On January 19, 2017, Fifth Third Bank announced an agreement to acquire The Retirement Corporation of America.
Fifth Third Bank (Nasdaq:FITB) is a Cincinnati-based diversified financial services company that provides various services to individuals, corporations and not-for-profit organizations in consumer lending, wealth management and commercial banking. As of September 30, Fifth Third Bank had $314 billion in assets under its care, $27 billion of which it manages.
The Retirement Corporation of America is a Cincinnati-based retirement planning firm with approximately $500 million of assets under management, providing retirement education and planning as well as investment management services for retirees.
The transaction is expected to close in April 2017 and is subject to regulatory approval. Park Sutton Advisors served as financial advisor to Fifth Third Bank.
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