CHICAGO - Chicago Mayor Rahm Emanuel announced Wednesday that next month, investment banker Steven Koch will replace departing deputy mayor Mark Angelson, who focused on economic and job development, business and budget issues.

Angelson, a former chief executive officer of R.R. Donnelley & Sons, joined the administration when Emanuel took office. He served as deputy mayor for a salary of $1 and as chairman of a new entity called the Mayor's Economic, Budgetary and Business Development Council.

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