A former UI associate professor was named president and chief executive officer of the Federal Reserve Bank of Minneapolis this week.

Narayana Kocherlakota will become the bank’s 12th president, assuming the duties on Oct. 8.

Kocherlakota served as an assistant professor of economics at the UI from 1990 to 1993. He then became a UI associate professor and held the position until 1995.

Kocherlakota earned a Ph.D. in economics from the University of Chicago at the age of 23 and an A.B. in mathematics from Princeton at 19.

After leaving the UI, Kocherlakota worked as a professor at Stanford University and at the University of Minnesota, where he was also chairman of the economics department.

— by Brian Stewart