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Emanuel picks new deputy Chicago mayor

Chicago Mayor Rahm Emanuel has picked a longtime Credit Suisse executive to serve as the city’s deputy mayor.

Emanuel’s office announced Wednesday that Steven Koch is taking over the position being vacated by Mark Angelson, effective Sept. 4.

Emanuel says Koch’s experience in business and government will help create more economic opportunities. And Koch also says he plans to focus on bringing jobs to Chicago.

Koch has spent 27 years at Credit Suisse, where he’s held senior leadership roles in the Mergers and Acquisitions and the Investment Banking departments. He also serves as board chairman of both the Sinai Health System of Chicago and the Greater Chicago Food Depository.

The mayor’s office says Koch will make $1 a year in his new role, as his predecessor did.

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