Philadelphia Fed adds CHOP's Madeline Bell, Quench's Anthony Ibargüen to board of directors

This article was first published by Philadelphia Business Journal.

Children’s Hospital of Philadelphia CEO Madeline Bell and Quench USA CEO Anthony Ibargüen have been appointed to The Federal Reserve Bank of Philadelphia’s board of directors. 

Ibargüen will replace the retiring Edward Graham, finishing the remaining two years of his term. Bell will serve a full three-year term, replacing Michael Angelakis, CEO of Comcast-backed Atairos, who is rotating off the board. Both terms began this month. 

Clarifi President and Executive Director Patricia Hasson and Atlantic Community Bankers Bank CEO Jon Evans were reappointed as directors while TouchPoint CEO Brian McNeill and Rutgers University–Camden Chancellor Phoebe Haddon were named chair and deputy chair of the board respectively.

The other board members are Univest Corp. of Pa. Chairman William Aichele, New Tripoli Bank Chairman and CEO David Hunsicker and former AlliedBarton Security Services President and COO Carol J. Johnson.

Ibargüen is CEO of King of Prussia-based Quench and president of AquaVenture Holdings (NYSE: WAAS), Quench’s parent company that focuses on water purification solutions. Ibargüen has more than 25 years of executive leadership experience in the information technology and water services industries, and extensive knowledge of corporate governance, global enterprise management, and venture capital. He is also on the board of Insight Enterprises and NewSpring Holdings and the Philadelphia Community Advisory Committee of the John S. and James L. Knight Foundation. 

Bell was promoted to president and CEO of CHOP in July 2015 after serving as COO for eight years. She started at CHOP as a nurse and held a variety of nursing roles at other institutions before moving into hospital administration in 1995 when she returned to CHOP. She is on the boards of Comcast NBCU and Solutions for Patient Safety, and on the executive committee of the Greater Philadelphia Chamber of Commerce. She has been chair of the Federal Reserve Bank of Philadelphia’s Economic and Community Advisory Council.

The Federal Reserve Bank of Philadelphia’s nine-member board of directors oversees Bank operations, offers observations on economic conditions, establishes the Bank’s discount rate, and serves as a link between the Federal Reserve and the communities in the Third District, which includes eastern Pennsylvania, southern New Jersey, and Delaware. 

The Philadelphia Fed helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. Serving eastern Pennsylvania, South Jersey, and Delaware, the Bank 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.