The Federal Reserve Bank of Chicago has elected David J. Wagner to a three-year term as director of the Detroit branch.

Mr. Wagner is chairman, president, and chief executive officer of Old Kent Financial Corp., Grand Rapids, Mich., and chairman of Old Kent Bank.

He will succeed Charles R. Weeks on Jan. 1; Mr. Weeks, chairman of Citizens Banking Corp., Flint, Mich., is retiring after four years on the Chicago Fed board.

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