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The pending sale of LaSalle Bank to Bank of America looks like a “shrewd move” to global treasury consultant Jeff Wallace, managing director of Greenwich Treasury Advisors LLC, Boulder, Colo. If the announced sale goes through (it was being challenged at press time), it gives BofA a stronger foothold in the Midwest, a larger portfolio of middle-market clients and a dominant position in the Chicago lockbox market, he notes. But it could disrupt operations for companies that relied on LaSalle for domestic cash management and ABN AMRO for global cash management once that connection is severed, he explains. It probably means unemployment for the shared ABN/LaSalle staff in Chicago that handled global activity, he adds.

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