NEW YORK (AP) _ R. Leslie Deak resigned Wednesday as president and chief executive officer of Deak-Perera U.S. Inc., the foreign currency and precious metals firm.

Deak-Perera U.S.'s parent company, Deak & Co. Inc., filed a petition for reorganization under Chapter 11 of the federal bankruptcy laws in December and recently agreed to sell its stock and assets to Chan Cher Boon.

Chan, a lawyer and accountant, was named to replace Deak as chief executive officer of Deak-Perera U.S. as part of the sale agreement, the company said in a statement.

Deak will continue as a director of Deak-Perera U.S., the company said.

Deak-Perera U.S., the largest remaining asset of Deak & Co., is not involved in the Chapter 11 proceedings.