BRYN MAWR, Pa., Feb. 21, 2011 (GLOBE NEWSWIRE) -- Bryn Mawr Bank Corporation (Nasdaq:BMTC), (the "Corporation"), parent of The Bryn Mawr Trust Company (the "Bank"), today announced that they have entered into a definitive agreement to acquire the Private Wealth Management Group of the Hershey Trust Company (the "PWMG Business"). The acquisition is expected to increase the assets under management of Bryn Mawr Trust's Wealth Management Division by approximately $1.1 billion. Ted Peters, Chairman and CEO of Bryn Mawr Trust, commented, "We are excited to welcome the PWMG clients of the Hershey Trust Company to Bryn Mawr Trust. I can assure them that they will receive the same high-quality advice and service that they presently receive." Francis J. Leto, EVP and head of the Wealth Management Division at Bryn Mawr Trust added, "I am very impressed with the expertise and professionalism of the PWMG investment and fiduciary teams and look forward to having them join Bryn Mawr Trust. This acquisition is an important step in growing a business that has strategic importance to us."
Bryn Mawr Bank Corporation To Acquire The Private Wealth Management Group Of The Hershey Trust Company Increasing Wealth Assets By More Than 30.0%
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.