FX Week

Nord/LB To Take Over BFG’s Office In N.Y. 1st Qtr. ‘91 Start Eyed, Pending Approval

BANKS

Norddeutsche Landesbank (Nord/LB) is planning to take over Bank fur Gemeinwirtschaft’s (BFG) office in New York in the first quarter of 1991, including its foreign exchange trading operation, pending regulatory approval.

"Nord/LB is going to open an office [in New York, they have applied for a license...[and will probably open on the] first of February or first of March next year," says Wolfgang Sander, vice president of operations at BFG in New York.

Assuming that the New York State banking d