Buoyed by its acquisition of First Fidelity Corp., First Union Corp. is making a play for the hotly competitive Northeast trust market by actively managing investments for charities.

The Charlotte, N.C.-based banking giant recently appointed a onetime First Fidelity trust executive to oversee its business with charities in the Northeast. In addition to looking to manage large pools of assets for these groups, Eileen M. Wilhem plans to network with the prominent individuals found on their boards with an eye towards building First Union's personal-trust business.

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