| Preserving
the Legacy
by Kenneth Cline
— Frank V. Cahouet built one of the industry's most
diversified earnings streams at Mellon Bank Corp. But
the bank's independence remains in doubt until he settles
the succession issue.
Prevailing
In Payments
by Neal Chambliss and David
Taylor — A new BAI/PSI
study documents the rising challenges to banking dominance
of the $190 billion payments industry. Banks still have
time to claim their place in the new digital world, but
strategies must be formulated today.
Shifting
Gears
The pace of large bank-on-bank deals slowed this year,
even as bank buyouts of securities firms roared into overdrive.
But Goldman Sachs' J. Christopher Flowers expects the
mega-deals to return.
Piecing the
Payments Puzzle
As nonbank technology companies muscle into the electronic
end of the payments industry, banks must form alliances
to maintain control of this critical infrastructure, says
Price Waterhouse consultant Gary Meshell.
Dealing From
Strength
1997 is shaping up as a strong year for acquisitions as
the consolidation express rumbles on. A booming stock
market keeps acquirer valuations high, propelling bank
purchases of brokerage firms, finance companies, thrifts
and other banks.
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