John W. (Jake) Marvin, chairman and chief executive officer of The Marvin Companies, has been selected by the Federal Reserve Board of Governors to serve another term as chair of the Federal Reserve Bank of Minneapolis. Marvin’s new term will expire December 31, 2011.

The Minneapolis bank is one of the 12 regional Federal Reserve Banks across the country. As chair, Marvin heads a nine-person board of directors overseeing the bank’s operations. The Minneapolis bank serves the 9th Federal Reserve District, encompassing Minnesota, North Dakota, South Dakota, Montana and portions of northern Wisconsin and Michigan.

“I’m honored that the Board of Governors has again entrusted me with leading the Minneapolis bank,” Marvin says. “It’s a great responsibility, and I look forward to working with the bank’s outstanding staff and my fellow directors to support the growth and health of businesses in our district.”

A graduate of Parsons College in Iowa, Marvin holds a law degree from the University of Houston. He has worked for The Marvin Companies since 1974 and has served on the board of the Federal Reserve Bank of Minneapolis since 2006.

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