Bank of America Corp. completed its $48.8 billion purchase of FleetBoston Financial Corp. on Thursday, temporarily creating the nation’s second largest banking power with just shy of $1 trillion in assets.
The blockbuster merger, first announced in October, will bring an end to the Fleet name in the Northeast, including in Western New York, where Fleet operates 35 branches in the Buffalo area.
Besides the branches, the two banks have 650 employees at a credit card and consumer loan collections center in West Seneca and 800 at a mortgage servicing center in Amherst’s CrossPoint Business Park.
Iglewski said officials don’t expect any changes at the mortgage center, which just added 300 jobs a from Louisville, Ky., a few months ago. But he said it wasn’t clear what business lines or how many jobs will remain in West Seneca.
“It’s unclear how that will look after it all shakes out, but we don’t expect any significant loss of jobs,” he said. “We anticipate the center to be fully staffed or close to it.”
For this complete story, please visit Collection Centers Nervous About Bank of America-Fleet Merger.
