PHILADELPHIA -- In a letter to employees Friday, top management at Corestates Financial Corp. announced a "corporatewide review and redesign process" that includes a hiring freeze.

The $23.6 billion-asset bank, which last month reorganized management and announced a plan to unify its banks under a single New Jersey charter, has called on the consulting firm Aston Limited Partners to study "activities that do not contribute value for customers."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.