Scudder Kemper Investments Inc. of New York has hired a managing director to head its European institutional business.

Stephen Cohen, 43, joined Scudder Kemper's London office Monday. He succeeds Nicholas Bratt, co-head of global equities, who had held the position on an interim basis since the departure of Dennis H. Ferro in July. Mr. Ferro left to join First Union Corp.'s capital management group as chief investment officer.

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