Knight, Kato to Head Sanwa Primary Dealer

John L. Knight and Shizuo Kato were named co-presidents in a restructuring of Sanwa-BGK Securities Co., New York, the U.S. primary government securities dealer unit of Sanwa Bank Ltd., Osaka, Japan.

As part of this restructuring, Sanwa Bank will purchase the limited partnership interest of Kenneth L. Gestal, Sanwa-BGK's president, and Robert G. Graustein, a senior managing director, both of whom left the firm to pursue other interests.

William Feezer was named Sanwa-BGK's head trader, replacing E. Craig Coats Jr., who left the firm.

Mr. Knight is one of the firm's founders and has served as senior managing director of Sanwa-BGK since 1988.

Mr. Kato, a 20-year veteran of Sanwa Bank, has served in many international positions with the bank and for the past three years has been general manager of Sanwa-BGK.

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