St Louis Fed names new first vice president

David A. Sapenaro, 42, has been named first vice president and chief operating officer of the Federal Reserve Bank of St. Louis.

He succeeds W. LeGrande Rives, who is retiring as of Jan. 2, 2006. Sapenaro joined the St. Louis Fed in October 1995, following 10 years of service with the Federal Reserve Bank of Kansas City.

Currently, Sapenaro is a senior vice president in charge of operations that provide cash management and other services to the U.S. Treasury and serve as a central point of cont