The Board of Governors of the Federal Reserve has appointed Ken Banks, founder and CEO of Banks Contracting Company Inc., to the Federal Reserve Bank of Richmond Board of Directors. Banks’ three-year term began Jan. 1.
Banks brings to the director role 35 years of business expertise and insights to help inform the Fed’s monetary policy deliberations. Banks also serves as a commissioner for the Maryland Economic Development Commission, a governing body that develops economic policy in Maryland and oversees the Maryland Department of Commerce in its efforts to support creation, attraction and retention of businesses and jobs.
Moreover, Banks is a member of the Governor’s Workforce Investment Board, Gov. Larry Hogan’s chief policy-making body for workforce development in Maryland.
Additionally, Banks serves on the Health Advisory Board of the Johns Hopkins Bloomberg School of Public Health, Board of Visitors with R Adams Cowley Shock Trauma and Maryland Chapter of the Cystic Fibrosis Foundation and the Board of Directors with the Maryland Chamber of Commerce and the Greater Baltimore Committee.
Banks has expanded his influence internationally as a facilitator of global partnerships, working to secure financial resources for housing, hospitals and infrastructure. His philanthropic activities include contributing to numerous local charities, in addition to supporting innovative projects that have global economic reach. Banks is integrally involved with the Johns Hopkins Puno Global Health Research Project to design and create locally assembled ventilation systems for thatched and adobe-style homes, in regions throughout the world.