Asset manager FIS Group has agreed to acquire North Carolina-based Piedmont Investment Advisors in a move that would combine two minority and women-owned firms to create one with more than $10 billion in assets under management.
The deal is expected to close during the third quarter. Philadelphia-based FIS was formed in 1996 by CEO and Chief Investment Officer Tina Byles Williams, the former CIO of the City of Philadelphia Board of Pensions.
