NationsBank Corp.'s planned acquisition of Boatmen's Bancshares would create the country's third-largest bank mutual fund complex, with a geographic reach rivaling some national fund brands'.

After completing the Boatmen's deal, NationsBank would boast a trust and asset management division with $111 billion of assets under discretionary management, making its the sixth-largest bank-owned asset management business in North America. The merged banks would have more than $23 billion of proprietary mutual fund assets, pushing ahead of Wells Fargo & Co. and trailing only Pittsburgh-based giants PNC Bank Corp. and Mellon Bank Corp.

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