Last mentioned: Mar 17, 2026
Leadership Transition
Santander confirms Webster executives will run U.S. banking operations from Stamford.
Santander-Webster Deal
Santander inks a $12 billion deal to acquire Webster Bank, shifting leadership to Connecticut.
Asset Management Consolidation
Eaton Vance is acquired by Morgan Stanley; Putnam Investments is later sold to Franklin Templeton.
FleetBoston Merger
Boston-based FleetBoston is acquired by Bank of America, marking the loss of a top-10 local retail bank.
Santander’s $12 billion acquisition of Connecticut-based Webster Bank marks a pivotal shift in New England’s banking landscape, as executive leadership moves from Boston to Stamford. This transition underscores a decades-long trend of Boston losing its status as a primary financial hub to larger national players and regional consolidation.