Britain's National Westminster Bank PLC has appointed George Trott as managing director of a new group, called "the major corporates group," that will manage its relationships with large corporate clients.
Those relationships were previously managed through the bank's investment banking arm, Natwest Markets.
The move follows last month's transfer of about $1.25 billion in corporate loans from Natwest Markets to another division in the bank.
"Further names are still to be transferred from Natwest Markets in the U.S., Far East, and European markets," the bank said.
Natwest dismissed as speculation rumors that the moves were part of preparations to sell its markets division.
The shift of both corporate loan assets and relationship management to the new division is "part of Natwest Markets' move toward pure investment banking business and away from commercial banking activities," according to a company statement.
The new group is scheduled to begin operation in January. Mr. Trott, based in London, was a managing director in Natwest Markets' investment banking division; he has been with the bank since 1965.
Germany's Deutsche Bank AG has appointed Friedrich Schmitz as global head of a newly created relationship management department for large corporate and institutional clients.
The bank said in a statement that it was setting up relationship management teams that will start work at the beginning of 1998. Mr. Schmitz has been with Deutsche Bank since 1983.
Another German-owned company, Dresdner Kleinwort Benson North America LLC, the U.S. investment banking arm of Germany's Dresdner Bank Group, hired two corporate finance bankers last week.
Matthew Beizer was named head of financial institutions, and Dalip Gambir was appointed head of telecommunications and media. Both will be based in New York and report to the company's co-heads of corporate finance, John Williams and John Siciliano.
Mr. Beizer was responsible for mergers and acquisitions of North American financial institutions at Barclays de Zoet Wedd. Mr. Gambir was a managing director in global mergers and acquisitions at Citicorp, where he focused on telecommunications and utilities.
BankBoston Corp. hired Andrew Bastone to be director and regional manager for global financial institutions, Eastern Europe, Middle East, and Africa.
Mr. Bastone was most recently at Nova Ljublianska Banka, Slovenia's largest bank.
Moody's Investor Service named Michael Mulvaney as managing director and head of its bank loan rating group.
Before joining Moody's in 1986, Mr. Mulvaney was a commercial banker specializing in merger and acquisition finance at Marine Midland Bank.
Moody's began rating bank loan financings last year and has since rated over 1,100, with a total volume of more than $300 billion.