Elizabeth Leake has been named vice president and chief financial officer of the Financial Management Group (FMG) for the Federal Reserve Bank of Minneapolis.
In this role Leake will lead the division and ensure the Bank’s financial management functions adhere to internal controls and meet audit standards.
Leake has been with the Bank since 2013 when she started as a financial analyst. She has been instrumental in ensuring the Bank’s budget targets and financial performance metrics are met and led the Bank’s Financial Planning and Analysis team as assistant vice president before being appointed to interim vice president and CFO of FMG in November 2024. Her numerous accomplishments include implementing System-wide finance and accounting practices, developing controls to ensure compliance, and managing several internal and Board of Governors audits.
Prior to joining the Bank, Leake held various finance roles at Target, Delta Air Lines, and Medtronic. Leake holds a bachelor’s degree in economics from Carleton College and an MBA in finance from the University of Minnesota’s Carlson School of Management.
The CFO role was previously held by Jorge Lomeli, who has assumed the role of vice president for the Administrative Services Division. Leake’s appointment was effective January 16, 2025.
The Federal Reserve Bank of Minneapolis is one of 12 regional Reserve Banks that, with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the nation’s central bank. The Federal Reserve Bank of Minneapolis is responsible for the Ninth Federal Reserve District, which includes Montana, North and South Dakota, Minnesota, northwestern Wisconsin, and the Upper Peninsula of Michigan. The Federal Reserve Bank of Minneapolis participates in setting national monetary policy, supervises numerous banking organizations, and provides a variety of payments services to financial institutions and the U.S. government.