How Bank-Insurance Unions Have Evolved
By Karen Shaw Petrou
Will Roger Ferguson prove Sandy Weill was right? Pretty much every merger of insurance and banking institutions since Weill in the ’90s helped create Citigroup— out of the merger of Citibank and Travelers — has come undone for a host of reasons. But the 2016 rulebook is different. Today’s market developments, including unprecedented low interest rates, create a wholly different strategic landscape than the one that doomed prior consolidations of insurers and bank holding companies. As a result, some new-style deals — like the just-announced merger of Ferguson’sTIAA with EverBank— make a lot of forward-looking sense not just for shareholders, but also customers.
http://www.americanbanker.com/bankthink/how-bank-insurance-unions-have-evolved-1090785-1.html
