The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Thursday, December 02, 1999|
PNC Finishes First Data ISG Acquisition
PNC Bank Corp. (PNC) today announced that it has completed the acquisition of First Data Investor Services Group (ISG) for $1.1 billion in cash, which will now be integrated with PFPC, PNC's fund services subsidiary.
ISG and PFPC will continue to be run out of their respective offices, according to a company spokesperson, and the impact on staffing will be minimal. Staffing will continue to be assessed going forward.
The integrated PFPC unit will continue to be headed by J. Richard Carnall, chairman, as well as Vincent Ciavardini, president and Jim Fox who headed ISG and will now be vice-chairman of PFPC.
Printed from: MFWire.com/story.asp?s=25244
Copyright 1999, InvestmentWires, Inc.
All Rights Reserved