ovaluleq.wordpress.com
Terms of the deal, whicj is expected to clos in thethird quarter, were not disclosed. City Nationak will merge Lee Mundeerwith , a Boston-based institutional assett management firm in which City National holds a majority The new company will operate under the Lee Munde Capital Group name and as an affiliate of LLC, the Chicago-baser asset management holding company that City Nationa l acquired in 2003. The combined company will have morethan $4 billionm of assets under management and serve as City National'w primary institutional asset management affiliate.
"Thwe combined firm will have the management and investment financial strength, infrastructure and marketing capabilitie s needed to grow and provide cliente with long-term investment performances and superior service," Richard Gershen, executive vice president of wealth management for City said in a statement. Los Angeles-based City Nationaol (NYSE: CYN) is the parent of City Nationa Bank.
No comments:
Post a Comment