FleetBoston Financial Corp.’s commercial financial-services arm is focused on building sustainable growth while increasing market share and becoming the lead provider of financial services to current clients, Norman DeLuca, head of the Boston bank’s business financial- services group, said yesterday.
“Cross-sell for us, like everyone else, is imperative,” DeLuca said at a Financial Services Analysts Association conference in Newport, R.I., which was also Web cast. He added that revenue from cross-selling products to clients is an “important anchor of its business model going forward” and that “opportunity is grounded” in understanding its clients’ needs.
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Commercial financial services includes two major segments: regional commercial clients, which targets small businesses and companies with $2 million to about $ 500 million in annual sales, and national commercial clients, which involves clients with a “few hundred million” to $2 billion in annual revenue, DeLuca said.
