#United States #Raleigh #First Citizens Bank #Frank B. Holding #Federal Advisory Council

Frank B. Holding Appointed to Federal Reserve's Federal Advisory Council

On February 10, 2026, it was officially announced that Frank B. Holding, the Chairman and CEO of First Citizens Bank, has been selected to serve on the Federal Reserve Board of Governors' Federal Advisory Council (FAC) for the year 2026. This prestigious role involves representing the Fifth District on behalf of the Federal Reserve Bank of Richmond.

The Federal Advisory Council is composed of 12 members from the banking industry, each representing one of the Federal Reserve Districts. Their primary responsibility is to provide consultation and advice to the Federal Reserve Board of Governors on various matters that fall within the Board's territory. Each year, the Federal Reserve Bank of Richmond elects a new representative for the FAC, with members typically serving three consecutive one-year terms.

Tom Barkin, President and CEO of the Federal Reserve Bank of Richmond, expressed his enthusiasm about Holding's appointment, stating, “Frank has provided the Richmond Fed with valuable insights for many years. I'm pleased that he has agreed to represent the Fifth District and share his perspective with the Board of Governors.” This sentiment highlights the confidence that the Richmond Fed has in Holding's experience and knowledge of the banking industry.

Since his election as Chairman of First Citizens Bank in February 2009, Holding has played a significant role in steering the bank towards a customer-focused and disciplined approach to banking. His leadership is recognized for maintaining strong asset quality and fostering a long-term vision that aligns with the company's goals. Under his guidance, First Citizens BancShares, Inc. has established itself as one of the top 20 financial institutions in the United States, with over $200 billion in assets and a workforce exceeding 18,000 associates across a nationwide branch network.

Upon learning about his new advisory appointment, Holding stated, “It's an honor to serve the Fifth District in this advisory capacity. I look forward to joining other district members in support of the Federal Reserve's important mission to provide the nation with a safe, flexible, and stable monetary and financial system.” His eagerness to contribute to the nation's financial stability underscores the importance of this role not just for his bank, but for the larger financial community as well.

Frank Holding's roots trace back to Smithfield, North Carolina, where he was raised. He holds a bachelor’s degree in business from the University of North Carolina at Chapel Hill and earned his MBA from The Wharton School of Finance at the University of Pennsylvania. His educational background, combined with years of industry experience, equips him well for this influential position. Besides his role at First Citizens Bank, Holding is actively involved in the community as chairman of the Global Transpark Foundation and as a trustee at Wake Forest University.

In summary, Frank B. Holding’s appointment to the Federal Advisory Council not only marks a significant achievement in his career but also indicates the confidence placed in him to represent the interests of the Fifth District effectively. As the financial landscape continues to evolve, Holding's insights and contributions are expected to be invaluable in shaping policies that affect the banking industry and the economy at large. With strong leadership, he is set to support the Federal Reserve in its ongoing mission to ensure a robust and stable financial system in the years to come.