LOUISVILLE, Ky. -- The trust subsidiary of J.J.B. Hilliard, W.L. Lyons Inc., an investment management unit of PNC Advisors, is being moved from the investment company to PNC Bank itself in order to be able to offer its trust services nationally.
Hilliard Lyons Trust Co. has been renamed Hilliard Lyons Asset Management and will operate as a unit of PNC Bank, which itself is a unit of the bank holding company PNC Financial Services Group Inc.
Hilliard Lyons Asset Management is now able to take advantage of PNC Banks national trust charter to settle estates and perform fiduciary trust services in all states. The trust companys charter had restricted its trust activities to Kentucky.
PNC Advisors bought J.J.B. Hilliard, W.L. Lyons Inc. in 1998.
The trust units shift into PNC Bank is expected to be complete by yearend.
