In the latest acquisition by a bank of an investment management firm, Keystone Financial Inc. has agreed to acquire Philadelphia-based Martindale Andres & Co. for an undisclosed sum.

Under the deal, whose price industry sources estimated at three times Martindale's revenues, Keystone's asset management division will be combined with Martindale's.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.