The company has dual headquarters in London and Singapore.

But the company, which has dual headquarters in Paris and Munich, also cautioned that predicting the future of the business remained tricky.

This fall, ITT expects to create a dual headquarters with staff on both sides of the Hudson River.

The combined company would operate dual headquarters in Rome and Bonn.

"The dual headquarters is operating quite effectively," said James P. Gallagher, vice president and director of public relations.

Marketspan, with dual headquarters in Hicksville and downtown Brooklyn, has 8,200 employees and serves a population of nearly seven million.

The new firm retains dual headquarters in Milwaukee and Minneapolis.

But the dual headquarters could be a sign that the companies, which both grew up as plucky alternatives to the Bell companies, are reluctant to relinquish power.

Eliminating Shawmut's dual headquarters in Boston and Hartford would also produce savings.

At the time the merger was announced in January, the companies said they would maintain dual headquarters.