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Fraga and Hackett elected leaders of Dallas Fed's Houston Branch board

For immediate release: February 17, 2004

The board of directors of the Federal Reserve Bank of Dallas' Houston Branch has re-elected Lupe Fraga chairman for 2004. James T. Hackett was named chairman pro tem.

Fraga was appointed to the Houston Branch board in 2001 by the Federal Reserve Board of Governors and served as chairman in 2003. He is president and chief executive officer of Tejas Office Products.

An active member of various civic organizations, Fraga has served as chairman of the boards of Harris County Child Protective Services, the Houston Hispanic Chamber of Commerce, and the Greater Houston Convention and Visitors Bureau. He has been honored as businessman of the year by the Houston Hispanic Chamber and received the Mexican Consulate's Angel Award.

Fraga earned a bachelor of business administration degree from Texas A&M University. He is a native of Houston, where he currently resides.

Hackett was appointed to the Houston Branch board in 2003 by the Federal Reserve Board of Governors. He is president and chief executive officer of
Anadarko Petroleum Corp., an independent oil and gas exploration and production company.

Before joining Anadarko, Hackett was president and chief operating officer of Devon Energy Corp. following its merger with Ocean Energy, where he had served as chairman, president and CEO. Ocean Energy was a product of a merger in 1999 with Seagull Energy Corp., where Hackett also was chairman, president and CEO.

Hackett joined Seagull from Duke Energy, where he led its Energy Services Division as president. Prior to that, he was executive vice president of Pan Energy when the company merged with Duke Power to create Duke Energy. His energy experience includes positions in engineering, finance and marketing with NGC Corp., Burlington Resources and Amoco Oil Co.

Additionally, Hackett is chairman of the Domestic Petroleum Council, a board member of the American Petroleum Institute and a member of the Society of Petroleum Engineers. He is a director of Kaiser Aluminum Corp., Temple-Inland Inc. and Fluor Corp. He also serves as president of the Houston Grand Opera and chair for the St. Luke's Episcopal Hospital capital campaign.

He has a bachelor of science degree from the University of Illinois and a master of business administration from Harvard University.

The Houston Branch board of directors consists of seven members, four appointed by the Federal Reserve Bank of Dallas board of directors and three by the Federal Reserve Board of Governors.


Media contact:
James Hoard
Phone: (214) 922-5307