One year ago, banking behemoths NationsBank and Bank of America announcedthey would merge in a $61 billion deal creating the largest bank in thecountry. It was news that caused hand-wringing among the handful of BayArea firms that had served as outside counsel for San Francisco-basedBofA, as well as among BofA attorneys who wondered whether they shouldbegin house hunting in Charlotte, N.C., where the merged company wouldbe headquartered.

The merger took place Sept. 30, sending shock waves not only throughthe legal community but through all of San Francisco, where BofAemployed 9,500 people, including about 80 in its legal department.BankAmerica Corp., as the merged entity is known, has since revealedplans to cut 5,000 to 8,000 of the merged company’s 180,000 positionsover the next two to three years.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]