BankBoston announces restructure will not impact Connector
With the consequent closure during 1998 of their offices in Paris where they have 170 customers, and Frankfurt where they have 280 customers, Bank of Boston are to centralise their European operation into London. They emphasise that the impact on their customers will be minimal as they can offer a seamless service from London. BankBoston in Europe will be expanding their private equity and capital market activities. The closures will have no impact on the bank’s participation in the Connector partnership, a partnership of banks which provide local and pan-European cash management services to customers.