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PNC Bank buying post-merger shareholder representative firm

Wilmington, Del.-based PNC Bank NA is buying Fortis Advisors, a provider of private merger and acquisition post-closing shareholder representative services.

Terms of the deal were not disclosed. The deal is expected to close in February 2018.

Upon closing, Fortis will become a unit of PNC Bank within its corporate and institutional banking division. Fortis CEO and co-founder Rick Fink, together with other co-founders and managing directors Adam Lezack and Ryan Simkin, will continue to operate the business out of San Diego.

PNC Bancorp Inc., the parent of PNC Bank, had $45.62 billion in assets as of Sept. 30. PNC Financial Services Group Inc. is the bank's ultimate parent.