FleetBoston Financial Corp. resolved one of its last merger-related issues this week when it announced it would spin off Fleet Equity Partners, one of its two venture capital units.

It was perhaps one of the more obvious branding decisions the combined bank has made since Fleet Financial Group and BankBoston Corp. merged last year. Fleet Equity Partners is the smaller, younger, more independent private equity business - a partnership controlled by FleetBoston and the firm's management. BancBoston Capital is a global, more established firm, and is tightly woven into the fabric of its parent bank, on which it relies for client leads and direct investment capital.

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