Wednesday, May 30, 2007

Name this bank

One of the major international business stories is the upcoming sale of LaSalle Bank, a longtime Chicago institution.

The LaSalle Bank, part of the Dutch ABN Amro financial group, owns the Chicago Marathon.

Great Britain-based Barclays PLC wants to buy ABN Amro, but part of the deal is that LaSalle is to be split off and sold to Bank of America. But the Royal Bank of Scotland, known in the USA as RBS, has initiated a hostile take over of ABN Amro--including LaSalle Bank--and the Chicago Marathon.

Meanwhile, the Morton Grove branch of LaSalle pictured here sits quietly--awaiting new signage once the deal is settled. And that might not be until July, since the Dutch Supreme Court will rule on whether ABN Amro shareholder can vote on the RBS bid.

And as I do every year, I'll be entered in the LaSalle Bank Chicago Marathon. If RBS wins out, my guess is the LaSalle name will stick--with an RBS prefix.

Related post:

LaSalle Bank, owner of the Chicago Marathon, being sold to Bank of America

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