Martha R. Seger served on the Board of Governors of the Federal Reserve System from July 2, 1984, to March 3, 1991.
Seger was born in Adrian, Michigan. She attended the University of Michigan, where she received a bachelor’s degree, a master’s degree in business administration, and a doctorate in finance and business economics. She is a member of both the Phi Kappa Phi and Beta Gamma Sigma societies.
In 1964, Seger accepted a position as a financial economist at the Board of Governors in Washington, DC. Three years later, she became chief economist for Detroit Bank and Trust. In 1974, Seger was hired as vice president at the Bank of the Commonwealth in Detroit, in charge of economics and investments. She served as a board member and corporate member of the Michigan Blue Cross/Blue Shield from 1974 to 1976 and was also a budget review panel member of the Madison Blue Cross/Bluer Shield protective reimbursement system. Seger was named to the list of Top 100 Corporate Women in America by Business Week in 1976.
From 1976 to 1984, Seger taught at several institutions, including the University of Michigan, the University of Windsor, the New Mexico School of Banking, the Prochow School of Banking at Madison, the Northern School of Banking at Marquette, and Central Michigan University. From 1981 to 1982, Seger served as Commissioner of Financial Institutions for the state of Michigan. In that position, she was chief state regulator of banks, savings and loan associations, and credit unions.
In May 1984, President Ronald Reagan nominated Seger to serve on the Board of Governors. As a governor, Seger delivered several noteworthy speeches, including “Interstate Banking: Prospects and Problems," "Maintaining the Expansion Beyond 1985” and “Financial Institutions Go Interstate."
During her eight-year stay at the Board, Seger chaired the Consumer and Community Affairs Committee and represented the Board as a member of the National Women’s Business Council as well as chairperson of the Neighborhood Reinvestment Corporation.
After leaving the Board of Governors, Seger became principal and economic consultant at M.R. Seger & Associates, a financial and economic consulting firm, from 1994 to 2001.
Throughout her career, Seger has served on the board of directors for several companies, including Amerisure Companies, Xerox Corp., Kroger Co., Johnson Controls Inc., and Amoco Co. In addition, she has been active in professional and civic organizations. These include the President’s Club at the University of Michigan, Mariners Church of Detroit, Founders’ Society, and the Detroit Institute of Arts. She also served as chairman of the Economic Advisory Council of the Republican Caucus for the Michigan Senate.
Written by the Board of Governors of the Federal Reserve System. See disclaimer.