The reorganization of Bankers Trust's investment management operations is not expected to affect the day-to-day activities of its U.S. operations. The U.S. office will continue to be responsible for the management of domestic products and the marketing and client service in the U.S. market, said Ian Martin, the new global head of investment management. Mr. Martin, formerly the head of funds management at Bankers Trust Australia, replaced Ivan Wheen, who is moving to Singapore to head Bankers Trust's business strategies for Southeast Asia. Mr. Martin said the restructuring will integrate the manner in which products are presented to clients.
NationsBank has formed a new investment management subsidiary, TradeStreet Investment Associates, aimed at institutions.
Andrew M. Silton, director of investment strategy for the bank's trust unit, will be president of TradeStreet. TradeStreet will offer domestic investment management and will serve as subadviser to NationsBank's Nations Fund mutual fund family.
Mr. Silton said the firm may hire three or four people in the next 12 months, including one or two portfolio managers and perhaps business development and operations professionals. The new subsidiary will open with $30 billion in NationsBank Trust assets. Mr. Silton has not been replaced yet at NationsBank Trust and Investment Management, which will continue to manage an additional $30 billion in assets for private clients and local and regional institutions.
The KR-CRB Index, a widely watched index of commodity prices, will be altered beginning Dec. 6. The index, viewed by some as a bellwether for inflation, is being changed to improve the ability to trade futures on the index, and to reflect structural changes in the commodity markets. The following commodity futures contracts will be dropped: pork bellies, soybean meal, soybean oil, lumber and unleaded gas. Natural gas futures contracts will be added.
Futures contracts expiring in March 1996 will be the first to be affected in trading on the New York Futures Exchange.