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Citicorp man named NYSE chief: Interim position: John Reed given a mandate to replace Grasso, reform board.

The America's Intelligence Wire

| September 22, 2003 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Financial Post)

Byline: Donna De Marco

NEW YORK - John Reed, who ran Citicorp for 14 years and helped create the world's largest financial services company, was named interim chairman of the New York Stock Exchange and will lead the effort to find a permanent replacement for former CEO Richard Grasso.

Mr. Reed, 64, is re-emerging on Wall Street for the first time since he retired from Citigroup in April, 2000 after losing a power struggle to co-CEO Sanford Weill. He said he wants to reform the exchange's board structure and governance following Mr. Grasso's ouster amid revelations over his US$140-million pay package.

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