Meanwhile, Pittsburgh-based PNC Financial Services group acquired Cleveland-based rival National City Corp. for $3.91 billion. Bank of America, also based here, is now the largest US bank by assets, which number $2.7 trillion, according the Wall Street Journal. All three acquirers are expected to have layoffs, with Bank of America alone letting go of 35,000 over the next three years.
To read the full Journal article, click here.
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
