Westdeutsche Landesbank's Nelson Resigns, Treasurer's Expansion Strategies Clash

BANKS

David Nelson recently resigned from Westdeutsche Landesbank (WestLB) as a result of "differences of opinion" with senior management, a source at the bank says. Nelson was a vice president and treasurer at the West German-based bank's New York office.

According to Dr. Peter Weingartz, general manager of WestLB in New York, one of the reasons Nelson left was "because he wanted to stay in the [interbank] trading business, whereas the bank is breaching into other areas."

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