BB&T Corp., hoping to be on the leading edge of a trend curve, has acquired W.E. Stanley & Co. Inc., a Greensboro, N.C., actuarial and employee benefits consulting firm, and two subsidiaries, Corporate Compensation Plans of North Carolina Inc. and Corporate Group Services Inc.
The merger should enhance the capabilities of the Winston-Salem, N.C.-based multibank holding company by adding Stanley's expertise in 457 and 403(b) defined contribution plans, said Ken Miller, executive vice president and BB&T's financial services manager. Before the acquisition, BB&T did not offer those plans.
BB&T has $31.5 billion in assets and primarily serves small and midsized commercial customers, Mr. Miller said. He added the acquisition will allow Stanley to offer actuarial and consulting services, and more than double the number of plans it administers. The merger is expected to be completed by July 1.