Fleet To Acquire Natwest Operations

Less than a month after concluding a $3.45 billion merger that cemented its position as New England’s largest bank, Fleet Financial Group on Tuesday scooped up the U.S. operations of Britain’s National Westminister Bank for $3.26 billion.

The deal marks Fleet’s first foray into New Jersey’s lucrative banking market and strengthens its position in several commuter areas around metropolitan New York. It comes on the heels of Fleet’s acquisition of Boston-based Shawmut National Corp., which closed in November.