SAN FRANCISCO -- Bank-America Corp. said Monday that it had completed on time the integration of Security Pacific Corp.'s wholesale banking business.
BankAmerica said it had treated each of more than 7,000 Security Pacific customers as new business. Those customers used more than 50,000 wholesale products.
The banks merged April 22. Richard T. Griffith, group executive vice president and head of wholesale operations, said such wholesale consolidations - which conventionally use a product-by-product approach - typically take 18 to 36 months.
Wholesale operations include credit services, cash management and payment products, trade finance, deposit services, foreign exchange, and securities.