Amro soldiers on in U.S. amid Chicago Corp. rout.

Alleghany Asset deal will be latest test for firm

The European blitzkrieg of the U.S. financial services industry is turning out to be something less than a lightning war.

Dutch banking giant ABN Amro NV is the latest example of a European firm that has proved adept at building a major U.S. presence only to get bogged down by a clash of corporate cultures.

Indeed, its 1995 purchase of Chicago Corp., a regional investment banking and brokerage company, has turned into a rout.

The unit -- now known as ABN Amro Inc. -- has racked up an est