8-K

                 SECURITIES AND EXCHANGE COMMISSION

                      Washington, D.C.  20549


                          F O R M  8-K


                         CURRENT REPORT


               Pursuant to Section 13 or 15(d) of
               the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported) May 22, 1996 
                                                 ------------


               BANKERS TRUST NEW YORK CORPORATION               
- - -------------------------------------------------------
(Exact name of registrant as specified in its charter)



                            NEW YORK                            
- - --------------------------------------------------------
      (State or other jurisdiction of incorporation)


        1-5920                           13-6180473             
- - ----------------------------   ---------------------------------
(Commission file number)       (IRS employer identification no.)



      280 PARK AVENUE, NEW YORK, NEW YORK           10017       
- - --------------------------------------------      ----------
    (Address of principal executive offices)      (Zip code)

Registrant's telephone number, including area code (212) 250-2500
                                                   --------------


Item 5.  Other Events
- - ---------------------

     On May 22, 1996, Bankers Trust New York Corporation issued a
press release announcing that Wolfensohn & Co., Inc. will merge
with Bankers Trust. 




                           SIGNATURES



          Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be  
signed on its behalf by the undersigned hereunto duly authorized.


                              BANKERS TRUST NEW YORK CORPORATION



                              By  /s/ Gordon S. Calder, Jr.     
                                  ---------------------------
                                    Gordon S. Calder, Jr.
                                    Secretary




May 23, 1996



                       INDEX TO EXHIBITS

99.1     Press release of Bankers Trust New York Corporation, dated 
         May 22, 1996.

EX-99.1

Corporate Affairs Group, 130 Liberty Street, New York 
Mailing Address: P.O. Box 318, Church Street Station, 
New York, N.Y. 10008-0318

Bankers Trust New York Corporation
News Release
- - ----------------------------------------------------------------
For Release: WOLFENSOHN & CO., INC.  TO MERGE WITH BANKERS TRUST

     New York, May 22, 1996 -- Bankers Trust announced today that
Wolfensohn & Co., Inc., a global leader in the merger, acquisition
and corporate advisory businesses, will merge with Bankers Trust. 
The merger will create the BT-Wolfensohn M&A and Corporate Advisory
Group within Bankers Trust by incorporating Bankers Trust's M&A
Group into the Wolfensohn organization.

     Paul A. Volcker, the former chairman of the Federal Reserve
Board and the current chairman of Wolfensohn & Co., will join the
Board of Directors of Bankers Trust Company and its parent, Bankers
Trust New York Corporation, subject to appropriate approvals.  In
addition, Mr. Volcker will serve as a consultant to the chairman
and other senior executives of Bankers Trust.

     "We are extremely pleased to make today's announcement.  This
merger will bring to Bankers Trust a premier client relationship
firm and the ability to expand dramatically our capabilities in the
global merger, acquisition and restructuring business," said Frank
N. Newman, chairman and chief executive officer of Bankers Trust. 
"The merger also marks a major milestone in Bankers Trust's
commitment to client relationships, which will be enhanced by the
extraordinary advisory and M&A skills of our new partners.  I look
forward to the BT-Wolfensohn Group continuing the longstanding
tradition of providing top quality, objective advice to clients.

     "We are also extremely happy with the prospect that Paul
Volcker will join our Board of Directors.  His insights, wisdom and
counsel will be of great value to the firm," Mr. Newman added. 
"And we enthusiastically welcome the Wolfensohn partners,
associates and staff to Bankers Trust."

     "The changes that Frank Newman is initiating at Bankers Trust
are transformational and the opportunity for my colleagues to play
a major role in accelerating those changes is both important and
challenging," said Mr. Volcker.  "This is clearly a case of
complementary skills enhancing the opportunities and values of both
companies."

                          - more -




     Ray Golden, the current president of Wolfensohn & Co., will
become chairman of the BT-Wolfensohn Group.  Jeffrey Goldstein and
Glen Lewy, currently vice chairmen of Wolfensohn & Co., will become
vice chairmen of the BT-Wolfensohn Group, and each of the three
will be appointed to the Operating Committee of Bankers Trust.  The
six other partners of Wolfensohn & Co. will join Bankers Trust as
managing directors and members of the Partner Group.

     Wolfensohn & Co. was formed in 1981. It has ten partners and
approximately 55 professionals.  The partners, in addition to
Messrs. Volcker, Golden, Goldstein and Lewy, are Maureen A. Hayes,
Peter Nager, Stephen A. Oxman, Stuart W. Ray, Elliot K. Slade III
and H. Marshall Sonenshine.  Also, Roger Baumann, Jose Berrocal,
Thomas Kang, Monte Koch and Nami Park will become managing
directors of Bankers Trust at the consummation of the merger.

     Based on assignments completed in 1995, the combination of
Wolfensohn's and Bankers Trust's global mergers and acquisitions
businesses would have ranked seventh among global M&A advisory
firms, with transactions valued at more than $50 billion.

     The acquisition is subject to regulatory approval and is
expected to close during the third quarter of 1996.  Financial
terms of the transaction, which are not material to Bankers Trust,
were not disclosed.


                          - 30 -

For more information, contact Doug Kidd for press inquiries at 212-
250-7225 or Howard Schneider for investor inquiries at 212-250-
7908.