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WILLIAMS TO SUCCEED LERNER AS BANKERS TRUST CHIEF GLOBAL MARKETS ECONOMIST

 NEW YORK, May 13 /PRNewswire/ -- Alan C. Lerner, chief global markets economist at Bankers Trust Company for nearly 20 years, will leave on May 31 to establish his own consulting firm, it was announced today by Eugene B. Shanks Jr., Bankers Trust's president. He will be succeeded by John R. Williams, who has been Mr. Lerner's colleague over the past nine years.
 "Alan Lerner's forecasts of the economy's direction and day-to-day evaluation of how economic data impact the financial markets have been an integral part of our operations and have contributed to our success," said Mr. Shanks. "We anticipate that the work of John Williams, his partner of many years, will be as fully a part of our daily operations as was Alan's," he added.
 Mr. Lerner joined Bankers Trust from Salomon Brothers in 1974 and was elected a managing director in 1978. He received a BA degree in economics from Brooklyn College in 1966 and an MBA from the NYU Stern School of Business in 1968 where he subsequently was an adjunct professor of economics and finance.
 Mr. Lerner inaugurated and wrote "Prospects for the Credit Markets," a weekly newsletter for Bankers Trust customers worldwide. He has also been a columnist for the Japan Economic Journal, Japan's largest and most influential business publication, and a regular commentator on economic matters in the print and electronic media.
 Mr. Williams joined Bankers Trust in 1984 and was elected a managing director in 1989. He previously was with the Federal Reserve Board for 11 years, the last four as head of the group responsible for forecasting, analyzing and targeting of money and reserves. He regularly briefed and advised the board of governors, the Federal Open Market Committee and the Open Market Desk in New York.
 Like his predecessor, Mr. Williams advises managers of Bankers Trust's fixed income, foreign exchange and equity activities in the United States, Europe and the Far East and provides portfolio managers, traders and other risk managers with forecasts of economic conditions and interest rates. He will assume editorship of "Prospects for the Credit Markets," to which he has been a frequent contributor, and will continue to offer views on economic matters in speeches and in the media.
 Mr. Williams earned a BS degree from Frostburg (MD.) State University in 1973 and MA (1976) and Ph.D. (1981) degrees from George Washington University, Washington, D.C.
 -0- 5/13/93
 /CONTACT: Kenneth A. Brause of Bankers Trust New York Corporation, 212-454-1120/
 (BT)


CO: Bankers Trust New York Corporation ST: New York IN: FIN SU: PER

PS-OS -- NY022 -- 7989 05/13/93 10:01 EDT
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Date:May 13, 1993
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