BANKING

Bankers Trust Chairman to Retire: The company, which has been stung by problems in its derivatives business, said Chairman Charles Sanford plans to retire next year when he turns 60. Profit at Bankers Trust New York Corp., the nation’s seventh-largest bank, has been hurt by problems in derivatives, volatile investments whose value is based on an underlying asset such as a stock or bond. But a bank spokesman said Sanford’s departure is unrelated to those troubles, and that he had long planned to retire by age 60. Sanford said he will work with the board to pick a successor, but the spokesman said President Eugene Shanks is a strong candidate.