Westdeutsche Landesbank Girozentrale, the Dusseldorf-based German bank, has launched a U.S. public finance department to market municipal and related derivative products to public finance clients in the United States.

The bank said this week that it has appointed David Spirakis, formerly a director of Swiss Bank Corp., as managing director of the new department.

Sellers Gets Risk Post

David J. Sellers, has been named vice president responsible for risk management of the bank's municipal finance portfolio.

Mr. Sellers previously held various positions at Sana Bank Ltd.'s New York branch, Chemical Banking Corp., and Morgan Guaranty Trust Co.

The Dusseldorf bank said it hoped to become a "prominent player in the municipal marketplace."

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