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Article: NationsBank to buy CRT, big Chicago options firm. (Chicago Research and Trading Group Ltd.)
- Article from:
- American Banker
- Article date:
- March 18, 1993
- Author:
CopyrightCOPYRIGHT 1993 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO - NationsBank Corp. paused from its bank acquisition spree on Wednesday to announce that it will pay $225 million in cash to buy Chicago Research and Trading Group Ltd., a prominent trading firm in options, swaps, and other financial derivatives.
The North Carolina-based banking company, the nation's fourth largest, said it is chiefly interested in wiling CRT's risk-management expertise to corporate clients. But NationsBank chairman Hugh L. McColl said CRT also will help manage the bank's $25 bilhon investment securities portfolio.
Bond Expertise a Plus
NationsBank owns one of the country's largest bond portfolios, and CRT - through ...