By Denny Jacob
Insigneo business units entered into a definitive agreement to acquire certain accounts overseen by segments of PNC Financial Services Group.
The wealth-management firm said Insigneo Securities and Insigneo Advisory Services agreed to buy the Latin American consumer brokerage and investment accounts of PNC Investments, PNC Managed Account Solutions, and PNC Bank.
Terms of the deal weren’t disclosed.
PNC would retain the deposit and loan accounts of customers with brokerage assets and assets under management moving to Insigneo and would continue to support the U.S. banking needs of its international clients.
Insigneo said the acquisition is expected to close in the coming months.
Write to Denny Jacob at denny.jacob@wsj.com
Source: marketwatch.com
