FX Markets



Morton Lane, managing director at Bear Stearns & Co., left the firm late last month, sources there confirm. Ron Hersch, who joined the firm late last spring from Shearson Lehman Brothers in New York, has been named to fill Lane's shoes at the firm. Lane was brought on board to revive Bear Stearns futures operations about a year ago from Discount Corp. of New York Futures, where he was president.

Bernard Darmayan replaced Jacques Bellut as treasury director of Credit Lyonnais in Paris late last

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