IBJ Whitehall Financial Group, the U.S. banking unit of Industrial Bank of Japan, has an agreement to buy a 50% stake in a New York-based investment bank that specializes in serving middle-market companies, said Dennis G. Buchert, president and chief executive of IBJ Whitehall.

Mr. Buchert declined to identify the bank being acquired. But he said IBJ Whitehall will make more acquisitions in the United States.

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