IBF names new chairman

Bell, the chief executive of the Australian Bankers' Association, was elected yesterday at the IBF board meeting in Sydney. He told the board he would continue Mullen's focus on regulatory developments, and would also pursue new regulations on the valuation of financial instruments related to hedge funds.

Other priorities include a code of conduct for credit rating agencies, and a greater emphasis on cross-border financial crime in international payment systems.

Ian Mullen was chief executive of the British Bankers' Association. He has now retired, to be replaced by Angela Knight.

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