67.4 F
San Diego
Sunday, Jul 21, 2024
-Advertisement-

OneAmerica Financial Partners Completes Acquisition of Locally Based Retirement Services Unit

OneAmerica Financial Partners Inc., an Indianapolis-based insurance company, said it completed the acquisition of City National Bank’s’ retirement services record keeping unit in San Diego.

Terms of the agreement, first announced in July, weren’t disclosed.

City National Bank, based in Beverly Hills and with $26 billion in assets and seven local offices, said it had 64 employees at the unit when the deal was announced.

OneAmerica’s retirement services business now serves about 11,000 plans with more than 600,000 participants that hold about $30 billion in defined contribution retirement assets under administration.

Tom McNair, who headed up the unit for City National, will continue in that role for OneAmerica. “Combining with OneAmerica expands our reach, enhances our capabilities and will enable us to offer our exceptional retirement programs to even more clients,” McNair said.

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-
-Advertisement-