Bankers Trust New York Corp. on Thursday announced the appointment of Richard H. Daniel as chief financial officer.
Effective next month, he will replace Timothy T. Yates, who said in June he would retire. The bank has been plagued by disclosures about its derivatives practices.
Mr. Daniel, 49, has been chief financial officer at the Federal Home Loan Mortgage Corp. since June 1994. Earlier he worked at BankAmerica Corp. and Wells Fargo & Co. - at both places with Frank N. Newman, Bankers Trust's president and chief executive.
Mr. Newman said he is "delighted" to be working again with Mr. Daniel, a mortgage specialist who was senior vice president at the Federal National Mortgage Association in the mid-1980s.
Bankers Trust chairman Charles S. Sanford said the responsibilities of chief financial officer "will continue to be in exceptionally competent hands."