The Federal Reserve Board announced the designation of the Chairs and Deputy Chairs of the 12 Federal Reserve Banks earlier this year, and the Philadelphia chair is a Latino.

Anthony Ibargüen is the newly appointed chair of the Federal Reserve of Philadelphia.

His appointment adds to the Board’s focus on increasing the diversity of Reserve Bank boards of directors to better reflect the communities they serve. 

Ibargüen is the CEO of Quench USA, Inc., a water technology company that provides bottle-free filtered water solutions for over 50,000 health and environmentally-conscious businesses throughout North America.

With over 25 years of executive leadership, Ibargüen has developed an extensive knowledge of corporate governance, global enterprise management, finance, operations, marketing, and capital markets. 

Ibargüen is no stranger to board roles. He currently sits on the board of Insight Enterprises, Inc., a Fortune 500 information technology business, where he is the lead independent director. He is also chair of the Nominating and Governance Committee, and a member of the Audit and Executive committees.

He also serves on the board of NewSpring Holdings, LLC, and the Philadelphia Community Advisory Committee of the John S. and James L. Knight Foundation — the latter of the two, his brother Alberto Ibargüen serves as its President & CEO. 

After the announcement of Ibargüen’s board chair appointment was made, Alberto Ibargüen took to Twitter to congratulate his brother.

Ibargüen graduated from Boston College, where he earned a bachelor’s degree in marketing before going on to earn an MBA from Harvard Business School. 

The Federal Reserve of Philadelphia has also appointed Sharmain Matlock-Turner as its Deputy Chair.

For 24 years, Matlock-Turner has effectively led the Urban Affairs Coalition as its CEO — the first woman to lead the more than 50-year-old coalition. 

She helps lead the charge in the organization’s mission to improve quality of life in the region, build wealth in urban communities, and solve emerging issues through key partnerships between government, business, neighborhoods and individuals. 

Matlock-Turner also serves on a number of boards, including the Chamber of Commerce for Greater Philadelphia, Uplift Solutions, Entrepreneur Works, the Children’s Scholarship Fund of Philadelphia, and the United Way of Greater Philadelphia and Southern New Jersey (UWGPSNJ). 

She also serves on the board of trustees of Peirce College and the Foundations Inc. National Advisory Board, and co-chairs the Philadelphia City Council’s Special Commission on Poverty Reduction and Prevention. 

Matlock-Turner holds a bachelor’s degree in education from Temple University, and was also one of three Philadelphia nonprofit leaders selected to receive a scholarship to the Harvard Business School’s nonprofit leaders’ summer program. 

As Class C directors, both Ibargüen and Matlock-Turner were appointed to represent the public. Their terms end on December 31, 2025, and December 31, 2024, respectively. 

The 12 regional Reserve Banks comprise the central bank of the nation, and work to ensure the strength and integrity of the U.S. economy and financial system by creating conditions that generate jobs, promote price stability, and foster economic growth.