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Article: Fleet be nimble, Fleet be quick: bank's acquisition of brokerage seems a wise investment for both. (Fleet Financial Group Inc; Quick and Reilly Group Inc)
- Article from:
- Crain's New York Business
- Article date:
- February 9, 1998
- Author:
CopyrightCOPYRIGHT 1998 Crain Communications, 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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Fleet Financial Group Inc. and Quick & Reilly Group Inc. are downright buoyant about their new partnership. Fleet's acquisition of Quick & Reilly closed Feb. 1, and both companies expect to reap immediate rewards.
Thomas C. Quick, president of the Manhattan discount broker with 1.2 million accounts, says he anticipates adding as many as 200,000 Fleet retail banking clients to the firm's existing customer base.
Boston-based Fleet envisions Quick & Reilly customers as a new market for its Galaxy mutual fund family. Fleet's standing as a retirement plan sponsor has also been strengthened by the acquisition, according to Fleet Vice Chairman Gunnar Overstrom, as ...