Bankers Trust New York Corp. has hired Kevin B. Ferrell as a managing director and head of its risk management advisory business.

Mr. Ferrell is also responsible for client coverage in Bankers Trust's oil and gas industry group. He reports jointly to Rodney McLauchlan and Yves de Balmann.

Mr. Ferrell had been chief financial officer of McKesson Corp., a San Francisco-based wholesaler of pharmaceuticals and other products, since 1994. Before that, he was an executive vice president and director of global investment management at Bank of America. Mr. Ferrell held several other high-level posts with San Francisco-based Bank of America, which he joined in 1976.

From 1972 to 1976, he was in the corporate finance area at J.P. Morgan & Co., New York, specializing in the oil and gas industry. From 1972 to 1973, Mr. Ferrell took a leave of absence to work in the executive office of the president of the Council on International Economic Policy.

Mr. Ferrell took another leave of absence from 1979 to 1980 to serve in the office of the secretary at the Department of Energy.

Bankers Trust also announced that Paul A. Volcker has been elected to the board of directors.

Mr. Volcker, chairman of the Federal Reserve Board from 1974 to 1979, had been chairman and chief executive of Wolfensohn & Co. before it was acquired by Bankers Trust on Aug. 1.

He joined Wolfensohn as chairman in 1988, and became chief executive in 1995.

J.P. Morgan & Co., New York, has promoted Ronald Gault, a managing director in its public finance unit, to head the new Johannesburg office, effective later this year.

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