Chase relocating 900 jobs

Article Abstract:

Chase Manhattan Corp., has announced it will relocate 900 jobs from its offices at 802 Delaware Ave. in downtown Wilmington, DE, to White Clay Center, a facility it acquired from Bank of New York Co. in Newark, DE. The move is a result of Chase Manhattan's decision to move its credit card operation during the next two years to White Clay Center, which is much larger than the Wilmington building it is leasing until December 2001. Chase, which employs around 2,200 in Delaware, has 1,100 workers at the Wilmington building, which also houses its national consumer lending and insurance operations.

Comment:

To relocate 900 jobs from building at 802 Delaware Ave in Wilmington, DE, to White Clay Center in Newark, DE

Labor force information, Facilities & equipment, Chase Manhattan Corp.

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PNC steamlines with new trust company

Article Abstract:

PNC Bank Corp., based in Pittsburgh, PA, has chartered PFPC Trust Co., a new limited-purpose trust company that will be based in Penny Hill, DE, in its effort to integrate all of its mutual fund services and streamline its business in Delaware. The move, which is not expected to affect Delaware employees, will allow PFPC Trust to provide custody and securities lending for the servicing division. With the changes, the trust company will not be required to depend on PNC Bank and three other units to provide some of its domestic and international services.

Comment:

PNC Bank charters PFPC Trust in its effort to integrate all mutual fund services & streamline business in Delaware

Parent-to-subsidiary activities, Trust, Fiduciary, and Custody Activities, Subsidiary-to-parent activities, Bank Trust Services, Trust companies, PNC Financial Services Group Inc., PFPC Trust Co.

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Christiana Bank posts record profit for third quarter

Article Abstract:

Christiana Bank & Trust Co. of Greenville, DE, posted a record profit of $92,363, for the third quarter of 1998, a 1.2% increase from the same period in 1997. Per-share earnings for the quarter were 12 cents, same with the third quarter of 1997. The record profit comes as the one-branch bank's total assets surpassed $50 million for the first time in its 4-year-old history. Assets of Christiana Bank grew 15% in the third quarter as it expanded its office space and increased the number of its commercial lenders.

Comment:

Posts a record profit of $92,363, for third quarter of 1998, a 1.2% increase from the same period in 1997

Sales, profits & dividends, Christiana Bank and Trust Co.

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