First Chicago & NBD Bancorp Announce Merger For Q1 1996
BANKS
First Chicago and Detroit-based NBD Bancorp will merge their operations, probably by the first quarter of 1996, officials announced last Wednesday. The new name of the combined bank will be First Chicago NBD Corporation with its head office in Chicago.
Both banks have foreign exchange trading operations; however, First Chicago's room is likely to dominate since NBD is a regional bank, while First Chicago's name is known globally. In 1994, First Chicago reported $42 million in revenues from FX
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