Roger Drayton, formerly with Midland Bank in London, has joined the U.K.'s Manchester-based Co-operative Bank in London as head of treasury. Sources at Midland say Drayton's responsibilities for asset liability, liquidity and fund management have been "dispersed among various persons."

Philippe Buhannic, aged 37, has succeeded Michel Quillery as general manager in New York of Fimat Futures USA, the international futures broker and subsidiary of Société Générale. Buhannic started his career

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