exchange revealed yesterday.

Mr. Sculley is the former head of private banking at JP Morgan & Co. Inc.

He is currently president of private investment and advisory firm Sculley Brothers LLC as well as chairman of IntraLinks, an electronic document distribution utility for the financial service industry.

Mr. Sculley is a son of the late Margaret Blackburn Smith of Bailey's Bay. His brothers are John Sculley, the former CEO of Apple Computer and president of Pepsico Inc. and David Sculley, the former president of H.J. Heinz USA and deputy managing director of H.J. Heinz UK.

The BSX also named First Bermuda Group of Companies CEO Jeffrey Conyers as an additional deputy chairman.

The appointments were effective Monday and follow the resignation of Audette Exel, who is also leaving as managing director of Bermuda Commercial Bank.

Mr. Sculley will focus on developing the BSX's international strategy while Mr. Conyers will assist with domestic strategy.

"The appointment of a chairman who is a non-bank representative and has the international experience of Arthur Sculley, strongly demonstrates the importance the banks and the council attach to the BSX in the global capital markets,'' exchange CEO William Woods said.

Prior to Mr. Sculley, the BSX chairman has always been one of the heads of the Island's three bank.

While at JP Morgan, Mr. Sculley recommended and was responsible for establishing JP Morgan (Hong Kong) Ltd., the merchant bank which is the foundation of JP Morgan's extensive southeast Asia presence.

Upon returning to New York in 1979, he was given responsibility for JP Morgan's major corporate relationships in Illinois and then served as head of JP Morgan's Middle East department focusing on Saudi Arabia, Kuwait and the UAE.

In 1986, he joined private banking and was appointed managing director. He established the global Mutual Funds Group which now has $22 billion under management. In 1990 he set up the high net worth brokerage group based in New York, Geneva and Hong Kong. He then was appointed head of the $80 billion worldwide private banking division.

In February of last year, he retired from JP Morgan after 25 years, 16 in corporate finance.

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