Bankers Trust New York Corp. has set up a separate merchant bank based in London for emerging markets.

The Emerging Europe, Middle East, and Africa Merchant Bank will focus on capital markets, local currency trading, finance, direct investment, and advisory activities in central and eastern Europe, the Middle East, and Africa, Bankers Trust said in a press release. Existing offices in the Czech Republic, Greece, Hungary, Poland, Turkey, Russia, South Africa, Bahrain, Egypt, and Israel will become part of the new bank.

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