Banc One Exec to Run BT's International Private Bank
Fraser, Katherine, American Banker
Bankers Trust New York Corp. has tapped one of the highest-ranking woman in banking to oversee its international private banking operation.
On Tuesday, Bankers Trust announced that Karen N. Horn, chairman of Banc One Corp.'s Cleveland bank, would be coming aboard Oct. 1 as managing director and deputy head of private banking.
In hiring Ms. Horn, the $114 billion-asset New York banking company is gaining an executive with broad experience as a federal regulator as well as a banker.
Before assuming the chairmanship of Bank One Cleveland in 1987, Ms. Horn served for five years as president of the Federal Reserve Bank of Cleveland. During that time, she was also a member of the Federal Open Market Committee.
Ms. Horn is also a director of British Petroleum PLC, Eli Lilly & Co., Rubbermaid Inc., and TRW Inc. as well as being a trustee of the Rockefeller Foundation. In addition, she is a director of the U.S. Russia Investment Fund.
"It's hard to ignore someone with her background and connections," said Richard A. Marin, Bankers Trust's managing director and the head of both international and domestic private banking.
In her new post Ms. Horn will report to Mr. Marin. She is "a person who moves very well in the kind of circles - global, high net worth, and investments - that we need to travel in," he said.
Columbus, Ohio-based Banc One Corp. has made no formal announcement of Ms. Horn's departure. David Stith, chief executive of the Cleveland bank, will succeed her Sept. …