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Deals & People July 13, 2007
BISYS Acquires Frontier Trust Company
BISYS Retirement Services has acquired Fargo, North Dakota-based Frontier Trust Company from AXA Financial, Inc.
Reported by Adrien Martin
According to a press release, Frontier Trust’s business mainly focuses on trustee and custodial services for qualified retirement plans, and has assets under management of more than $12 billion.
Following the acquisition, existing employees of Frontier Trust along with the current management structure will remain with the business and operate as a separate division in the Retirement Services business.
“BISYS’ long standing relationship with Frontier Trust over the last 20 years makes this a natural fit,” commented Bob Guillocheau, president of BISYS Retirement Services, in the press release. “In a consolidating industry, this acquisition allows BISYS to further execute our strategic vision of providing robust retirement plan services to our clients.’
For more information visit www.bisys.com.