Bhavesh V Patel, an Indian-American top executive of a multinational chemical company, has been appointed by the Federal Reserve Bank of Dallas to its Houston branch’s board of directors.
Patel, 53, is the chief executive officer and chairman of the management board of LyondellBasell Industries, one of the largest plastics, chemicals and refining companies in the world.
The Federal Reserve Bank of Dallas appointed Patel to its Houston branch’s board of directors for a term ending December 31, 2023.
He joined LyondellBasell in 2010 and held a variety of senior leadership roles including senior vice president, Olefins and Polyolefins – Americas; senior vice president, Olefins and Polyolefins – Europe, Asia and International, based in the Netherlands; and executive vice president, Olefins and Polyolefins – Europe, Asia and International.
Patel was named the CEO and chairman of the company’s management board in January 2015.
Prior to joining LyondellBasell, he held multiple leadership positions for Chevron Corporation and its affiliates for more than 20 years.
Patel is a member of the board of directors of the Greater Houston Partnership, a member of the Business Roundtable, and serves as vice chairman of the board and chairman of the executive committee of the American Chemistry Council.
He is a member of the external advisory council of the Ohio State University’s College of Engineering and a member of the dean’s advisory council for the Fox School of Business at Temple University.
Patel is also a member of the advisory committee for the Indo American Chamber of Commerce and Greater Houston (IACCGH).
‘We are proud that our Advisor Bob Patel will be serving on this august body,” Jagdip Ahluwalia, Founding Secretary of IACCGH, told PTI.
The Federal Reserve Bank of Dallas is one of a dozen institutions nationwide whose responsibility is implementing the monetary policy of the Federal Reserve System.
Its responsibilities include reviewing price inflation and charting economic growth, as well as regulating the banks within its territory.