William McDonough has been appointed chairman of the Basle Committee on Banking Supervision, part of the Bank for International Settlements (BIS). He succeeds Tom de Swaan, who has been Basle chairman since April 1997. De Swaan recently resigned as an executive director of de Nederlandsche Bank to join the managing board of ABN Amro Bank.

In addition to his role as chairman of the Basle Committee, McDonough is president and chief executive of the Federal Reserve Bank of New York, vice chairman of

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