Riggs National Corp. said Monday it acquired J. Bush and Co., an investment advisory firm based in New Haven.

Terms of the deal were not disclosed, but investment bankers valued Bush at approximately $5.5 million.

Bush has $275 million under management and a client base of wealthy families and corporations. It invests in growth stocks and fixed income securities.

Riggs, a $5.4 billion-asset banking company based in Washington, has its own registered investment advisory firm. With Bush, it seeks to complement its private banking and investments arm, Riggs & Co.

Riggs has $10 billion of assets under administration, about half of which it manages.

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