TRADING PLACES

TRADING PLACES

Willy Kestens, global treasurer of KBC Bank (formerly Kredietbank) in Brussels, will be retiring on June 1 after 41 years of service to the bank. Kestens is also a former president of ACI--The Financial Markets Association, and will continue as an honorary president into his retirement. He will be replaced at the bank by Patrick Roppe, regional treasurer for Europe.

Standard Chartered Bank last week appointed Gerard Lyons as head of research for the treasury division in London, confirms a

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