Bankers Trust Co.'s private bank said it appointed Stephen E. Doty managing director and senior portfolio manager.

Mr. Doty had been a senior portfolio manager in Chase Manhattan Corp.'s family and entrepreneurial wealth groups, which manage about $20 billion of assets. He left the company in March.

At Bankers Trust, Mr. Doty reports to Leo Grohowski, the head of all actively managed investments.

Mr. Doty, who is to oversee most of the bank's private-client investments, is in charge of three new teams in New York totaling 15 portfolio managers, as well as six portfolio managers spread among California, Connecticut, and Florida.

Mr. Doty said Bankers Trust is in "upgrade mode" and that he was attracted to its expansion plans.

"It's almost like buying a stock," he said. "Here's a company that went through some problems and now is really on the upswing.

"Their reputation is on the rise. They are very committed to the private-client business and to the importance of the investment people in that process."

Mr. Doty spent 10 years with Chase and a predecessor, Chemical Banking Corp. He has also managed investments for wealthy clients at U.S. Trust Corp. and Citicorp.

Bankers Trust manages $335 billion of assets for institutional and individual clients.

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