U.S. Trust Corp. agreed Thursday to acquire Radnor Capital Management Inc., a Wayne, Pa., investment firm that manages $1 billion of assets.

The price was not disclosed.

U.S. Trust, which manages over $65 billion of assets for institutions and individuals, plans to open a full-service trust and private banking office in the Philadelphia area.

Radnor's investment management business for private clients will operate under the U.S. Trust brand. The Radnor name will be retained for institutional marketing.

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