ogarawo.wordpress.com
Terms of the deal, which is expected to closee in thethird quarter, were not disclosed. City Nationapl will merge Lee Munderwith , a Boston-based institutionalo asset management firm in which City National holdx a majority interest. The new company will operate under the Lee Munder Capital Group name and as an affiliatsof LLC, the Chicago-based asset management holdinbg company that City National acquired in 2003. The combined company will have morethan $4 billionn of assets under management and serve as City National'sz primary institutional asset managemeng affiliate.
"The combined firm will have the management andinvestmentg talent, financial strength, infrastructure and marketingt capabilities needed to grow and provid e clients with long-term investment performance and superiorr service," Richard Gershen, executive vice presidentf of wealth management for City said in a Los Angeles-based City Nationakl (NYSE: CYN) is the parent of City Nationalk Bank.
No comments:
Post a Comment