Bank of New York Co. said it will acquire the corporate trust business of the former Boatmen's Bancshares.

The $58 billion-asset New York bank, which ranks among the top three in corporate trust, will buy the unit from NationsBank Corp., which merged with Boatmen's in January. Financial terms were not disclosed.

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.