The Lippis Report Issue 36: South Trust Bank: A Convergence Case Study

August 2nd, 2004

SouthTrust Bank Background

SouthTrust Corporation is one of Cisco’s first and largest IP telephony deployments and it is now successfully deployed. SouthTrust Corporation is a $51.9 billion regional holding company headquartered in Birmingham, Alabama. This Fortune 500 financial services company employs nearly 13,000 people and operates almost 800 banking and loan offices and 850 Automatic Teller Machines (ATM) in nine states. Services include traditional retail banking, corporate and commercial banking, mortgage banking, brokerage and trust services, and insurance products. 2003 revenues were $2.3B while net income was $705 million. As an aside to this case study, on August 9th, U.S. antitrust authorities have approved Wachovia Corp.’s proposed acquisition of SouthTrust Corp.
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