Two huge proposed bank mergers will bring together seven big investment advisory operations with a total of $223.1 billion in managed assets, but that aren't well-known among major players in the market for pension funds and other tax-exempt clients.
A merged BankAmerica and NationsBank will have a total of $140.2 billion in managed assets, including $38.9 billion for tax-exempt clients. BankAmerica has a total of $70.6 billion under management. Of NationsBank's four advisory units, TradeStreet has a total of $51.6 billion; Sovran Capital, $5 billion; Boatmen's Capital, $2.2 billion; and Barnett Capital, $10.8 billion.
A merged First Chicago NBD and Banc One will have $82.9 billion in managed assets, including $37.2 billion for tax-exempt clients. First Chicago NBD manages $52.6 billion in total and Banc One Investment Advisors, $30.3 billion.
All figures are from Jan. 1, except for Barnett's, which are from last year.
