Bond Groups to Form Int'l Association

The Bond Market Association, the International Securities Market Association, and the International Primary Market Association have agreed to integrate their European-based activities into the International Capital Market Association."ICMA will be a European-based [organization] with offices in London and Zurich, formed through the recently announced merger of ISMA and IPMA," the associations said. "ICMA will also include the European activities of the BMA, which has sponsored the establishment of the European Securitisation Forum and the European Primary Dealers Association and provided advocacy on various issues in the global capital markets." Hans-Joerg Rudloff, chairman of Barclays Capital, London, is expected to be named chairman of the ICMA. Manfred Schepers, currently senior managing director and head of BMA International, will transfer from the BMA and be nominated to become chief executive of ICMA as of July 1, succeeding John L. Langton, chief executive of ISMA.