Head of Institute of International Finance to Step Down

Charles Dallara, managing director of the Institute of International Finance. Susana Gonzalez/Bloomberg NewsCharles Dallara, managing director of the Institute of International Finance.

Charles Dallara, the managing director of the Institute of International Finance, announced on Thursday that he was stepping down.

Mr. Dallara, a former JPMorgan Chase banker and official in the administrations of Ronald Reagan and George H.W. Bush, played a central role in the recent European financial crisis as he represented private sector bondholders in negotiations with heavily indebted Greece.

As part of the restructuring of Greece’s debt earlier this year, investors agreed to take a loss of about 100 billion euros ($126 billion) on their holdings, while Greece accepted a drastic reduction of public spending. The austerity measures have been particularly divisive across Greek society, and voters will go to the polls on June 17 to elect a new government.

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Mr. Dallara, 62, is expected to leave his position at the Institute of International Finance, whose members include the world’s leading banks, by the end of the year. He had been managing director of the organization for 19 years.

A spokesman for the institute said its board had begun looking for a successor.