BNY ESI In Deal For Institutional Securities Trading LLC
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NEW YORK--BNY ESI & Co., a subsidiary of the Bank of New York Company, Inc., has agreed to acquire certain assets of Investment Securities Trading (IST), the Savanah, Georgia-based brokerage subsidiary of Investment Performance Services, LLC, a consulting firm for institutional investors.
The acquisition of IST gives BNY ESI a provider of commission recapture, third party services and other soft dollar services that works primarily with Taft-Hartley organizations--which are mainly labor unions-
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