Salomon appoints advisory board

Monday, 24 May 1999 at 12:00

Salomon Smith Barney has followed JP Morgan, Chase Manhattan and Merrill Lynch by appointing an international advisory board of business leaders for consultation on economic, political and social conditions in its main markets.

Donald Rumsfeld, a former US ambassador to Nato, is to chair the board. Other members include Richard Cheney, former chief executive officer of Halliburton and former US secretary of defence, Sir Peter Bonfield, chief executive of British Telecommunications and Morris Tabaksblat, chairman of Reed Elsevier. Also on the advisory board - which will meet twice a year - are co-heads of Citigroup Sandy Weill and John Reed. Adel El-Labban, 41, has been appointed chief executive of The United Bank of Kuwait to replace Chris Keen. El-Labban joins from the Cairo-based Commercial International Bank, Egypt's largest private sector bank, where he was managing director from 1995. Sir Clive Thompson has been appointed deputy chairman of the Finance Reporting Council, which promotes good financial reporting and accounting standards. Thompson, who is chief executive of Rentokil Initial, will hold the post till April 2001. Kai Nargolwala, 49, and Chris Keljik, 50, have been appointed group executive directors at Standard Chartered. Nargolwala will have responsibility for worldwide corporate and institutional banking and corporate governance responsibility for Latin America and the US. He joined Standard Chartered last year from Bank of America. Keljik will be responsible for audit risk and special asset management, and was until last year responsible for the group's businesses in Africa.

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