Business Services Industry

Dallas Has Room for Both Titans in Banks' Merger As They Carve Separate Roles.

Knight Ridder/Tribune Business News, June, 2004

By Ieva M. Augstums, The Dallas Morning News Knight Ridder/Tribune Business News

Jun. 12--The financial world snapped to attention when J.P. Morgan Chase & Co. and Bank One Corp. announced their plans for a $58.8 billion merger in January.

The deal would vault the larger Chase back into the No. 2 position in the U.S. banking market, just a few weeks after it dropped to No. 3 because of the Bank of America-FleetBoston merger.

Banking circles in New York and Chicago buzzed with talk about the fallout in Chase's and Bank One's respective hometowns.

And in Dallas, eyes turned to two of downtown's tallest towers.

In a Texas market dominated by out-of-state banks, Chase's Elaine Agather and Bank One's Norm Bagwell are the...

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