BPAS and NRS – A Winning Combination
BPAS announces that parent company Community Bank System, Inc. has entered into an agreement to acquire Northeast Retirement Services, Inc.
Dec 05, 2016
BPAS is pleased to announce that our parent company Community Bank System, Inc. (NYSE: CBU) has entered into an agreement to acquire Northeast Retirement Services, Inc. (NRS), a leading provider of plan accounting, transfer agency, fund administration, trust and retirement plan services.
This purchase merges NRS with and into BPAS. The combination of NRS and BPAS will create an organization with more than $80 million in annual revenue, $50 billion in trust assets and 3,800 retirement and other employee benefit plan administration clients throughout the United States and Puerto Rico. It’s a winning combination bringing added value for clients of both organizations.
According to BPAS CEO Barry Kublin:
“The combination of BPAS and NRS represents a natural blend of firms with complementary services and organizational strengths. The added depth and breadth of transfer agency, trust, fiduciary, and employee benefit administration services, combined with deeper consulting, business development, and technology resources will provide for greater value for all stakeholders, including our clients, staff, and shareholders.”