Sushmita Shukla, an Indian-origin veteran of the insurance industry, has been appointed as First Vice President and Chief Operating Officer at the Federal Reserve Bank of New York, making her the second-ranking officer at the prominent institution.

• The appointment was approved by the Board of Governors of the Federal Reserve System, the New York Fed said in a statement.
• Shukla, 54, has been appointed by the Board of Directors of the Federal Reserve Bank of New York as First Vice President and Chief Operating Officer, effective March 2023.
• As First Vice President, Shukla, who has an MBA from New York University and a bachelor’s degree in electrical engineering from the University of Mumbai, will be the New York Fed’s second-ranking officer.