8-K

 
                      SECURITIES AND EXCHANGE COMMISSION

                            Washington, D.C. 20549

                                   F0RM 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) March 18, 1999


                           BANKERS TRUST 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.)


 130 LIBERTY STREET, NEW YORK, NEW YORK             10006
 --------------------------------------------    ---------
(Address of principal executive offices)         (Zip code)

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

 
Item 5. OTHER EVENTS
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     (a) On March 18, 1999, the Registrant and Deutsche Bank A.G. announced that
a decision had been made to sell BT Funds Management, the asset management arm 
of the Registrant in Australia. This Current Report on Form 8-K files the press 
release containing the announcement which contains certain information to be
incorporated into currently effective registration statements filed by the
Registrant with the Securities and Exchange Commission under the Securities Act
of 1933, as amended.

 
Item 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

         (c) Exhibits

        (99.1)   Press Release of the Registrant dated March 18, 1999.


 
     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 thereunto duly authorized.


                                        BANKERS TRUST CORPORATION

                                        By: /s/ James T. Byrne, Jr.
                                                James T. Byrne, Jr.
                                                Senior Vice President
                                                ----------------------

Date:  March 19, 1999

 
                           BANKERS TRUST CORPORATION
                         FORM 8-K DATED MARCH 18, 1999
                                 EXHIBIT INDEX
Exhibit
Number            Description of Exhibit

 (99.1)    Press Release of the Registrant dated March 18, 1999.

This report contains forward looking statements which are subject to certain
risks and uncertainties. These risks and uncertainties could cause actual
results to differ materially from the current statements. See also "Important
Factors Relating to Forward Looking Statements" contained in the Corporation's
Annual Report.

EX-99.1

 
                                                                    Exhibit 99.1

PRESS RELEASE

BANKERS TRUST                                          DEUTSCHE BANK [LOGO]


                          Frankfurt am Main, New York and Sydney, March 18, 1999


Deutsche Bank and Bankers Trust to sell BT Asset Management activities in 
Australia and New Zealand


Deutsche Bank AG and Bankers Trust Corporation today announced that a decision 
has been made to sell BT Fund Management (BTFM), the asset management arm of 
Bankers Trust in Australia.

Earlier this year it was announced that Deutsche Bank would not integrate BTFM 
Australia into its global asset management business but planned to maintain it 
as a separate entity preserving its strong brand name and distinct investment 
style and process. By contrast Deutsche Bank is well advanced in its plans to 
integrate Bankers Trust's significant asset management businesses in the US and 
Japan with its own asset management businesses in those countries which will 
establish sizeable platforms for future growth.

As a result of an ongoing strategy review within Deutsche Bank and Bankers Trust
regarding the global strategic positioning of the combined entity and in 
consideration of the overlaps with Deutsche Bank's existing business in 
Australia and the combined market position of the two businesses, a decision has
been made to sell BTFM, the market leader in the retail mutual funds business 
and number two in institutional fund management.

The planned sale marks a further step in the integration process of Deutsche 
Bank and Bankers Trust. The sale will not be closed before completion of the 
Deutsche Bank / Bankers Trust merger.

BTFM is the second largest institutional funds manager and the largest retail 
mutual



Issued by the Press Department of Deutsche Bank AG
60262 Frankfurt/Main, Germany                        
Taunusanlage 12, 60325 Frankfurt/Main, Germany

                                       Internet: http://www.deutsche-bank.de
                                       http://www.deutsche-bank.de/presse


Press Release                       Page 2                               [LOGO]

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fund (unit trust) manager in Australia with a market share of approximately 8.5%
and strong investment management capabilities. BTFM had assets under management 
of approx. USD 26 billion at the end of 1998, spread roughly equally between 
wholesale clients and retail clients. BTFM offers a full range of "actively 
managed" products, including Australian and international equities, emerging 
market equities, Australian and global fixed income, currency management, as 
well as asset allocation and property. The business also includes BT Portfolio 
Services, BT Margin Lending and the New Zealand funds management operations.

Last month it was announced that Bankers Trust's Australian investment bank is 
to be sold in its entirety. That sale process is continuing. The sales process 
for the divestment of both the businesses will be conducted as expeditiously as 
possible.

After the sale of BTFM Australia the combined Deutsche Bank / Bankers Trust will
have assets under management of approx. USD 670 billion with a strong presence 
in the US, Europe and Asia/Pacific, placing the Group number four worldwide in 
terms of funds under management.