When I wrote recently that major banks have lost interest in correspondent banking-which used to be the glue holding banks of all sizes together-a number of correspondent people contacted me to say their banks were still alive and well in the field.
No bank was more vehement than Chase Manhattan Corp. This is understandable. Firstly, I had mentioned Chase specifically as an institution whose correspondent head did not seem to care about telling its story to community bankers. Secondly, among the banks that merged over the years into what is now Chase was Manufacturers Hanover, which made a hero of any officer who brought in a new correspondent account.