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Article: CoreStates in deal to buy Rittenhouse. (CoreStates Financial Corp; Rittenhouse Financial Services Inc.) (Brief Article)
- Article from:
- American Banker
- Article date:
- December 22, 1993
CopyrightCOPYRIGHT 1993 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PHILADELPHIA - CoreStates Financial Corp. said it has agreed to buy Rittenhouse Financial Services Inc. and the Rittenhouse Trust Company of Radnor, Pa., in a stock swap valued at more than $55 million.
Rittenhouse Financial Services is an investment advisory firm with $5.8 billion in assets under management. The trust company is a Pennsylvania-chartered bank with $35 million in assets and $400 million in assets under management.
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