Articles > Popular publications > The Boston Globe (Boston, MA) news wires > December 1995

Article: Fleet buys NatWest Bank for $3.26b CEO Murray expands horizon down East Coast

Article from:
The Boston Globe (Boston, MA)
Article date:
December 20, 1995
Author:
Copyright

Fleet Financial Group Inc.'s chief executive had more in mind than New England when he struck a deal to buy NatWest Bank for $3.26 billion.

Much has been made of Fleet's rivalry with Bank of Boston Corp., its takeover of Shawmut National Corp. and its headquarters relocation from Providence to Boston.

But the NatWest deal, announced yesterday as expected, is a significant break with chief executive Terrence Murray's pattern in the 1990s of buying banks exclusively inside the region. NatWest pushes Fleet's franchise down the East Coast to New Jersey. And it signals Murray's horizon has expanded, possibly nationally.

"I think we're done with New England," said Murray, playing down plans for ...

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