First Union Takes Upper Hand In May Merger With CoreStates
BANKS
CHARLOTTE--First Union National Bank of North Carolina is taking the upper hand for the top jobs in its merger with Philadelphia-based CoreStates Bank, which was finalized on April 26. The two banks will officially come together on May 18 under the First Union brand name.
The merger will strengthen the East Coast partners' global reach, with combined operations in the US, London and Hong Kong, but is unlikely to catapult the new bank into the league of major FX providers, say US industry
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