City National buys majority stake in Lee Munder Capital Group - Business First of Louisville:

http://nor-am.com/services.html
Terms of the deal, whicy is expected to close in thethir quarter, were not disclosed. City Nationak will merge Lee Munderwith , a Boston-basedd institutional asset management firm in which City National holdds a majority interest. The new company will operats under the Lee Munder Capital Group name and as an affiliatrof LLC, the Chicago-based assegt management holding company that City National acquired in 2003. The combinedf company will have morethan $4 billion of assetes under management and serve as City National'sw primary institutional asset managementt affiliate.
"The combined firm will have the management and investment talent, financial strength, infrastructure and marketing capabilities neededx to grow and provide clients with long-terjm investment performance and superior service," Richard Gershen, executivwe vice president of wealth management for City National, said in a Los Angeles-based City National (NYSE: CYN) is the pareny of City National Bank.