BANKS' EXECUTIVES TOUT DEAL; NEW PARTNERS VISIT BOFA OFFICES IN L.A.Byline: Deborah Adamson Daily News Staff Writer Bracing against a stiff wind, in the shadow of the Citibank building - a bank that announced its own merger last week - the CEOs of BankAmerica and NationsBank were all smiles Tuesday about their recently announced merger. ``We're going to be America's bank,'' said NationsBank CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Hugh McColl Hugh McColl (born June 18, 1935) is an American banker who was a driving force behind the consolidation that characterizes the commercial banking industry today. He was born and raised in Bennettsville, S.C., and graduated from the University of North Carolina at Chapel Hill. , as he stood outside Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. offices during a news conference in downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or . Next to him, BankAmerica CEO David Coulter added: ``It took us 60 years to make it happen,'' alluding to the company's longtime goal to become a national bank. On Monday, BankAmerica Corp. and NationsBank announced plans to merge, creating the nation's largest bank with $570 billion in assets. The combined company will become the first coast-to-coast bank, retaining the BankAmerica name. BankAmerica headquarters will move to Charlotte, N.C., the home of NationsBank, although the company's corporate finance and global banking operations will be run from BankAmerica's San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden headquarters. McColl will become CEO of the new company and Coulter will be president. The two CEOs came to Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. on Tuesday to meet with Bank of America employees. Perhaps in an attempt to reassure workers and present a warmer image to the public, the two corporate executives went inside the branch to greet and shake hands with workers and clients as TV crews followed them around. During their short news conference, rah-rah statements about both banks were greeted with applause and cheers by employees. Although the number of jobs forecast to be lost is sobering - 6,000 to 8,000 nationwide - Southern California won't bear the brunt of it, since both banks' headquarters are out of town and they don't have overlapping branches in Los Angeles, the executives said. |
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