The president and CEO of the Southwestern Graduate School of Banking Foundation at SMU’s Cox School of Business has been named to a prestigious position in the world of high finance.
Jeffrey R. Schmid will become president and CEO of the Federal Reserve Bank of Kansas City starting August 21. The Nebraska native has 40 years of banking and regulatory experience, the Kansas City Fed said in a news release.
“We are excited to welcome Jeff back to the Tenth District as the Kansas City Fed’s next leader,” said Maria Griego-Raby, president and principal of Contract Associates in Albuquerque, New Mexico. She led the Kansas City Fed’s search committee.
“Jeff’s perspective as a native Nebraskan, his broad experience in banking, and his deep roots in our region will be an incredible asset to the Federal Reserve, both as a leader of the organization and in his role as a monetary policymaker,” Griego-Raby said.
Schmid will be replacing Esther L. George, who retired on January 31.
“I am honored to be selected to serve the Tenth District in this role and for the opportunity to lead the Kansas City Fed’s talented workforce as it carries out its important public mission,” Schmid said, per the news release. “It is a privilege to represent this region and to be able to build upon the long tradition of service that the Bank is well known for.”
Schmid has been with the Southwestern Graduate School of Banking (SWGSB) Foundation since 2021 after a distinguished career in banking. He graduated from the SWGSB summer residence program at SMU Cox in 1990. Schmid is also a longtime member of the Cox School of Business board of directors, according to a news release by SMU.
“Jeffrey Schmid has elevated the profile of the Southwestern Graduate School of Banking Foundation and its relationship with SMU. Both are stronger than ever before,” said Jill Castilla, chair of SWGSB’s board of trustees and president and CEO of Citizens Bank of Edmond, per the news release.
“Jeffrey’s leadership placed us on a higher trajectory for success, and we look forward to building on that momentum,” Castilla said.
SMU has hired Lochlin Partners, an executive recruiting firm, to search for Schmid’s replacement.
Schmid began his career in the Kansas City office of the Federal Deposit Insurance Corporation in 1981. He became president and CEO of two banks in the Midwest before helping establish Mutual of Omaha Bank in 2007 and serving as its chairman and CEO.
Thousands of financial services professionals have graduated from SWGSB’s banking management programs since its founding in 1957, according to SMU’s news release.
“[P]articipants fill the senior ranks of financial institutions, bank regulatory agencies, and bank-affiliated organizations throughout North America and abroad,” the release reads.
“It’s been my pleasure to work closely with Jeff, both in my role as dean of the Cox School and as a member of the SWGSB Board of Trustees,” said Matthew B. Myers, dean of the Cox School of Business. “SWGSB is a strong partner for SMU Cox, and Jeff has done a phenomenal job at the helm.”
“As much as we hate to see him go, we are so proud of his move into this critical position at the Federal Reserve Bank of Kansas City where his years of banking experience and keen leadership abilities will shape monetary policy and serve the greater public good,” Myers added.
Schmid received the SWGSB Alumni Association’s Distinguished Service Award in 2006, one of only seven graduates to receive the honor in the organization’s 64-year history.
The Kansas City Fed serves Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico, and western Missouri. It has offices in Denver, Oklahoma City, and Omaha, in addition to Kansas City.
