Bisys Group To Buy Financial Firm
|NU Online News Service, Dec. 22, 11:55 a.m.EST?Bisys Group, the nation's second largest independentwholesale distributor of commercial property-casualty insurance, isacquiring a New Jersey-based provider of investment fund servicesto boost its investment services unit.[@@]
|The New York-based Bisys said it has signed a definitiveagreement to purchase RK Consulting. Roseland, N.J. Bisys notedthat upon the completion of the deal, its private equity and hedgefund businesses will exceed $180 billion in assets underadministration.
|Financial terms of the transaction were not disclosed.
|Bisys links a national network of about 2,700 retail brokers andagents with the products provided by 60 leading property-casualtyinsurance carriers. The firm supports the distribution process fora wide range of specialized p-c insurance solutions.
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