Erburu Retains Post as Chair of Regional Fed

Robert F. Erburu, chairman and chief executive of Times Mirror Co., publisher of The Times, has been selected to serve a second year as chairman of the Federal Reserve Bank of San Francisco. Erburu, 58, is chairman of the San Francisco Fed this year and was chosen to hold the post in 1989 by the central bank’s Board of Governors in Washington.

Carolyn S. Chambers, 57, president and chief executive of Chambers Communications Corp. of Eugene, Ore., was designated deputy chairman for 1989 by the central bank board, the same post she holds this year. Chambers and Erburu represent non-banking interests on the board of the San Francisco Fed, which provides banking services to financial institutions in nine Western states.

The nine-member board of the San Francisco Fed again selected Paul Hazen, 46, president and chief operating officer of Wells Fargo & Co. in San Francisco, to serve as its representative on the Federal Advisory Council for 1989. The council meets quarterly with the central bank governors and offers advice on regional economic matters and monetary policy.

In addition, two Los Angeles executives have been elected to the board of the San Francisco Fed by its member banks. They are William E.B. Siart, 41, chairman, president and chief executive of First Interstate Bank of California, and William L. Tooley, 54, chairman of Tooley & Co. Investment Builders, a development firm.