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Fiserv To Combine 4 Trust Companies

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NU Online News Service, Sept. 13, 2004, 4:02 p.m. EDT

Fiserv Inc., Brookfield, Wis., is combining 4 trust company units.[@@]

The combined trust company, Fiserv Investment Support Services, will have its main offices in Denver and manage a total of $33 billion in assets for 325,000 retirement and custodial accounts, Fiserv says.

Fiserv is making the move to strengthen awareness of its services in the trust company market, Fiserv executives say.

The units affected are First Trust Corp., Lincoln Trust Company, Resources Trust Company and Retirement Accounts Inc. Fiserv hopes to consolidate the trust companies’ operations by the end of 2005, but it says it will leave the DATAlynx and TRUSTlynx services unchanged.

Fiserv Investment Support now employs more than 900 people, Fiserv says.