In another move aimed at leveraging its processing systems, Bank of New York has agreed to acquire the municipal bond administration business of New Orleans-based Hibernia National Bank for an undisclosed sum.

The deal covers some 350 municipal bond trustee and agency relationships representing more than $2.7 billion in securities, composed primarily of appointments for municipal bond issuers in the Louisiana market.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.