Denis Hughes, the president of the New York State AFL-CIO, a trade union, has been named the new chairman of the New York Federal Reserve's governing board.
Lee Bollinger, the president of Columbia University, has been named deputy.
Hughes has served the board as a director since January 2004, as deputy chairman since January 2007 and as acting head since Stephen Friedman's departure in May. Friedman was a banker with Goldman Sachs.
Hughes, an electrician by trade, joined the New York State AFL