BIS Press Release

PRESS RELEASE - BIS Board elects new Chairman and President, 7 January 2002.

At its meeting on 7 January 2002 the Board of Directors elected Nout Wellink, President of the Netherlands Bank, to the positions of Chairman of the Board and President of the Bank for International Settlements for a period of three years commencing on 1 March 2002.

Nout Wellink will succeed Urban Backstrom, whose term of office as Chairman of the Board and President of the Bank for International Settlements expires en

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