Fiduciary Trust Co. International completed its acquisition of Sanyo Investment Management in Tokyo from a group of companies associated with the now-bankrupt Sanyo Securities. While the purchase price was not disclosed, Henry C. Barkhorn, Fiduciary's executive vice president called it ``modest.''
The acquired company has been renamed Fiduciary Trust International Investment Advisory. It will serve as Fiduciary's investment advisory company in Japan and will be marketing its investment management services.
Fiduciary retained four of Sanyo Investment Management's existing seven employees in marketing and client services. According to Mr. Barkhorn, the Tokyo unit will be adding a fifth staffer for marketing and client services.
