Source: Bisys Retirement Services
Bisys Retirement Services, a division of The BISYS Group and the nation's largest independent administrator and recordkeeper for small- and mid-sized retirement plans, announced today that The Bisys Group has completed the acquisition of Frontier Trust Company from AXA Financial, Inc.
Based in Fargo, ND with assets under management exceeding $12 billion, Frontier Trust has business lines consisting primarily of trustee and custodial services for qualified retirement plans.
"Bisys' long standing relationship with Frontier Trust over the last 20 years makes this a natural fit," commented Bob Guillocheau, president of Bisys Retirement Services. "In a consolidating industry, this acquisition allows Bisys to further execute our strategic vision of providing robust retirement plan services to our clients."
Following the acquisition, existing employees of Frontier Trust along with the current management structure will remain with the business and operate as a separate division in the Retirement Services business.