Some analysts believe that Gifford may be forced to sell more than the investment bank - FleetBoston wrote off around $1.1bn last year due to exposure to Argentina and another $1bn or so was lost in high-tech stock investment valuations.
FleetBoston is currently America's seventh largest bank. The bank's shares are the second worst performer this year in the Philadelphia KBW index of 24 big banks.
Citigroup shares are the worst performers in this index.
Investment Bank For Sale
Bloomberg reports that FleetBoston Financial Corp. Chief Executive Chad Gifford now plans to sell investment banking arm Robertson Stephens Inc.
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