The Federal Reserve Bank of Cleveland announced Wednesday that Beth M. Hammack will be its next president and chief executive officer after current president Loretta Mester retires at the end of June.

WASHINGTON — The Cleveland branch of the Federal Reserve said Wednesday that Beth Hammack, a former executive at investment bank Goldman Sachs, would be its next president effective Aug. 21.

The Federal Reserve Bank of Cleveland announced Wednesday that Beth M. Hammack will be its next president and chief executive officer after current president Loretta Mester retires at the end of June.