U.S. Bank to acquire PFM Asset Management

U.S. Bank has agreed to purchase PFM Asset Management, which manages $161 billion in assets. Philadelphia-based PFM will continue to operate as a separate entity under U.S. Bancorp Asset Management, which manages $164 billion currently.

PFM’s financial advisory business is not part of the acquisition and will continue to operate independently, U.S. Bank said in a release.

The deal is expected to close in the fourth quarter.

[More: U.S. Bank taps veteran wirehouse exec to head advisory unit]

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Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.

Andrew Vincent
Andrew is half-human, half-gamer. He's also a science fiction author writing for BleeBot.
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