Fleet: Turning on a Dollar - ' FleetBoston Base Case '

FleetBoston Financial Corp. Base Case

Headquarters: 100 Federal Street, Boston, MA 02110

Phone: (617) 434-2200

Business: Diversified financial services, including commercial and retail banking

Chief Information Officer: John Snyder, CIO, Wholesale Banking

Financials in 2001: Assets, $203.6 billion; revenue, $12.8 billion; net income, $931 million

Challenge: Bring together in one portal both customer information and news with contact histories, costing tools, and other internal bank applications; to increase cross-selling of financial products to corporate customers; and to reduce administrative costs

Baseline Goals:

1. Deploy sales portals to 3,000 commercial bankers by end of 2002
2. Cut administrative costs by three times eFinance project cost
3. Boost net income of Wholesale Banking unit from $1.2 billion a year, in part to compensate for losses in other operations