Dr. Susan M. Collins is the first Black woman and woman of color to be named president and CEO of the Boston Federal Reserve Bank.

Collins currently serves as provost and executive vice president for academic affairs at the University of Michigan — a role she took on in 2020, according to the Federal Reserve Bank of Boston.

Collins also serves as the chief academic and budget officer at the University of Michigan.

Wearing multiple hats, Collins is also an international macroeconomist with an interest in policy and its impacts on living standards. Collins has served as provost, dean, professor–research scholar– and board member for a variety of organizations, the bank said.

The announcement of Collins’ advancement followed an intensive search selected by the eligible members of the Bank’s Board of Directors — who are non-bank members — as well as the Washington-based Board of Governors of the Federal Reserve System.

“Dr. Collins brings the technical expertise and insight to contribute to policy making and the leadership ability to head the organization,” Dr. Christina Paxson, president of Brown university and chair of the bank’s board of directors, said. “She is deeply committed to serving the public, engaging with constituents, and advancing economic stability, opportunity, and prosperity for the region and nation through the work of the central bank”.