The transaction creates the nation’s 8th largest bank with assets of approximately $180 billion. Under the terms of the agreement, BankBoston shareholders will receive 1.1844 shares of Fleet for each BankBoston share they own. Terrence Murray, currently chairman and chief executive officer of Fleet, will become Fleet Boston Corporation’s Chairman and Chief Executive Officer, and Chad Gifford, currently BankBoston’s Chairman and Chief Executive, will serve as President and Chief Operating Officer of the new entity. Robert J. Higgins, Fleet’s President and Chief Operating Officer, and Henrique C. Meirelles, BankBoston’s President and Chief Operating Officer, will manage the new corporation’s businesses.
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.