NEW YORK - Chase Manhattan Corp. said Joseph W. Boyle is stepping down as head trader of pre-Brady loans, Brady bonds, and related options and derivatives in its emerging markets group.

The Brady and pre-Brady book will be co-managed by George Grunebaum, head Brady and pre-Brady trader in New York, and Brian Lazell, head trader in London.

The emerging markets group's head of pre-Brady loan and Brady bond options, John Duddy, will now report directly to Chase senior vice president Jorge Jasson, head of the emerging markets group, the bank said.

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