Comcast vice chairman and chief financial officer Michael Angelakis has been named to the board of directors of the Federal Reserve Bank in Philadelphia.
Angelakis will serve a three-year term as a Class C director of the Philadelphia Fed, which helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.
Class C directors represent the public and are appointed by the Federal Reserve's board of governors.
Angelakis was one of three Class C directors named on Dec. 26 - the others were University of Delaware president Patrick Harker (newly elected to the board) and Bryn Mawr Trust Co. chairman and CEO Frederick "Ted" Peters II, who was re-elected to a second term. The terms for each member begin in January.
Angelakis joined Comcast as CFO in 2007 from Providence Equity Partners, where he served as a managing director for about eight years. Prior to Providence Equity, Angelakis was president and CEO of State Cable TV Corp. and Aurora Telecommunications. He also served as a vice president at Manufacturers Hanover Trust Co. in New York, where he oversaw one of the bank's media and communications portfolios.