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For immediate release: January 25, 2011

Dallas Fed Houston Branch Leader Robert Smith to Retire; Daron Peschel to Assume Duties

DALLAS—Robert Smith III, senior vice president in charge of the Federal Reserve Bank of Dallas’ Houston Branch, will retire effective April 1, following a 43-year career, the Bank announced today.

Daron Peschel, currently vice president at the Houston Branch, will be promoted to vice president in charge of the Branch.

Smith began his Federal Reserve career in 1968 as an economic research assistant at the Dallas Fed. He rose through several executive positions, being named senior vice president and secretary in 1987.

For the past 24 years, Smith has served as senior vice president in charge of the Houston Branch. In Houston, he significantly expanded public outreach and community involvement and oversaw construction of the new Branch building, completed in 2005.

Smith also served for 35 years in the U.S. Navy, rising to the rank of rear admiral and receiving numerous military awards and commendations. He also was honored with a Distinguished Alumnus Award from Texas A&M University in 2006 and inducted into Texas A&M’s Corps of Cadets Hall of Honor in 2008.

Smith’s many civic activities have included chairing the Houston World Affairs Council, serving on the board of directors of Central Houston and chairing the Cotton Bowl Athletic Association.  He has also served as senior advisor to the Texas Bowl.

“Bob Smith’s 43 years of distinguished service to the Federal Reserve System will leave a lasting legacy,” said Dallas Fed President and CEO Richard W. Fisher. “We salute his decades of service to the Federal Reserve and to our nation and wish him all the best in his retirement.”

Peschel joined the Branch in 1989 and has served in numerous analytical and managerial roles.

He was named operations officer in 1998 and assistant vice president in 2001, serving as a principal team member and financial officer for the Houston Branch building project. He was promoted to vice president in 2007.

Peschel serves on the boards of Junior Achievement of Southeast Texas and Buffalo Bayou Partnership. He also serves on the advisory board for the Chair of Banking at Sam Houston State University and the Education Policy and Workforce Advisory Committee for Greater Houston Partnership.

Peschel holds a bachelor of business administration in finance from the University of Texas at Austin and a master of business administration in banking and financial institutions from Sam Houston State University.


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