Bloomberg News

NEW YORK — The Federal Reserve Bank of New York has named David Puth, a managing director at J.P. Morgan Chase & Co., chairman of its foreign exchange committee, a J.P. Morgan spokesman said.

Mr. Puth, 44, is head of sales, trading, and research for Morgan Chase’s interest rate markets business. He has been a member of the New York Fed’s foreign exchange committee since 1990, and his term as chairman will last until 2004, said the spokesman, Andy Tuck.

Mr. Puth succeeds Paul Kimball, managing director and global co-head of foreign exchange at Morgan Stanley Dean Witter & Co., as chairman.

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