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More Changes in Top Levels at Salomon Bros.

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From Associated Press

Salomon Bros., the Wall Street firm rocked by scandal in its bond-trading department last year, announced another wave of management changes Monday.

James L. Massey, head of the company’s international business, returned to New York to oversee the firm’s investments as well as a number of special projects.

In addition, Richard J. Barrett of the New York office was appointed co-head of Salomon’s investment banking unit, sharing that responsibility with Leo I. Higdon Jr.

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The company said Stephen J. D. Posford of Salomon’s London office and Dennis J. Keegan were promoted to co-chief executive officers heading Salomon’s operations in Europe.

Salomon also promoted Shigeru Myojin, head of the Tokyo office, to co-chief executive officer to head up Salomon’s Asian operations with Toshiharu Kojima.

Salomon, in a statement, said the changes were an effort to capitalize on the firm’s global reach.

The staff-change announcements come as Salomon struggles to deal with the repercussions of its bond-trading scandal.

Salomon, one of the nation’s biggest government securities traders, admitted last August making illegal bids for bonds at several of the Treasury auctions that finance the nation’s $3.5-trillion debt.

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