PNC's Deal To Buy First Data Solidifies Its Position In Market

FRONT PAGE

PITTSBURGH--PNC Bank Corp.'s $1.1 billion acquisition of First Data Investor Services Group will solidify the regional banking company's position as the second largest outsourcer of mutual fund accounting and administration services. But the deal is a clear sign that the third-party processing market is consolidating at the same time that money managers are looking to third-parties to run their back offices.

It's expected that the transaction will close in the fourth quarter.

PNC's PFPC

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: