Regions Financial (RF) in Birmingham has chosen Prudential Financial (PRU) to be the service provider for its wealth management group divisions that handle institutional and private clients.

The two divisions will use Prudential's open-architecture platform for access to third-party managers in separate-account and unified-managed-account structures. Prudential will also offer the bank access to its due diligence profiles of outside managers, which will be integrated into Regions' in-house due diligence process, said Don Korn, the director of Regions' portfolio management group.

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