CHARLOTTE, N.C. -- NationsBank Corp. said it plans to open a trust company in New York, its first such unit in a state where it doesn't have a commercial bank.

NationsBank Trust Co. of New York will open in lower Manhattan on July 11, with six sales and administrative associates. The unit will focus on corporate trust and securities lending and will be led by Robert Landau, who currently runs NationsBank's corporate trust business.

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