Fleet Financial Group's planned merger with Shawmut National Corp. should hit home quickly in two key business lines: investment products and mortgage banking.

Some of the two companies' investments businesses - including mutual funds - are likely to benefit by getting bigger. But trust and private banking could suffer from staff cuts and other management changes, experts said.

Meanwhile, the deal should make Fleet the nation's second-largest mortgage servicer, up from No. 4, and markedly boost the company's mortgage lending in New England. "They are going to be a huge factor," says one Massachusetts rival.

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