Carolyn H. Jackson is resigning as executive director of the International Swaps and Derivatives Association to pursue a career as a novelist.

"After 15 years of professional life in financial derivatives, and contemplating the next 15, I realize that I now want to pursue a different path," Ms. Jackson said. "I have decided that the time has come to carry out my longtime interest in writing fiction."

ISDA chairman Gay H. Evans, a senior managing director at Bankers Trust in London, said the board had high praise for Ms. Jackson's contribution and dedication to the association and the industry.

Ms. Jackson, came to the ISDA directorship in March 1995 from Banque Indosuez, where she was first vice president in charge of derivatives products and the trading desk in New York. Previously she worked at BNP Capital Markets and Chase Manhattan Bank.

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