Philadelphia Fed Appoints New Member to Economic and Community Advisory Council

For immediate release

Contact: Sarah Katz, Media Relations

Philadelphia, PA - The Federal Reserve Bank of Philadelphia today announced the appointment of Peter Ruggiero, president and CEO of Crayola, to its Economic and Community Advisory Council (ECAC).

Ruggiero joins the ECAC in place of Rich Wuerthele, following his retirement from Crayola.

Created in 2008, the ECAC is composed of leaders representing businesses, nonprofit organizations, philanthropic organizations, academic institutions, the public sector, and organized labor. The ECAC informs the Philadelphia Fed's senior leadership team about emerging trends, issues, and market conditions in the Third Federal Reserve District. The ECAC also encourages inclusive regional economic growth through partnerships with organizations from the private and public sectors.

Ruggiero joined Crayola in 1997 and has held multiple leadership positions overseeing global finances and operations. He has been a key member of a senior leadership team that has built Crayola into an innovation company and enabled the expansion of Crayola's U.S. and international business units. Ruggiero has also overseen the automation of Crayola's U.S. manufacturing and a variety of sustainability initiatives, including the installation of a 3.0-megawatt solar farm at the company's corporate headquarters in Easton, PA.

Ruggiero previously worked at Union Pacific Corporation and Deloitte & Touche.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy; supervises state member banks, bank holding companies, 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 Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.