Boston-based Fleet Financial Group Inc. has set up a corporate finance group and hired three Citicorp executives to run it.
Heading up the new unit is Tim Conway, a 40-year-old former managing director from Citicorp, who has been named managing director for corporate finance at Fleet.
He is being joined by Scott Porier, 31, a former investment relationship manager in Citicorp's private placement division, who has been named vice president for corporate finance.
Paul Trefry, 33, a former senior vice president in Citicorp's structured finance division, has also been named managing director at Fleet.
The three will report to Robert Higgins, vice chairman at Fleet.
Fleet, an active middle-market lender in the Northeast, previously did not have a separate corporate finance division.
The new unit is the latest to be created following Fleet's acquisition of Shawmut National Corp. and pending acquisition of $30 billion-asset National Westminster Bancorp.
The acquisitions have built Fleet into a $114 billion institution engaged in a broader range of activities. The bank is integrating its retail and corporate banking units with those of Shawmut and National Westminster.
Earlier this month, Fleet set up a separate trade finance unit that will incorporate similar operations at both Shawmut and National Westminster.
The bank also struck an outsourcing deal with Standard Chartered Bank to process trade finance-related documents in Asia.
