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Money Management

CAPTRUST acquires Catawba Capital Management

CAPTRUST Financial Advisors acquired Catawba Capital Management, a CAPTRUST spokesman said in an email Monday.

Terms of the deal, which closed in May, were not disclosed.

Catawba, which has 10 employees, has more than $1 billion in assets under management, a CAPTRUST news release said Monday. All Catawba employees have joined CAPTRUST; the firm has taken on the CAPTRUST brand as part of the acquisition.

CAPTRUST, an institutional investment advisory and wealth management firm, advises on $278 billion in client assets.