NationsBank Corp.'s consolidation with Boatmen's Bancshares continued this week as the president of the combined asset management division, Owen G. "Bob" Shell Jr., announced the formation of three new entities.

The private client portfolio management division, which has approximately $50 billion under management, has been tentatively dubbed "NewCo." A spokeswoman for Charlotte-based NationsBank said could not say what the unit's name would be in the future, because the banks are still awaiting regulatory approval for their merger.

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