Webster Bank to Buy J. Bush & Co

[emad]

Webster Bank to Buy J. Bush & Co
By Associated Press

WATERBURY, Conn. — A Webster Financial Corp. unit said Wednesday it agreed to acquire J. Bush & Co., an investment-management firm founded by the uncle of the U.S. president, from PNC Financial Services Group Inc.

Terms weren't disclosed.

J. Bush & Co., based in New Haven, Conn., was founded in 1970 by Jonathan Bush, Webster said. In 1997, the firm was acquired by Riggs National Corp. and operated as an autonomous unit. Riggs was in turn recently acquired by PNC Financial Services.

J. Bush & Co. will retain its current name and operate as a division of Webster Bank's investment-management group, called Webster Financial Advisors.

http://www.latimes.com/business/investing/wire/sns-ap-webster-bank-j.-bush,1,3612944.story?coll=sns-ap-investing-headlines&ctrack=1&cset=true

[SpiralHawk]

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