Bankers Trust has officially dropped "New York" from its name.
Like other banks making taking such a step, the former Bankers Trust New York Corp. said it was seeking to highlight its scope. The move "reflects our growing international presence," said spokeswoman Andrea Bergofin.
The $150 billion-asset company made the switch official in late April, after shareholders approved it.
That same month Bankers Trust bought the European-based equity underwriting and research units of Natwest Markets. The deal brought the U.S. company, which already had 3,000 employees in 25 European cities, 900 more staff members and eight new offices.
The new unit will be called BT Alex. Brown International, a division of Bankers Trust International PLC. In September, Bankers Trust bought the Baltimore-based brokerage firm Alex. Brown & Sons, now called BT Alex. Brown.
"They are starting to tell a new story about their future," said James Cerutti, a brand consultant at Diefenbach Elkins in New York. He said consolidation and globalization are prompting many banks to "redefine who they are."
In April 1997, State Street Corp. dropped "Boston" from its corporate name, also in an effort to emphasize the global operations of the $39 billion-asset company.
During the same month $15 billion-asset Bancorp Hawaii in Honolulu changed its name to Pacific Century Financial Corp. Lawrence M. Johnson, chairman and chief executive officer, said Pacific Century "better communicated" the company's business and geographic reach-across Asia, the Pacific, and the continental United States.