Bank of America completes $3.3 billion purchase of U.S. Trust

07/3/2007 | InvestmentNews (free registration)

Bank of America has announced that its purchase of U.S. Trust from Charles Schwab has been completed and that the new entity will be renamed U.S. Trust Bank of America Private Wealth Management. The new division has $427 billion in total client assets and $265 billion in assets under management.

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