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.
