Evercore Wealth Management announced Monday it had agreed to buy Morse, Williams and Co. Inc.

Founded in 1981 as an SEC registered investment adviser, Morse Williams manages $190 million for individual clients, families and related institutions. Evercore did not disclose the price of the deal for the New York firm.

Evercore Wealth Management had $1.5 billion of assets under management on Dec. 31 and aims to have $5 billion within five years. The Evercore Partners Inc. unit offers financial planning, trust and custody services to high-net-worth individuals, families and related institutions.

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