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Article: Bankers Trust New York to sell San Francisco unit of Californian subsidiary.
- Article from:
- The Bond Buyer
- Article date:
- October 23, 1991
- Author:
CopyrightCOPYRIGHT 1991 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES -- Bankers Trust Company of California, a subsidiary of Bankers Trust New York Corp., said yesterday it has agreed to sell its San Francisco unit, which provides corporate trust, corporate agency, and program administration services primarily to California municipal issuers.
Bankers Trust said it has signed a purchase agreement with First Trust, a St. Paul, Minn.-based subsidiary of First Bank System Inc.
"This action reflects a strategic decision by Bankers Trust to redeploy capital and resources," B.J. Kingdon, seniior vice president and head of corporate trust, said in a statement for the firm. "Bankers Trust Company of California will ...