Florida State University business alumnus Ted T. Cecala has been appointed to the Board of Directors of the Federal Reserve Bank of Philadelphia. The chairman and chief executive officer of Wilmington Trust Corporation, www.wilmingtontrust.com, begins his three-year term this month.

A certified public accountant who received his bachelor’s degree in finance and accounting at FSU in 1971, Cecala was inducted into the College of Business 2007 Hall of Fame.

"I thought Florida State provided me with a great background," Cecala said during an interview for his Hall of Fame induction last year. "I can’t imagine getting training that would be any different, that would be as helpful, as the training I received at Florida State." Watch more of Cecala’s interview.

Cecala has served as Wilmington Trust’s CEO since 1996. He joined the financial services holding company in 1979 as controller and later became chief financial officer. According to Wilmington Trust, under Cecala’s leadership, the Delaware-based company has diversified its revenue sources and experienced significant expansion by focusing on three core businesses: regional banking, wealth advisory services and corporate client services.

The Federal Reserve Bank of Philadelphia is one of 12 Federal Reserve Banks across the United States. Along with the Board of Governors in Washington, D.C., these 12 regional banks make up the Federal Reserve System. They help formulate and implement monetary policy, supervise banks and bank holding companies, and provide financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves the Federal Reserve System's Third District, which includes eastern Pennsylvania, southern New Jersey and Delaware.

Each of the 12 regional banks has a nine-member Board of Directors that oversees its operations. Board membership is drawn from various regional business sectors and the regional banking community. One expectation of Board members is to provide information about local market and economic conditions, which is used to help determine monetary policy.

For more information about the College of Business, please go to www.cob.fsu.edu.