NEW YORK - National Financial Partners Corp. and Nemco Brokerage Inc. announced Wednesday that they have bought a group-insurance business from Bisys Insurance Services Inc. and Axa Financial Inc.'s Axa Network LLC unit.
The business will be a subsidiary of Nemco, a group benefits brokerage and insurance firm in New York. It will be named Dascit/White & Winston Inc. and have offices in New York and Harrisburg, Pa.
The deal price was not disclosed.
National Financial Partners is an independent financial services distributor serving high-net-worth clients and the small businesses they own.
Also, National Financial Partners announced that Jeffrey A. Montgomery had been named the new chief executive officer of its NFP Securities Inc. broker-dealer unit, in Austin, Tex. Mr. Montgomery had been president and CEO of Accredited Investor Services Inc., of St. Cloud, Minn., and previously held the same titles at Washington Square Securities Inc., part of ING/Reliastar in Minneapolis.