LOS ANGELES COUNTY - News from Jan. 6, 1989

* Steve L. Chen, an executive with Bank of America for more than 20 years, has left to become senior vice president in charge of the Asian private banking operation for American Express Bank International. Chen, 54, joined B of A’s Taipei branch in 1965 and most recently managed business development with the U.S. affiliates of Asian and European businesses out of the bank’s Los Angeles corporate office. American Express Bank, which has its Western headquarters in Beverly Hills, caters to wealthy foreigners, an area of growing bank competition in California. Earlier, the bank hired the private banking staff of B of A’s San Diego office.