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BUSINESS
By Bloomberg Business News | December 3, 1994
NEW YORK -- The Securities and Exchange Commission plans to pursue civil charges against Bankers Trust New York Corp. in connection with its sale of derivatives to some corporate clients, sources familiar with the situation said.The SEC authorized an enforcement action against Bankers Trust after investigators convinced the agency's commissioners that a preliminary inquiry showed enough cause to purse civil charges that the bank violated securities laws, the people said.No charges have been filed against Bankers Trust.
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NEWS
By Jean Marbella, The Baltimore Sun | November 5, 2011
You might have seen the news footage of the guy in the orange construction vest who a couple of weeks back angrily yelled at the Occupy Baltimore encampment that he was "working his butt off to support you guys," apparently referring to the unemployed among them. If he really wanted to protest where his tax money may be going, he could have walked a couple of blocks from McKeldin Square. The findings of a new study indicate that because of corporate tax breaks, rebates and loopholes, many Fortune 500 companies pay little or no federal income taxes on their profits.
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BUSINESS
August 3, 1997
Regency Homes, Maryland's largest private homebuilder, recently received $14 million in capital from the Bankers Trust Funding Corp., an affiliate of Bankers Trust. The new funding gives Regency an equity of $4 million and a $10 million unsecured credit line from Bankers Trust, which recently announced the acquisition of Alex. Brown & Sons Inc."This new capital will allow Regency to continue on its fast-growth course," said Robert T. Kleinpaste, the company president. "We plan to use these new funds for acquiring other home-building companies and generating internal growth."
NEWS
By Bill Atkinson and Bill Atkinson,SUN STAFF | October 6, 2004
A.B. "Buzzy" Krongard, the former Baltimore investment banker who was replaced in a shake-up last week as the Central Intelligence Agency's No. 3 official, said yesterday that his professional future remains unclear. Krongard, who had been the agency's executive director since March 2001, will undergo back surgery this month and plans to make a decision on what he will do next after he recovers. "I have got to get through that first," said Krongard, 67, the former chairman and chief executive of Alex.
BUSINESS
By New York Times News Service | December 6, 1994
In the first big government action against a seller of the financial instruments known as derivatives, the Federal Reserve Board said yesterday that it had reached a settlement with Bankers Trust Co. that requires the bank to increase the disclosure of risks its customers face.At the same time, two other federal agencies, the Securities and Exchange Commission and the Commodity Futures Trading Commission, are expected to reach a joint settlement against Bankers Trust in the next few weeks.
BUSINESS
By Bill Atkinson | April 21, 1997
DAVID BOYD WAS fuming the day he read in The Sun that Alex. Brown Inc. had agreed to sell to Bankers Trust New York Corp.The retired Towson State University professor grumbled that the deal was just another example of the rich getting richer.He was so mad, he was going to sell some of his 475 shares of Alex. Brown and spend the money on a "super vacation."Now, he's having second thoughts.One reason: Bankers Trust pays a hefty $4 annual dividend -- more than five times what Alex. Brown pays a year.
BUSINESS
By BLOOMBERG NEWS | October 27, 1998
NEW YORK -- Shares of Bankers Trust Corp., which acquired Alex. Brown a year ago, fell as much as 9 percent yesterday after Deutsche Bank AG Chief Executive Officer Rolf Breuer denied that Europe's second-largest bank was in discussions to purchase the seventh-biggest U.S. bank holding company.After falling as low as $61.5625, Bankers Trust closed at $62.875, down $4.Deutsche Bank is holding discussions with acquisition targets but has not held any talks with BT, Breuer said in an interview with weekly newsmagazine Der Spiegel.
BUSINESS
By BLOOMBERG NEWS | September 19, 1997
NEW YORK -- Bankers Trust New York Corp. yesterday said it's not in merger talks, after takeover speculation drove its stock up as much as 13 percent."
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | April 26, 1997
Three weeks after it announced its plans to acquire Baltimore-based Alex. Brown Inc., Bankers Trust New York Corp. signed a definitive agreement yesterday to buy NationsBank Corp.'s $133 billion-asset institutional trust business.The deal will increase Bankers Trust's global assets under custody to nearly $2 trillion. Bankers Trust will gain 465 institutional customers, including corporations, nonprofit organizations, public agencies and union pension plans.Terms of the transaction were not released.
BUSINESS
By BLOOMBERG NEWS | April 28, 1999
NEW YORK -- Bankers Trust Corp. shareholders approved the company's $10.1 billion sale to Deutsche Bank AG yesterday, removing a hurdle to creation of the world's biggest financial-services company.The vote, at a special Bankers Trust shareholders' meeting, leaves approval by U.S. regulators as the last major barrier to the sale. The banks expect to complete the transaction by the end of the quarter, said Frank Newman, chairman of Bankers Trust.Deutsche Bank will pay $93 a share for Bankers Trust.
BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | October 21, 2003
Alexander T. Mason will leave his post as vice chairman of Deutsche Bank's U.S. division to help Mercantile Bankshares Corp. map out a growth strategy, the Baltimore-based bank said yesterday. Mason, a 30-year banking veteran and former college classmate of Mercantile chief executive Edward J. Kelly, will join Mercantile as vice chairman but won't serve on the bank's board of directors. He joins a bank that has struggled with low interest rates and the complexity of managing its acquisition of Frederick-based F&M Bancorp, its largest ever.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | April 25, 2003
Deutsche Bank AG, Germany's biggest bank and parent to the former Alex. Brown & Sons, said yesterday that it expects to post a first-quarter loss of $221 million because of stock market losses and write-offs related to its stakes in other companies. The Frankfurt-based bank said it will be taking net charges in the first quarter of about $800.15 million. Before taxes and partially offsetting gains, the charges were even higher: Deutsche Bank is writing down more than $440 million for securities it had up for sale, another $110 million on private-equity investments and $689.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | February 8, 2003
Deutsche Bank AG, Germany's biggest bank and the parent of the former Alex. Brown & Sons locally, announced an unexpected fourth-quarter loss yesterday, though its chief executive officer predicted a recovery this year. For the quarter that ended Dec. 31, Deutsche Bank reported a net loss equivalent to about $113 million. The loss was much less than the $1.08 billion loss posted for the comparable period of 2001, but it was far from the $217.8 million profit analysts had expected. Chief Executive Officer Josef Ackermann "is delivering the cost cuts, but that isn't enough to offset weak revenue," said Rolf Zartner, a money manager with Deka Investment GmbH in Frankfurt, and one of the bank's largest stockholders.
NEWS
By Kate Shatzkin and Kate Shatzkin,SUN STAFF | March 28, 2002
The trustees of the Alex. Brown & Sons Charitable Foundation are giving away half their $21 million in assets in a sudden spending spree, hoping the profits of the venerable investment house will live on in Baltimore institutions even as the Alex. Brown name recedes. The beneficiaries of $11 million in grants, seven of which are $1 million each, include museums, hospitals, universities and cultural institutions. In all, 34 organizations will receive more than $25,000 each. With Alex. Brown subsumed by two mergers in the past five years - its parent, Deutsche Bank AG, will formally cease using the Alex.
BUSINESS
By BLOOMBERG NEWS | February 8, 2002
NEW YORK - Deutsche Bank AG lost a bid to dismiss a lawsuit alleging that Chief Executive Officer Rolf-E. Breuer misled investors in a comment he made to a German reporter about a takeover of Bankers Trust Corp. The case centers on an interview Breuer gave to a reporter for the German news weekly Der Spiegel on Oct. 22, 1998, when he was asked, in German, whether Deutsche Bank had engaged in takeover talks with Bankers Trust, which then was the parent of Baltimore investment brokerage Alex.
NEWS
By Candus Thomson and Jon Morgan and Candus Thomson and Jon Morgan,SUN STAFF | September 28, 2001
Former Baltimore Mayor Kurt L. Schmoke and former Deutsche Banc Alex. Brown Chairman Mayo Shattuck III are scheduled to be interviewed this weekend for the job of U.S. Olympic Committee chief executive. A search committee this week narrowed a list of contenders to six, including Schmoke and Shattuck, according to a source at the USOC. A third Baltimore man, prominent sports agent Ron Shapiro, took his name out of contention this week. The former mayor, now in private law practice, would not comment on reports.
BUSINESS
By BLOOMBERG NEWS | April 27, 1999
NEW YORK -- Bankers Trust Corp. said yesterday that first-quarter earnings fell 37 percent, less than analysts expected, as it reduced emerging-markets loans and investments before its acquisition by Germany's Deutsche Bank AG next month.Reporting earnings for the final time as an independent company, the nation's eighth-largest bank and parent of Baltimore-based BT Alex. Brown Inc. said net income fell to $140 million, or $1.30 a share, from $222 million, or $2.01, in the first quarter of 1998.
NEWS
By Bill Atkinson and Bill Atkinson,SUN STAFF | March 17, 2001
A. B. "Buzzy" Krongard, the former chairman and chief executive of Alex. Brown Inc., was named executive director of the Central Intelligence Agency yesterday, the organization's third-highest ranking position. Krongard, who gave up a $4 million-a-year job plus bonus three years ago to become counselor to CIA Director George J. Tenet, will run the agency's day-to-day operations. "I couldn't be any happier. I am ecstatic," said Krongard, 64, who starts the job March 26. "It gives me a chance to contribute more, which is something I want to do because I so deeply believe in the mission of the agency."
BUSINESS
By Kristine Henry and Kristine Henry,SUN STAFF | March 7, 2001
Deutsche Banc Alex. Brown Inc. will move its over-the-counter trading division to New York this summer, a move that means all position trading will be done outside Baltimore, company officials said yesterday. About 35 OTC traders in the Baltimore office at One South Street will be offered jobs in New York. Several sales traders will remain here, and about 10 people were fired. It will not be the first such move to New York for the company. In 1999, Alex. Brown moved its division that trades stocks listed on the New York Stock Exchange after its then-parent, Bankers Trust, was acquired by Deutsche Bank AG. "Traders like to be together, in sight of one another," Mayo A. Shattuck III, co-chairman and co-chief executive officer of Deutsche Banc Alex.
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