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 print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Operations
Waters Wavelength
Wavelength Podcast Ep. 212: A Discussion About AI
An assortment of AI experts talk about various machine learning and NLP opportunities and challenges.
Subscribe to Weekly Wrap emails
Most read
- The Inside Market Data & Inside Reference Data Awards 2020: All the Winners
- How Cloud, APIs, and Open Source Are Changing the World of Fintech (And Blockchain's ZTA Play)
- Is Low-Code a Movement or a Mirage (Plus the ODRL Gambit & AI’s Afterthought Problem)
- Low-Code Movement Gains Converts, but Skeptics Remain
- Digital Rights Project for Data Usage Faces Legal, Operational Hurdles