FleetBoston helps it to plug a gap in its network, not to close duplicate branches.
FleetBoston did a strategic about-turn last year, when it decided to focus on retail banking.
But Bank of America, FleetBoston Financial, First Union, Bank One and Wells Fargo all have big venture-capital operations.
In 1998 his firm merged with Fleet Financial Group, now FleetBoston Financial Corp.
It has prompted speculation about further acquisitions, perhaps by Citigroup or Wachovia, which had also held talks with FleetBoston.
Similarly, the directors of FleetBoston's fund subsidiary, Columbia Advisors, have not asked for the parent bank's resignation as fund manager.
FleetBoston Financial 's (nyse: FBF - news - people ) specialist unit confirms it is under investigation.
FleetBoston, CSX Corporation, Aetna, Union Pacific Railroad, RJ Reynolds Tobacco and Lehman Brothers were among the companies named in the case.
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This year Robertson Stephens , formerly part of FleetBoston (nyse: FBF - news - people ), closed shop.
Mutterperl, the former general counsel and executive vice president at FleetBoston Financial (nyse: FBF - news - people ).
Of the major issuers, MBNA America, Capital One, FleetBoston and Wachovia don't impose fees, and most community banks and cooperatives don't either.
Another bank that is having trouble living up to earlier expectations is FleetBoston Financial (nyse: FBF - news - people ).
Another big British bank, Royal Bank of Scotland, has a foothold in American retail banking through Citizens Bank, the biggest bank in New England after FleetBoston.
This deal has implications beyond Bank of America and FleetBoston.
Inherited from the 2004 acquisition of FleetBoston Financial, Bank of America Specialist Inc. is the third-largest market maker on the exchange, representing 429 stocks and 17.7% of the share volume.
Michael Mayo, until recently the top banking analyst for Credit Suisse First Boston, thinks that leveraged lending has been responsible for the recent increase in bad or problematic loans at a raft of American banks, including Bank of America, FleetBoston Financial, Bank One and Wachovia.
He secured a 42% premium to FleetBoston's current share price (the mark-up is usually 20-30%), and this for a bank that has had to recover from a string of strategic mistakes: FleetBoston is now focusing on consumer finance after losing a packet in more exotic businesses, such as Latin American debt and dotcom venture capital.
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