Fiserv Sells Securities ClearingOperations

Register now

BROOKFIELD, Wis. - (12/20/04) -- The normally acquisitive Fiserv Inc.said last week it has agreed to sell its securities clearingbusiness, known as BHC Investments, Inc., to National Financial, aunit of mutual fund giant Fidelity Investments, for $365 million.BHC Investments provides clearing services to about 270 financialinstitutions representing 3.9 million client accounts. Thecompanies expect BHC correspondent clients to transition toNational Financial by the end of 2005.

For reprint and licensing requests for this article, click here.