IBJ Schroder Bank and Trust Co., New York, announced that it had acquired Delphi Asset Management last week for an undisclosed price. Delphi, which manages $1 billion of assets and employs 20, will retain its name and operate as a separate subsidiary.

The New York firm, founded in 1980 by Thomas B. Slaughter and Marc Keller, primarily manages assets for individuals and private foundations. Besides individual accounts, Delphi manages two hedge funds, a domestic fund, and an international fund.

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