Fidelity Investments has reached an agreement to acquire the Asset Management Services Group of Broadway & Seymour, Charlotte, N.C., which provides trust accounting and processing services to bank trust departments and investment institutions.
Terms weren't disclosed.
The group will be managed as a separate Fidelity unit under a name to be chosen later. James R. Spencer III, Broadway & Seymour's senior vice president, will join Fidelity to manage the unit. The firm's other employees will be offered jobs at Fidelity as well