NEW YORK - U.S. Trust Corp. said it had agreed to acquire Campbell, Cowperthwait & Co., a New York-based investment advisory firm that specializes in quality growth stocks.

Approval from federal and state regulators is pending.

Campbell Cowperthwait has $450 million in assets under management and 180 clients, about three-fourths of them individuals. U.S. Trust has $24 billion in assets under management.

H. Marshall Schwarz, chairman and chief executive officer of U.S. Trust, said Campbell Cowperthwait would be operated as an independent subsidiary.

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.