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April 28, 1988

Robert D. Arnott, 33, will become president of First Quadrant later this month, succeeding Robert M. Lovell Jr., 57, who was promoted to chairman. Arnott previously was a vice president at Salomon Bros. Inc. First Quadrant, in Morris Township, N.J., is the investment subsidiary of Crum & Forster, a unit of Xerox Financial Services.

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