UBS decides to keep Krauer as chairman

Article Abstract:

The current chairman of Swiss commercial bank UBS AG, Alexander Krauer, has agreed to maintain his position with the company for an additional three years. Originally intending to serve only as intermediary chairman, Krauer will remain on to ensure that the company holds to its new strategy of lessening the risk factor in obtaining new assets. In 2002, it is likely that Krauer will be replaced by UBS's current CEO, Marcel Ospel.

Switzerland, Abstract, UBS AG

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BNP appoints Paribas officers to key posts

Article Abstract:

Banque Nationale de Paris (BNP) has given important posts to Paribas SA senior officials on a special committee formed to speed up the merger of the two banks. Although the merger began as a hostile bid, a BNP spokeman said that the company wants to make the merger a friendly one. The committee would be led jointly by BNP's No. 2 executive, Baudouin Prot, and a senior board member of Paribas, Dominque Hoenn.

Asset sales & divestitures, Acquisitions & mergers, France, Banque Nationale de Paris (Paris, France), Paribas S.A.

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ABN Amro to shake up management structure

Article Abstract:

The Dutch bank, ABN Amro, has announced a management reshuffle in which the heads of the banks three main divisions will resign and be replaced by executives holding management positions in those divisions. Observers see the sudden resignations as the result of a power struggle.

Netherlands, ABN AMRO Bank N.V. (Amsterdam, Netherlands)

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