published Saturday, May 18th, 2013

Business Briefs: Decosimo to join FSG Bank board

Decosimo to join FSG Bank board

Joseph "Nick" D. Decosimo, managing principal of the Chattanooga accounting firm of Joseph Decosimo and Co., is joining the board of the recently recapitalized First Security Group Inc., pending regulatory approval. Decosimo will replace Robert "Bob" P. Keller, who announced Friday he is leaving the FSG Bank board after two years.

The board changes come a month after a group of investors bought $91.1 million of additional First Security stock, allowing the bank to repay its federal loan and strengthening the bank's balance sheet. FSG previously announced the appointments of Adam Hurwich and Henchy Enden to the bank board, also subject to regulatory approval.

U.S. urges change in Bangladesh

Secretary of State John Kerry says the U.S. wants to see Bangladesh move forward on improving labor standards after a building collapse that killed hundreds of garment workers. Kerry met Friday with Foreign Minister Dipu Moni and expressed deep sadness over the Rana Plaza disaster three weeks ago in which 1,127 people died.

Kerry said he hoped it would spur cooperation on labor standards and worker rights.

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