JERSEY CITY - Pershing, the global securities clearing company owned by Credit Suisse First Boston, has agreed to offer the investment research of AssetMark Investment Services Inc., to its broker and adviser clients.
AssetMark, of Pleasant Hill, Calif., serves more than 700 advisory firms and administers more than 14,000 investor portfolios. The agreement was announced Monday.
The Florida bank plans to buy Villages Bancorp for $710.8 million, marking its second in-state acquisition of 2025.
The bank's head of self-directed investing reflects on how her career has progressed at Brown Brothers Harriman, Goldman Sachs and now J.P. Morgan.
Maryland passes legislation to oversee the earned wage access industry; Truist Financial adds ex-Morgan Stanley Finance Chief Jonathan Pruzan to its board; The Citizens Bank agrees to buy a First Capital Bank branch in North Carolina; and more in this week's banking news roundup.
The transaction comes as the megabank is determined to simplify its operating model and shed units that have slower growth prospects or aren't core to its business.
The incident affected 7,500 people. The bank resolved the matter in less than a day.
