FleetBoston was the seventh-largest bank in the United States, as measured by assets ( US$ 197 billion in 2003). It had almost 50,000 employees, over 20 million customers worldwide and revenues of $12 billion per year. The banking subsidiary operated under the Fleet name, but used BankBoston's stylized eagle logo.
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FleetBoston Financial Corporation Address: One Federal Street Boston, Massachusetts 02110-2010 U.S.A. Telephone: (617) 346-4000 Fax: (617) 434-6943 http://www.fleetbankbostonmerger.com Statistics: Public Company Incorporated: 1791 as Providence Bank Employees: 59,200 Total Assets: $190.69 billion (1999) Stock Exchanges: New York Ticker Symbol: FLT
FleetBoston Financial was a Boston, Massachusetts–based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and...
FleetBoston Financial Corporation One Federal Street Boston, Massachusetts 02110-2010 U.S.A. Telephone: (617) 346-4000 Fax: (617) 434-6943 Web site: http://www.fleetbankbostonmerger.com Public Company Incorporated: 1791 as Providence Bank Employees: 59,200 Total Assets: $190.69 billion (1999) Stock Exchanges: New York Ticker Symbol: FLT
Provider of investment and banking services. The company offers facilities such as mortgage, refinance, home equity, business loans and online banking services. Contact Information Website www.fleetbank.com Formerly Known As FleetBank, Fleet/Norstar Financial Group, Fleet Financial Group, Providence Bank Ownership Status Acquired/Merged
Bank of America's acquisition of FleetBoston for $48 billion in stock was the third largest banking merger in history and will create a mega-bank that will span the country.
FleetBoston Financial Corporation announced today that it will change its ticker symbol on the New York Stock Exchange to FBF from FLT, effective at the close of business Friday, November 19, 1999. Trading under the new symbol will begin when the exchange opens on Monday, November 22, 1999. The change reflects the union of two preeminent financial institutions, Fleet Financial Group and BankBoston Corporation, whose merger was completed on October 1, 1999.
Boston-based Fleet Bank (originally Providence Bank, founded in Rhode Island in 1791) acquired BankBoston in 1999, on the heels of acquiring Shawmut Bank just a few years earlier. Fleet now dominated the New England market, yet saw the value in maintaining the old Bank of Boston brand in Latin America.
As the ninth largest bank holding company in the United States in 2000, FleetBoston Financial Corp. provided a myriad of financial services, including retail banking, loan origination, and brokerage accounts. This case explores how FleetBoston responded to the Internet and the rise of new competition from both within and outside the banking industry.