Newport Group Enters into Definitive Agreement to Purchase PNC Bank’s Vested Interest Defined Contribution Recordkeeping Business
PNC Financial Services Group, Inc. (The) (PNC)
Last pnc financial services group, inc. (the) earnings: 4/15 06:41 am
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Source: Business Wire
WALNUT CREEK, Calif.--(BUSINESS WIRE)-- Newport Group, Inc. (“Newport Group”) and PNC Bank, National Association (“PNC Bank”) announced today that the two companies have entered into a definitive agreement by which Newport Group will purchase the Vested Interest® defined contribution plan recordkeeping business from PNC Bank. Terms of the transaction were not disclosed. “PNC Bank is one of the largest and most-respected brands in the banking industry,” said Newport Group Chief Executive Officer Greg Tschider. “This transaction is a strategic fit for our company. Our business is providing service to retirement plans of all sizes, and we look forward to supporting our newest clients and helping their employees reach their retirement goals.” Upon the closing of the transaction, subject to customary conditions, the business—which currently provides recordkeeping and administration services to plans w
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PNC
Earnings
- 4/16/24 - Beat
PNC
Sec Filings
- 4/23/24 - Form 4
- 4/23/24 - Form 144
- 4/16/24 - Form 8-K
- PNC's page on the SEC website