Rising technology costs will prompt a new wave of megamergers among financial services companies in coming years, an industry consultant says.

Mark Sievewright, president and chief executive officer of TowerGroup in Needham, Mass., said during a telephone forum last week that the five leading financial companies in the United States, which were created from mergers during 1998 and 1999, are four times as big as the top five a decade earlier. This pattern will persist in the next 10 years, he said, and at a rapid pace in the next five years.

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