Cathy E. Minehan was the twelfth president of the Federal Reserve Bank of Boston, serving from July 1994 to July 2007.
Minehan was born in Jersey City, New Jersey. She earned a bachelor’s degree from the University of Rochester in 1968 and a master’s in business administration from New York University in 1977.
Minehan began her career with the Federal Reserve System in 1968 at the Federal Reserve Bank of New York, working as a bank examiner, analyst, and supervisor. She was named operations analysis officer in 1975 and manager of the management information department in 1976. In 1978, she spent a year in Washington, DC, as the visiting assistant secretary to the Board of Governors of the Federal Reserve System. Upon returning to the New York Fed in 1979, she was named assistant vice president, with responsibilities in data processing and also served as senior aide to the president. She was promoted to vice president in 1982 and senior vice president in 1987. As senior vice president, Minehan was responsible for the funds, securities, and accounts group.
Minehan moved to the Boston Fed in 1991, becoming the first woman to hold the position of first vice president in the System. In July 1994, she became the Bank’s president, the first woman to hold this position in Boston and only the second woman to serve as president of a Reserve Bank in the System. During her term, Minehan served as chair of the Financial Services Policy Committee and played a key role in System-wide planning for Y2K preparedness and response.
A strong advocate for community development and public education, Minehan has served on the boards of numerous civic and professional organizations, including the New England Council, the Boston Economic Council, Massachusetts General Hospital, and the United Way of Massachusetts Bay and the Merrimack Valley. The Greater Boston Chamber of Commerce awarded her the Pinnacle Award for Lifetime Achievement in 2006. She is currently dean of the School of Management at Simmons College and a partner at Arlington Advisory Partners.
Minehan is married to E. Gerald Corrigan and has two children by a previous marriage.
Written by the Federal Reserve Bank of Boston. See disclaimer.