NU Online News Service, April 5, 2:15 p.m. – Hibernia Corp., New Orleans, a bank holding company, has acquired Friedler-LaRocca Financial Partners, a New Orleans life insurance agency.
Herb Boydstun, Hibernia’s president, says the move will help the bank round out financial services it can offer its high-income customers.
The bank already has an in-house insurance unit, Hibernia Insurance Agency, which sells life, long-term care and disability insurance through the bank’s branches. Cortney Canevarik, general manager of that agency, will also manage the new group. The group’s name will be changed to Hibernia Friedler-LaRocca.
Both agencies are part of Hibernia’s private client group, which includes Hibernia Investments and the bank’s personal trust, institutional trust and asset management units.
Friedler-LaRocca?s four partners and nine other employees will continue to work in their existing offices, the bank says.
Hibernia Rosenthal Insurance, the bank’s property-casualty insurance division, will continue to operate separately from the bank’s private client group.
Friedler-LaRocca provides life insurance for executives at banks and other companies, incentive-compensation and deferred-compensation planning, estate and financial planning, retirement planning and other investment products.
Hibernia has $17 billion in assets and 258 locations in Louisiana, Texas and Mississippi.