IBM Chairman elected to New York’s Federal Reserve Bank’s board of directors

The Federal Reserve Bank of New York elected the Chairman and CEO of IBM, Arvind Krishna, to the Board of Directors.

The New York’s Fed said that Krishna was elected as a Class B director to represent the public with due but not exclusive attention to the interests of commerce, agriculture, industry, services, labor, and consumers.

In a statement, the Federal bank of New York said that Krishna will fill the post in the office for the remaining share of a three-year term ending on the last day of 2023.

The statement added that in his current and former roles, Mr. Krishna had led the expansion and building of new markets for IBM in artificial intelligence, blockchain, cloud, and quantum computing. Krishna has also played a significant role in developing innovative solutions and IBM products based on these emerging technologies.

Krishna previously headed IBM’s Research and served as the general manager of IBM Systems and Technology Group’s development and manufacturing organization.

The Federal Reserve Bank of New York functions inside the U.S. Federal Reserve System and other private and public sector institutions to nurture the safety, vitality, and soundness of the U.S. financial and economic systems.