BankBoston/Fleet Merger To Create New England Player

BANKS

BOSTON-- New England's future as an FX trading centre looked secure last week with the announcement of a link-up between Fleet Financial Services and BankBoston.

Assuming the proposed merger receives regulatory approval, the $16 billion deal will create the eighth largest bank in the US, to be known as FleetBoston Corporation.

With around $178 billion in assets, it will be around one third of the size of New York-based industry giants such as CitiGroup and Chase Manhattan Bank.

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