UBS and PaineWebber may have captured the headlines with their deal, but in the long run Ford Motor could prove to be the company that last week played the biggest role in advancing financial convergence.

Stacked up against a $10 billion merger, Ford's story is one almost devoid of glamour. However, it represented a critical shift in the source of pressure financial firms are confronting as they race to diversify their offerings and capture bigger shares of high-margin business lines.

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.