Home About Archives RSS Feed

Legacy Acquiring Renaissance Investment

Staff Reports

Legacy Banks is entering into a "strategic affiliation" with Renaissance Investment Group LLC of Pittsfield.

The bank, one of the largest in the county, said it plans to purchase 10-year-old Renaissance, making it a wholly-owned subsidiary. According to a statement, Renaissance will continue as an independent investment adviser and will operate separately and distinctly from Legacy Portfolio Management.

Legacy Chairman J. Williar Dunleavy said the investment is a win-win, since both companies will be able offer clients alternatives in financial counseling and investment management.

Renaissance President and Managing Director H. Ashley Smith Jr. said the company's investment philosophy won't change and that clients will continue to see their same investment managers. "We will maintain our name as well as our South Street offices."
 
Renaissance's track record and financial strength attracted Legacy, said Smith.

Both men said a "seamless transition" is expected and that clients should notice no change. The transaction is expected to be completed by April 30.

Legacy Banks is headquartered in Pittsfield and employs 186 people in 19 offices throughout Western Massachusetts and eastern New York. Renaissance lists seven officers and counselors and manages a $95 million portfolio.

Tags: Legacy, Renaissance      
News Headlines
SteepleCats Lose Pitchers Duel at Joe Wolfe
Cages Baseball Club Edged in Extra Innings
Community Comes Together to Improve Russell Field
SABIC Leaves 'Bittersweet' Parting Gift To United Way
Adams Community Bank Employees Complete New England School for Financial Studies
Berkshire County Banker Completes ABA School of Bank Marketing and Management
Two Local Women Join Wild Oats Management Team
Racette Leads Drury Boys to Win
Barrington Stage Names New Trustees
New Regional Coordinator for Healthier Living Workshops and Tobacco Treatment Tapped

 


Bill Schmick separates the bull from the bears in his weekly columns on investing and market wrap-ups.



Categories:
advertising (10)
agriculture (1)
arts (7)
automotive (5)
awards (16)
banking (41)
Beacon (1)
broadband (1)
business (52)
chamber (25)
closing (5)
development (23)
dining (5)
domestic animals (2)
energy (6)
entertainment (2)
federal (4)
finances (5)
food (5)
fundraiser (3)
green (2)
grocery (5)
hospitality/hotel (5)
housing (0)
insurance (3)
investment (6)
jobs (35)
labor (17)
laws (4)
Legislature (3)
manufacturing (9)
media (8)
medical (4)
networking (33)
new (22)
pricing (1)
projects (2)
promotion (6)
publishing (13)
radio (2)
real estate (8)
retail (29)
technology (13)
training (5)
transportation (1)
volunteer (1)
website (2)
wholesale (7)
workshops (6)
Archives:
July 2015 (1)
Tags:
Gas Prices Statistics Berkshire Chamber Of Commerce Expansion Baldwin Williamstown Qualprint Walmart Jobs Sales Tax Auction Flood Merger Social Media Currency Crane & Co. Berkshire Living Berkshire Creative Store Opening Pittsfield Sabic North Adams Small Business Breakfast Wmeco Unemployment Adams Talkberkshires State Bj's Excelsior Great Barrington Berkshire Enterprises Statistics Unemployment
Popular Entries:
Berkshire Jobless Rates Drop
Bay State Continues to Add Jobs
Excelsior Brings Greeting Card Co. To North Adams
White Hart Inn For Sale for $5M
Williamstown Chamber Seeks Input on Future Role
New Dog Training Center Open in North Adams
Aladco Installs New 'Green' Washing Machine
Storey Publishing to Host Next Creative Challenge
Covanta's Pittsfield Facility Gets High Marks from OSHA
Adams Co-Op, South Adams Bank Merger Approved
Recent Entries:
Biz Briefs: Mr. Tire, Tax Holiday, Business Directory
Berkshire Eagle Parent Mulling Newspaper Sales
Digitial First Puts Vermont News Buildings on the Market
Berkshire Chamber, Neal Hosting Facebook for Business Workshop
Winstanley Wins Big at Annual ADDY Awards
Eggs & Issues Event Focuses on Rail Cars, Development
State Unemployement Rate Drops Slightly
New Biotech Firm Setting Up in Pittsfield
Crane Museum Opens Retail Store
License Commission Approves River Street Package Move