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ROSENBERG OF BANKAMERICA CORP., BANK OF AMERICA NT & SA TO ADDRESS L.A. WORLD AFFAIRS COUNCIL AND TOWN HALL OF CALIFORNIA

ROSENBERG OF BANKAMERICA CORP., BANK OF AMERICA NT & SA TO ADDRESS
 L.A. WORLD AFFAIRS COUNCIL AND TOWN HALL OF CALIFORNIA
 Richard M. Rosenberg, chairman and chief executive officer, BankAmerica Corp. and Bank of America NT & SA, will address a joint meeting of the Los Angeles World Affairs Council and Town Hall of California.
 The topic of Rosenberg's address will be: "What's New in the Exciting World of Banking?"
 The program will be held on Tuesday, Jan. 14, 1992 at noon in the Grand Ballroom of the Sheraton Grande at 333 South Figueroa St. Rosenberg will speak at 12:45 p.m. following lunch.
 All members of the press are invited to cover the program. Call Frances Brohan at 213-628-2333 if planning to attend.
 Background
 The pending merger of Bank of America and Security Pacific creates a formidable challenge for the B of A chief who is poised to assume the helm of this banking giant -- the nation's second largest banking company. The largest in banking history, this merger will form a western U.S. banking group with a global reach and $190 billion in assets.
 Last August, the surprise announcement of the merger shook the financial community which is bracing for this megamerger that promises to reshape the face of financing in California and other western states.
 Though the merger should have no immediate effect on the consumer, eventually customers will see changes in the fees they pay, in interest rates on deposits, and in the location of their banks. Hundreds of branches are expected to close and as many as 20,000 workers could be laid off. This consolidation will reduce costs by $1 billion annually in three years.
 Rosenberg, as the leader of this superbank, is known for a high energy level, lively sense of humor and a savvy marketing perception. This extraordinarily intelligent executive aims to reduce overcapacity and redundancy in the banking industry as well as to combat restricted competition by excessive legislation.
 Rosenberg's timely remarks will shed light on this soon to be consummated merger.
 The Los Angeles World Affairs Council is one of the nation's leading forums for the discussion of world affairs. More than 40 major figures in foreign policy, business, economics, religion, science and culture address the council each year. The non-profit, non-partisan council is supported entirely by membership contributions from its 9,000 members.
 CONTACT: Frances Brohan of Los Angeles World Affairs Council, 213-628-2333.
 -0- 1/9/92


CO: Los Angeles World Affairs Council ST: California IN: SU:

AL-KJ -- LA027 -- 8324 01/09/92 15:06 EST
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Publication:PR Newswire
Date:Jan 9, 1992
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