Bankers Trust Puts 401k Business Up For Sale After Database Upgrade Falls Short
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Bankers Trust New York Corp.'s plans to sell its 401 k unit are the result of an incomplete overhaul of its huge databases and the New York bank's inability to earn a decent return in the retirement plan business after spending heavily to upgrade its technology.
In the past few years, the bank embarked upon a plan to unify a mix of client/server and mainframe databases supporting its defined benefit and defined contribution retirement plan clients, according to a person familiar with the
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