-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LT6XwaQXoWioO5244uE2b3Han1bevC5o2ufLfRbZqdBVbN2OFJF0u7WTnlGc6vbw xkutRrLWPINP6MPiirxXLg== 0001036050-97-000934.txt : 19971104 0001036050-97-000934.hdr.sgml : 19971104 ACCESSION NUMBER: 0001036050-97-000934 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971030 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971103 SROS: NYSE SROS: PHLX FILER: COMPANY DATA: COMPANY CONFORMED NAME: CORESTATES FINANCIAL CORP CENTRAL INDEX KEY: 0000069952 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 231899716 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-11285 FILM NUMBER: 97706896 BUSINESS ADDRESS: STREET 1: CENTRE SQ W STREET 2: 1500 MARKET ST CITY: PHILADELPHIA STATE: PA ZIP: 19101 BUSINESS PHONE: 2159733806 MAIL ADDRESS: STREET 1: 1500 MARKET ST CITY: PHILADELPHIA STATE: PA ZIP: 19101 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL CENTRAL FINANCIAL CORP DATE OF NAME CHANGE: 19830517 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 EXHIBIT INDEX IS ON PAGE 3 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): OCTOBER 30, 1997 CoreStates Financial Corp -------------------------------------------------------------- (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) Pennsylvania 0-6879 23-1899716 ------------ ------ ---------- (STATE OR OTHER (COMMISSION (IRS EMPLOYEE JURISDICTION OF FILE NUMBER) IDENTIFICATION NO.) INCORPORATION) Centre Square West, 1500 Market Street Philadelphia, Pennsylvania 19101 -------------------------- ----- (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) REGISTRANT'S TELEPHONE, INCLUDING AREA CODE: (215) 973-7488 -------------- __________________________________________________________________ (FORMER NAME AND FORMER ADDRESS, IF CHANGED SINCE LAST REPORT) 1 of 6 ITEM 5. OTHER EVENTS. ------------- The information set forth in the news release of CoreStates Financial Corp as Exhibit 99 is incorporated by reference and made a part hereof. ITEM 7. EXHIBITS. --------- 99 CoreStates Financial Corp News Release dated October 30, 1997. SIGNATURE --------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CORESTATES FINANCIAL CORP (Registrant) Dated: November 3, 1997 By /s/ David T. Walker ------------------------- David T. Walker Senior Vice President 2 of 6 Exhibit Index ------------- Exhibit No. Page - ----------- ---- 99 CoreStates Financial Corp News Release dated October 30, 1997 4 3 of 6 EX-99 2 NEWS RELEASE Exhibit 99 CoreStates Financial Corp Broad and Chestnut Streets PO Box 7558 Philadelphia PA 19101-7558 [CORESTATES LOGO APPEARS HERE] Contact CoreStates: Gary Brooten or George Biechler, (215) 973-3546 Andersen Consulting: Roxanne Taylor, (212) 708-5106; roxanne.taylor@ac.com For Release Immediately Upon Receipt CORESTATES AND ANDERSEN CONSULTING FORM 10-YEAR STRATEGIC TECHNOLOGY ALLIANCE PHILADELPHIA, PA., October 30, 1997 -- CoreStates Financial Corp (NYSE: CFL) and Andersen Consulting today formally announced the creation of a 10-year strategic technology alliance designed to help CoreStates expand its access to world-class technology skills and capabilities, grow revenue and achieve other key business objectives. The alliance takes effect October 31, 1997. "This alliance is a critical component of our strategic five-year business plan to create long-term value for our shareholders," said Terrence A. Larsen, CoreStates Chairman. "By teaming with Andersen Consulting, CoreStates gains access to the expertise and experience of a global technology leader, allowing CoreStates to concentrate on our core competency of delivering banking services to our customers locally and around the world." The alliance between CoreStates and Andersen Consulting comprises three major components: a program to develop new strategic technology applications; a business process management contract for applications development and maintenance; and a Year 2000 initiative, already well under way at CoreStates. Under the alliance, CoreStates will retain control over its technology strategy, direction, priorities and decision making, and Andersen Consulting will provide a broad range of technology consulting and support services. The overall goals of the strategic technology alliance are to: increase CoreStates' revenues by facilitating new product development; improve the speed 4 of 6 and efficiency of bringing new products to market; create a flexible technology infrastructure that enables CoreStates to respond quickly to changing customer needs and to the overall business environment; enhance customer service quality; and improve CoreStates' return on its technology investment so that related cost savings can be reinvested in technology-based solutions for its customers. "Andersen Consulting and CoreStates have created an innovative alliance that will enable CoreStates to fulfill strategic objectives, not just address short-term tactical concerns," said Stephen A. James, managing partner of Andersen Consulting's Financial Services Global Market Unit. "In addition, CoreStates will gain broad access to Andersen Consulting's research and development initiatives in technology." The activities that Andersen Consulting will manage under the business process management portion of the alliance represent approximately 40 percent of CoreStates' current overall information technology operations. All CoreStates employees who are affected by this alliance have been offered comparable positions with either CoreStates or with Andersen Consulting. Under the Year 2000 initiative, which is designed to make all of CoreStates' information technology systems millennium-compliant, Andersen Consulting is assisting with program management and implementation support. Under the plan to create new strategic technology applications, CoreStates will gain increased flexibility, economy and scale in its technology capabilities around the world. "Our goal is to apply technology -- whether or not we develop it ourselves - -- to best serve our customers in a way that sets us apart from the competition," said P. Sue Perrotty, executive vice president and chief information technology officer at CoreStates. Andersen Consulting's Financial Services Global Market Unit consists of more than 12,000 professionals who serve nearly 700 clients around the world through three industry segments: Banking, Insurance and Health Services. The Banking segment serves, among others, retail, investment and commercial banks; 5 of 6 investment management firms; securities firms; depositories; and exchanges. The Insurance segment serves the property and casualty insurers and life insurers. The Health Services segment serves a wide range of health care providers, including HMOs. Andersen Consulting is a $5.3 billion global management and technology consulting organization whose mission is to help its clients change to be more successful. The organization works with clients from a wide range of industries to link their people, processes and technologies to their strategies. Andersen Consulting has nearly 49,000 people in 47 countries. Its home page address is http://www.ac.com. CoreStates Financial Corp is a Philadelphia-based bank holding company with assets of approximately $47.6 billion. The company markets broadly diversified financial products and services in the Middle Atlantic region and selected products and service worldwide. Its home page address is http://www.corestates.com. 6 of 6 -----END PRIVACY-ENHANCED MESSAGE-----