BankAmerica Deal: More Public-Finance Muscle?

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BankAmerica Deal: More Public-Finance Muscle?

LOS ANGELES - BankAmerica Corp.'s acquisition of Security Pacific Corp. could help the companies' public finance efforts, market participants said.

A BankAmerica public finance official stressed that it is far too early to predict what might happen if the merger goes through. He added, however, that Bank of America would "welcome the opportunity" to review Security Pacific's existing public finance operation.

Last spring, San Francisco-based Bank of America expanded its public finance operation by hiring two investment bankers for a new Los Angeles office. Security Pacific is based in Los Angeles and already has clients in Southern California.

Richard A. Clark, managing director of public finance at Security Pacific, has primarily worked as a financial adviser recently. His clients range from Los Angeles to the Bonneville Power Administration.

Roderick Carter, a vice president of Security Pacific, specializes in school district financings. The firm also has two associates in public finance.

Bank of America's approach to public finance "is similar to ours," including an emphasis on retail business, Mr. …