Fleet Government Banking yesterday announced that it has agreed to buy the Muniflow business of Rochester, New York based investment advisor and investment management firm Rulison & Company.
Muniflow provides cash flow analysis and investment services to counties, towns, cities, villages, school districts, agencies and authorities. It is a process that analyzes a client’s revenue and expenditures and recommends a short-term investment strategy designed to maximize interest income while protecting principal.
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Rulison and six other Rulison & Company employees will become Fleet employees and will market and manage the Muniflow service from Fleet’s One East Avenue, Rochester, NY regional headquarters. The private investment management portion of Rulison & Company will continue to operate as an independent company.
The purchase price was not disclosed.
