U.S. Trust to acquire investment adviser.

NEW YORK - U.S. Trust Corp. said it had agreed to acquire Campbell, Cowperthwait & Co., a New York-based investment advisory firm that specializes in quality growth stocks.

Approval from federal and state regulators is pending.

Campbell Cowperthwait has $450 million in assets under management and 180 clients, about three-fourths of them individuals. U.S. Trust has $24 billion in assets under management.

H. Marshall Schwarz, chairman and chief executive officer of U.S. Trust, said Campbell Cowperthwait would be operated as an independent subsidiary.

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