Michael McCaffery, chief executive officer of BancBoston Robertson Stephens, delivered a pep talk to his staff Monday morning about the advantages its parent's planned merger with Fleet Financial Group would bring to the firm.

Chief among them: an affiliation with Quick & Reilly, the nation's third-largest discount brokerage, bought by Fleet for $1.6 billion in 1997.

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.