BIS appointment

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The Independent Online
THE BANK for International Settlements (BIS) yesterday announced it had appointed John Heimann as the first chairman of the new financial stability institute. The institute is a joint initiative by the BIS and the Basle Committe on Banking Supervision which is seen responding to needs for strengthening financial systems worldwide.

Frederik Munsch was appointed the institute's associate director. Heimann is currently chairman of Global Financial Institutions at Merrill Lynch, while Musch is secretary general of the Basle Committee on Banking Supervision.