EUGENE MCQUADE, THE NEW CHIEF financial officer of Fleet Financial Group, has accepted an assignment that could easily turn him into a pariah among his peers.

He is the point man for "Fleet Focus 1994," a "reengineering" designed to help reduce Fleet's efficiency ratio from 67% to 60%. Translation: He will be responsible for across-the-board layoffs at New England's biggest banking company once the seven-month review period is over.

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