Union Bank Acquires CNA Trust Unit
From Associated Press
CNA Financial Corp. said it has agreed to sell its CNA Trust business to Union Bank of California.
Financial terms weren’t disclosed for the transaction, which is expected to be completed on or before the end of the third quarter.
Union Bank of California is a subsidiary of San Francisco-based holding company UnionBanCal Corp.
CNA Trust, based in Costa Mesa, helps other financial institutions offer 401(k) plan services.
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