, a $30 billion asset bank, Stelling leads a talented team of bankers, investment professionals, and support teams in developing strategies designed to drive growth. Stelling guides a team consisting of commercial, retail, corporate, and financial management services professionals in building long-term relationships while also ensuring the company remains focused on fostering a great working environment, effectively managing risk, reducing expenses, and increasing shareholder value.
As President and Chief Executive Officer of Synchrony Financial, Margaret Keane brings with her a passion for emerging technology and employee development, both of which have solidified her reputation as a leader in the field.
Margaret led the Retail Card platform at GE Capital as President and CEO beginning in 2004, later expanding her responsibilities to become President and CEO of the GE Capital Retail Finance business in 2011. In her 18 years at GE Capital, she held additional leadership roles spanning consumer finance, vendor financial services, operations and quality. She began her career at Citibank, where she provided leadership in Sales, Marketing and Operations over the course of 16 years.
As a leader, Margaret is also known for championing her employees, having initiated several development programs at GE Capital and serving on the cabinet of the GE Women’s Network. She expanded the business focus on ecommerce and mobile capabilities, developing new tools for business clients and consumers alike.
Scott Powell is the Chief Executive Officer of Santander US and Santander Bank. He is responsible for overall U.S. strategy and management, overseeing Santander’s U.S. and Puerto Rico business units, as well as strategy and performance of Santander Bank.
Scott joined Santander in March of 2015 after more than two decades working in retail banking, risk management and consumer and auto lending.
Prior to joining Santander, he held a variety of senior positions at J.P. Morgan Chase & Co., including Head of Banking and Consumer Lending Operations, CEO of Consumer Banking and Retail Investments, Head of Consumer Lending, as well as Chief Risk Officer, Consumer. He also spent 14 years at Citi in a variety of risk management roles. Most recently, Scott was Executive Chairman of National Flood Services Inc.
William H. Rogers, Jr. (Bill) is chairman and chief executive officer of SunTrust Banks, Inc., one of the nation’s largest financial services companies serving 4.6 million households and business clients.
SunTrust operates an extensive branch and ATM network throughout the Southeast and Mid-Atlantic states, along with a full array of 24-hour digital channels. Its primary businesses include deposit, credit, trust and investment services. The company serves clients nationally in selected businesses, including corporate and investment banking, mortgage, private wealth management and consumer lending. Through its various subsidiaries, the company also offers asset management, securities brokerage and capital market services. As a purpose-driven company dedicated to Lighting the Way to Financial Well-Being, SunTrust is leading a movement to inspire Americans to gain financial confidence, offering tools and resources through onUp.com.
Since taking the CEO post, Rogers has led a significant transformation of the company, building upon its client-first culture and increasing focus on operating returns and efficiency. Under his leadership, SunTrust has improved its adjusted tangible efficiency ratio from 72 percent to below 63 percent, and more than doubled the return on average tangible common equity.