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Union Bank of California to Acquire Broker

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NU Online News Service, Nov. 19, 3:45 p.m. – UnionBanCal Corp., San Francisco, today announced that its Union Bank of California, N.A. subsidiary has agreed to acquire Armstrong/Robitaille Business and Insurance Services, Fullerton, Calif., a regional insurance broker. Terms of the deal were not disclosed.

Union Bank says the pending deal would enable it to offer a broader range of services to its commercial customers.

Armstrong/Robitaille sells a number of insurance lines as well as employee benefits and human resources consulting services.

The acquisition is the first of several Union Bank hopes to complete over the next few years as it seeks to add to its product offerings and simplify its delivery of services to business customers, adds Hartnack.

Armstrong/Robitaille was founded in 1979. It sells insurance and other risk management products and services to small and mid-sized companies.

Union Bank has 244 offices in California, six offices in Oregon and Washington and 18 international facilities.