Perhaps no other person has been more closely identified with cost- cutting at banks in this decade than reengineering maven Chandrika Tandon.

Wall Street has generally cheered when her consulting firm, Tandon Capital Associates, is hired by banks to trim fat and improve efficiency. During the 1990s, the 41-year-old consultant worked shoulder-to-shoulder with chief executives at six major banks and helped them shed more than $680 million of expenses. Together, these major reengineering projects led to the elimination of more than 13,000 banking jobs - nearly 1% of total industry employment.

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