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Article: TAKING THE WELLS FARGO STAGE.(First Security Corp. of Salt Lake City, Utah)
- Article from:
- Utah Business
- Article date:
- June 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 Olympus Publishing Co. 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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An Interview with Spence Eccles & Scott Nelson
Spencer Eccles
Spencer Eccles did not set out to see his family's 73-year regional banking legacy absorbed by the huge Wells Fargo & Co. conglomerate. After spending 41 years at the bank his pioneering uncles founded -- 18 years as its CEO -- he hoped to at least keep the First Security name intact.
But when shareholders of cross-town rival Zions Bancorp spurned the "merger of equals" painstakingly negotiated from June 1999 to April 2000, Eccles called his old tennis buddy, Wells Fargo CEO Dick Kovacevich.
"I dreamed about the continuation of First Security's name and having a ...