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WEDNESDAY, NOVEMBER 25, 2009
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PREMIUM NEWS ARCHIVE

A brand new name, leadership for LaSalle; Bank of America chief shares takeover details

Article from: Chicago Sun-Times Article date: April 24, 2007 Author: Sandra Guy

Lasalle Bank's buyout by Bank of America will make it the no. 1 bank in Chicago, surpassing JPMorgan Chase, but the cost will be layoffs and the loss of another Chicago name.

Job cuts will hit LaSalle's headquarters hardest, with management, call centers, information technology and legal, finance and compliance departments taking the brunt, Bank of America Chairman Ken Lewis said in an interview with the Sun-Times editorial board.

The job cuts will take place within 12 months as LaSalle's name is replaced by Bank of America at bank branches ...

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