New York Fed board reelects Solvay Bank’s Mello to three-year term

The board of directors of the Federal Reserve Bank of New York has reelected Paul Mello, president and CEO of Solvay Bank, to a three-year term ending Dec. 31, 2017.

The New York Fed announced Mello’s reelection in a news release posted Wednesday on its website.

Mello serves as a Class A director representing Group 3, which includes banks with capital and surplus of less than $30 million.

Mello joined the New York Fed’s board of directors in March 2012, according to the news release.

Solvay Bank appointed Mello to its top position in 2002. Prior to his appointment, he served as the bank’s executive vice president and CFO.

He also launched the bank’s insurance subsidiary, Solvay Bank Insurance Agency, Inc., and launched its brokerage-advisory services, according to the New York Fed.

Before joining Solvay Bank, Mello worked for Coopers & Lybrand in Syracuse from 1989 to 1993, a professional-services firm that later became PricewaterhouseCoopers after a merger in 1998.

In addition to his regular work obligations, Mello also serves as chair of the Albany–based Independent Bankers Association of New York State and the Upstate Medical University Foundation.

He also previously was a member of the community-depository institutions advisory council of the Federal Reserve Bank of New York, according to the news release.

Mello also serves on the board of directors for the Eraser Company, Inc., a DeWitt–based manufacturer of wire, cable, and tube-processing tools; the St. Camillus Health & Rehabilitation Center; and the LeMoyne College board of regents and accounting-advisory committee.

He is also a member of both the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants, both based in New York City.

Mello holds a bachelor’s degree in accounting from Le Moyne College and is a certified public accountant.