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For immediate release: February 28, 2008

Chang Elected Chairman of Dallas Fed’s Houston Branch Board

DALLAS—The board of directors of the Federal Reserve Bank of Dallas' Houston Branch has elected Nancy T. Chang chairman for 2008.

She was appointed to the Houston Branch board in 2005 by the Federal Reserve Board of Governors and was chairman pro tem in 2006 and 2007.

Chang is currently employed as a managing director with OrbiMed, an investment firm focusing on the healthcare industry.

She was cofounder, CEO and chairman of the board of Houston-based Tanox Inc., a biopharmaceutical company acquired by Genentech in August 2007.

She serves on the boards of BioHouston, Charles River Laboratories and the University of Texas M.D. Anderson Board of Visitors.  She also serves on the advisory council for Stanford Bio-X/Bioengineering.

The Houston Branch board consists of seven members, four appointed by the Dallas Fed board and three by the Federal Reserve Board of Governors in Washington, D.C.

For more information on the Dallas Fed, visit


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