COMMERZBANK TO FOUND NEW YORK INVESTMENT BANK
Commerzbank AG <CBKG.F> management
board chairman Walter Seipp said he hoped the bank would this
year found a 100 pct investment bank subsidiary in New York.
    He told the annual news conference that the move would be
an important and necessary widening of business activities in
the U.S.. This is now mainly represented by a 40 pct stake in
EuroPartners Securities Corp, New York, owned along with other
European banks in a consortium.
    It would also be a further step in Commerzbank's full entry
into global investment banking around the clock.
    Seipp also said securities trading activities had been
considerably strengthened in London. The founding of Commerz
Securities (Japan) Co. Ltd, which would begin business in the
first half of 1987, widened the bank's activity in Tokyo.
    In 1987 also, Commerzbank planned to open a representative
office in Istanbul. Currency trading had begun in the Los
Angeles branch, he added.
    At home, Commerzbank would probably bring the automotive
supply group Boge and clothing manufacturer Ahlers to a stock
exchange flotation in the first half of this year.
    But the placement of shares in the print communications
technology group <Linotype GmbH>, to be bought from Allied
Signal Inc <ALD.N> would likely come later since several parts
of the business had to be consolidated first.
    Seipp said the purchase price had been "several hundred
million dollars." But he gave no further details.
 Reuter
