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Wells Fargo To Buy 401(k) Business From Comerica
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CHARLOTTE, N.C. (AP) — Wells Fargo & Co. said Monday its subsidiary, Wachovia Bank, will acquire the defined contribution plan recordkeeping business of Texas-based Comerica Bank, a subsidiary of Comerica Inc.
The cost of the acquisition was not released. The deal is expected to close this quarter.
The business provides recordkeeping services to 250 retirement plans with nearly 100,000 participants and manages about $3.4 billion in assets. ...
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