The Wikipedia biography of Attorney General Loretta Lynch says that she held a board seat at the New York Fed from 2003 to 2005. On what basis did she get the job and who appointed her?
The Federal Reserve (or at least the NY branch) has three classes of directors. According to their website, Class A directors are elected by the member banks to represent the banks, Class B directors are elected by the member banks to represent the public, and Class C directors are appointed by the Federal Reserve Board of Governors to represent the public.
Based on this Internet Archive copy of the directors page, Loretta Lynch was a Class C director while working as a partner at Hogan & Hartson L.L.P (contemporary bio). That means she was appointed by the Board of Governors.
Governors are appointed to 14 year terms by the President with Senate confirmation (although the terms are rarely fully served). According to Wikipedia, the people who were on the board at the time of Lynch's appointment (2003) were:
- Ben Bernanke (2002-2005)
- Edward Gramlich (1997-2005)
- Alan Greenspan (1987-2006, chairman)
- Roger Ferguson, Jr. (1997-2006)
- Mark Olson (2001-2006)
- Susan Bies (2001-2007)
Presumably, those six people were the ones to appoint her, although I don't know if there's any formal documentation or explanation of why she was chosen.