The Year in Preview

Financial Services: The industry consolidation will continue, following this year’s mega-mergers, such as NationsBank’s $43-billion purchase of BankAmerica, Travelers Group’s $36-billion acquisition of Citicorp and Norwest’s $32-billion purchase of Wells Fargo. The lines will blur among financial services, with more banks buying investment banks and with insurers, such as State Farm and Prudential, applying for thrift charters. An example of the diversification may be Nordstrom, which aims to distribute private-label check cards and sell mortgage loans.