Andrew Crockett to leave the BIS

SWITZERLAND - Andrew Crockett today announced that he would be stepping down as general manager of the Bank for International Settlements in March 2003. He delayed the announcement of his departure until the annual general meeting of the BIS in Basle in order to be able to personally inform the many central bank governors who were in attendance.

Crockett's second five-year term was due to end at the end of 2003. One effect therefore of his slightly early departure is to put him in the frame

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