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In simpler times, New Jersey banks just had to battle one another for business. But now, bigger bullies from outside the Garden State are moving in, and locals such as UJB Financial Corp. have to be more creative than ever to hold their ground.
UJB Financial, New Jersey's second-largest bank holding company, with $15.4 billion in assets, is used to the likes of rivals such as First Fidelity Bancorp/NJ, National Westminster Bank USA and Midlantic Corp. But it is now jostling for investor dollars with nonbank players such as AT&T Corp., General Electric Co.'s GE Capital Corp. unit and Merrill Lynch & Co.
To hold its turf against these outsiders, UJB Financial will next month roll out a sales automation package to 300-plus customer relationship officers in its New Jersey and Pennsylvania offices. Its goal is to improve the ability to track commercial customer accounts and cross-sell products more effectively.
"We're in between two 500-pound gorillas [New York and Philadelphia]," said Walter M. Horstin vice president...