SEC PAC And Wells Fargo To Merge? No Shakeout Expected In FX Units
BANKS
According to sources at Security Pacific National Bank, officials at Sec Pac and Wells Fargo & Co. are nearing an agreement to merge, possibly as early as this month. If the merger does materialize, sources at both banks believe there will be little, if any cuts in its foreign exchange divisions.
Although officials at both banks refused to comment on the talk, many believe that the union of California's second and third largest banks would greatly improve their ability to compete and improve
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