Las Vegas Business Leader Joins San Francisco Fed’s Los Angeles Branch Board

LOS ANGELES--(BUSINESS WIRE)--The Federal Reserve Bank of San Francisco’s board of directors has appointed Keith Smith, president and CEO of Boyd Gaming Corporation, to the board of directors of its Los Angeles branch. In this role, Mr. Smith joins six other directors on the Los Angeles branch board in providing the Federal Reserve System with economic information about his industry and region. This information, along with other sources, is used by the Federal Reserve when reaching monetary policy decisions. Mr. Smith’s three-year term begins January 2009. He replaces outgoing board member Peter M. Thomas, managing partner of Thomas & Mack Co.

As president and CEO of Las Vegas-based Boyd Gaming Corporation, Mr. Smith has responsibility over 16 casino entertainment properties and operations located in Nevada, New Jersey, Mississippi, Louisiana, Indiana and Illinois. He is an industry veteran with more than 25 years of gaming experience. Mr. Smith first joined Boyd Gaming Corporation in 1990 and held various executive positions, before being promoted to chief operating officer in 2001. In 2005, Mr. Smith was named president and elected to the company’s board of directors, and in January of 2008, he assumed the role of CEO. He has been a part of senior management at properties in both Atlantic City and Las Vegas. Mr. Smith is currently vice chairman of the Las Vegas Convention and Visitors Authority, chairman of the Nevada Resort Association, and vice chairman of the American Gaming Association. He holds a degree in Accounting from Arizona State University.

The balance of the Los Angeles branch board includes:

• Andrew J. Sale, Ernst & Young LLP. Mr. Sale was redesignated chairman of the Los Angeles branch board beginning January 2009.
• Grace Evans Cherashore, Evans Hotels.
• Eric L. Holoman, Magic Johnson Enterprises.
• Dominic Ng, East West Bank.
• James L. Sanford, Northrop Grumman Corporation.
• Ann E. Sewill, California Community Foundation. Ms. Sewill was reappointed to the Los Angeles branch board by the Board of Governors for a three-year term beginning January 2009.

The Federal Reserve Bank of San Francisco, with branch offices in Los Angeles, Seattle, Salt Lake City, and Portland, and a cash processing office in Phoenix, provides wholesale banking services to financial institutions throughout the nine western states. As the nation's central bank, the Federal Reserve System formulates monetary policy, serves as a bank regulator, administers consumer protection laws, and is fiscal agent for the U.S. government.