Norwest Corp. has officially ended its clearing agreement with BHC Financial Inc. in favor of clearing its investment sales on its own.

The Minneapolis-based banking company has begun transferring its brokerage customer accounts to a new clearing system that it will own and manage. The transfer is expected to be completed in October, bank executives said. "The primary reason for doing this is to give better customer service and have better control," said Silas Mathies, an executive vice president at Norwest Investment Services Inc.

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