Anthony M. Santomero served as president of the Federal Reserve Bank of Philadelphia for six years. He retired March 30, 2006.
Santomero holds a bachelor's in economics from Fordham College and a doctorate in economics from Brown University. He also received an honorary doctorate from the Stockholm School of Economics and an honorary degree from the University of Rome.
Prior to joining the Philadelphia Fed, Santomero had a lengthy career in academia, including teaching at the Baruch College of the City University of New York, as well as visiting appointments at several schools, including Ecole Superieure des Sciences Economiques et Commerciales, France; European Institute for Advance Studies in Management, Belgium; Stockholm School of Economics, Gothenberg University, Sweden; and University of Rome (Tor Vergata), Italy.
Santomero spent the majority of his career at the University of Pennsylvania, where he was the Richard K. Mellon Professor of Finance at the Wharton School of Business from 1972 to 2002. During this time, he held a number of positions, including deputy dean of the school and director of the Financial Institutions Center. He received several teaching awards, including the Graduate Division Excellence in Teaching Award in 1982 and the Dean's Medal in 1988.
Santomero served as the president of the Philadelphia Fed from July 2000 to March 2006, a period that included the dot-com crash of the early 2000s. With a background that gave him unique expertise regarding both financial institutions and education, he oversaw the launch of the Reserve Bank's Payment Card Center, which provides meaningful insight into consumer credit and payment systems of use to businesses, academia, policymakers and the general public. Money in Motion, an interactive and informative exhibit for the general public, also opened during his tenure. The exhibit underscores Philadelphia's role as the birthplace of the nation's first central bank.
Since stepping down from his position at the Reserve Bank, Santomero remains active in the business and academic communities. He has served as a senior advisor to McKinsey & Company, offering guidance on the financial industry and risk management practices. He also serves on several boards of directors, including those of Penn Mutual, Renaissance Re Ltd., Citigroup and Citibank, and the board of trustees of Drexel University. Santomero also serves on the advisory board for the Mann Center of Performing Arts and as vice chairman on the advisory board for the LeBow College of Business at Drexel University. In addition, Santomero has also served as the associate editor of the Journal of Economics and Business since 1979 and the Journal of Money, Credit, and Banking since 1980.
Written by the Federal Reserve Bank of Philadelphia. See disclaimer.