BANKERS TRUST NEW YORK CORPORATION

American bank holding company originally incorporated as BT New York Corporation in 1965. It took its current name in 1967. Headquarters are in New York City. The corporation was organized mainly by acquiring banks and other financial institutions. The largest commercial bank in the organization is Bankers Trust Company, New York, established in 1903 as a trust company for national and state banks. It is an international banking network with branches, subsidiaries, affiliates, and representative offices in over 30 countries. During the 1980s the bank placed its highest priority on wholesale commercial banking, phasing out its retail branches and credit card operations. Bankers Trust has engaged in the sale of commercial paper since 1978. In 1981, Bankers Trust Company of Florida, N.A., commenced business as a trust company. The corporation also has credit, leasing, and investment advising affiliates.